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Updated over 17 years ago on . Most recent reply

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35
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Keith Schellhardt
  • Property Manager
  • Collinsville, IL
0
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35
Posts

Any suggestions welcomed

Keith Schellhardt
  • Property Manager
  • Collinsville, IL
Posted

I've been approached by an individual who has several properties that supposedly is scheduled to go into ForeClosure within 30 days and is seeking help.

Indiviual expressed the following:

[b]"I am open to any suggestions. I do not want to lose the properties or
have foreclosures on my credit.

I would sell one or more properties outright at a discount.

I would take on a partner to hold and manage the properties. They were
all acquired in the past year from another wholesaler and I was hoping
to keep them for 5-10 years. I do not mind property management. I
just got behind trying to rehab the one large home. The renovation and monthly payment are killing me.

Or any other creative ideas.......make me an offer. Every house is in
a safe neighborhood with well screened tenants who pay ontime. All
homes are rehabbed, updated, and up to code. (Except the one large home which needs more work and another one which only needs paint and some carpet.)"[/b]

I need some fair and creative ways to see if I can help.....WIN-WIN situation is what I would like to offer.

Total of seven (7) houses
$1,115,000.00 still owed
$230,846.00 in supposed equity

Thank you!

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