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Updated over 1 year ago on . Most recent reply

User Stats

43
Posts
20
Votes
Erick Armando Gonzalez
  • Realtor
  • Oceanside, CA
20
Votes |
43
Posts

FOR SALE! Help!! What would YOU do? SHE WANTS OUT!! she said "GET ME OUT!"

Erick Armando Gonzalez
  • Realtor
  • Oceanside, CA
Posted

Hey BP Fam, 

What would you do? 

Im working with a lady that bought a property last year (January 2023) with her now EX-Boyfriend. Things went south and now everyone wants out! 

Here is details to the purchase:

Purchase Price: $650K 

DownPayment/Cash to Close: $153K

Intrest Rate @ 5.65%

Monthly Mortgage: $4,242.51

Loan Balance: $528,872.47

**Her Ex-Boyfriends is asking for $37K to leave**

Estimated Market Price: $669K

Estimated Monthly Rental: $3,750.00

We have talked about Traditional Sale or Rental, and she understands that both ways will bring her into a negative position. Im looking for other ways to be creative **and she's open to it** (SubTo)? SellerFinance is a no-go

Anything that will not get her to deep ion the HOLE!

Who's on TITLE?: 

1.Her

2.Ex-Boyfriend

3.Cousin

4.(her)Dad

Who's on the Mortgage?:

Everyone except HER! 

**Ex-Boyfriend, Cousin, (Her)Dad**

WHATS THE BEST WAY TO GO ABOUT THIS????? 

Any and every comments are welcome!!!

  • Erick Armando Gonzalez
  • Most Popular Reply

    User Stats

    2,217
    Posts
    1,126
    Votes
    Joe Homs
    • Flipper
    • Mission Viejo, CA
    1,126
    Votes |
    2,217
    Posts
    Joe Homs
    • Flipper
    • Mission Viejo, CA
    Replied

    @Erick Armando Gonzalez she is in the best position if her name is not on the loan.  If they all cannot get along then do subject to at $600K or less and tell them to split whatever is left over.  There is a lot of pain there, so work it.

    Good Investing...

    Loading replies...