Updated about 12 years ago on . Most recent reply
loan modification on 4plex
Helo BP, i have an idea but need some info on putting it together. in my area (Chicagoland) most os the multifamily owners who want to sell are deep under water and rental payments barely make the mortgage. i have an idea of getting authorization to speak with their lender in order to get a loan modification. once the mod is approved wholesale the deal or due a sandwich lease option. the majority of the sellers ive spoke to just want out. my question is at what price point do i set the purchase price to and how to get them under contract once the mod is complete? insuring that i don't do the work on the mod then seller decides they don't want to sell . Any advise on how to accomplish my goal is appreciated.