House and don't know what to do?

[Brandon Burrell]

I have a property that was willed to me an I don't know what to with it. It needs work and I applied for an equity loan but my credit wasn't good enough also I am behind in taxes. So what could i do I don't want the property to jus set still and I don't want to loose it. Help please!

[Douglas Snook]

Just a quick thought, don't know if the numbers would work but say you were able to get a hard money loan for $25,000 to do the repairs and pay back taxes (or even pay some of the taxes and try to work out a plan with the town to repay the rest over time going forward). Get it in rentable shape and then rent it it. Then if you went back to the bank or mortgage company to pay off the hard money guy?

Could also look for a partner/investor to say sell half your interest to get the money to fix it up and rent it then same as above, get a more conventional loan to buy to buy out the partner at a higher price? Tell the investor/buyer its only for a year and then its sold back to you

I would hate to see you lose it or sell it at a huge discount because something couldn't be done