Skip to content
Learn
Get Started
Learn SMARTER Real Estate Investing Real Estate Syndications
SMARTER Phases
Strategy Market Acquisition Rehab/Rent Tracking Exit Repeat
Resources & Media
Interactive Bootcamps Self-Guided Bootcamps Pro-Exclusive Videos Events Webinars Podcasts Books Blog Resource Hub Guides
Summer Bootcamps Open for Enrollment
Pick your 8-week bootcamp: Short-Term Rentals, Small Multifamily, or Rookie?
Free Webinars
Real estate investors break down the basics, and share tips on how to get your next deal.
Tools
Calculators
Rental Property Fix And Flip BRRRR Wholesaling Mortgage Payment 70% Rule Airbnb Rent Estimator Rehab Estimator
Software & Services
Tenant Screening Property Management Lease Agreement Packages RentRedi Insurance Pro Partners
Find Deals
Real Estate Listings Find Foreclosures Real Estate Syndications Off-Market Deal Finding
Pro Membership
Get unlimited access to tools and resources that make it easier to find, analyze, and manage deals with confidence!
Build Your Team
Suggested Vendors
Find an Agent Find a Lender Find a Tax & Accounting Pro Find a Financial Planner Find a Property Manager
Vendors & Partners
Build Your Team
Search
Members Businesses Classifieds
Events & Meetups
BPCON2024 Local Meetups
Agent Finder
Investor-friendly agents who get the best deals done.
Lender Finder
Investor-friendly lenders who can get you the best funding for your strategy.
Forums
For You
Newest Trending Unanswered My Discussions Followed Discussions Followed Categories Followed Locations Followed People
General Real Estate
General Real Estate Investing Starting Out Deal Analysis Buying & Selling Business & Marketing Landlording Property Management Reviews & Feedback
Real Estate Strategies
House Hacking BRRRR Short-Term Rentals Mid-Term Rentals Multi-Family Fix & Flip Other Strategies
Finance & Financing
Lending Creative Finance Personal Finance Taxes & Legal Issues
News & Announcements
Official Site Announcements Market Trends & Data Real Estate News & Current Events Pro Exclusive Area
Events & Networking
Events & Meetups Classifieds Off Topic
Blog
General Real Estate
Real Estate News Market Trends Financing Landlording Tips Personal Finance Taxes Opinion
Top Strategies
BRRRR Short-Term Rentals Multifamily House Hacking Flipping
I’m Four Months Into a 1031 Exchange—Now It’s All About Finding the Best Deal in the Haystack
We are less than a month away from listing our Brooklyn, New York condo, which we bought for $375,000 back in 2004, the same week we got married. 20 years, two […]
Seven Reasons Why the Housing Market STILL Hasn’t Recovered From the Pandemic
The pandemic swept through the U.S. housing market like a tsunami. Radical price hikes and all-time low inventory accompanied massive migration away from pricey big cities. Four years later, the […]
Store
All Books
Browse All Best Sellers New Books & Pre-Orders Bundle & Save Books for Beginners
Simplify your goals and find clarity for your investing
Dave Meyer's newest book gives a practical framework to craft and execute YOUR personalized real estate plan.
Save money and time with efficient property management
Make the most of your time and money as a DIY landlord. Pre-order your copy before April 25 for exclusive bonuses!
Followed Discussions Followed Categories Followed People Followed Locations
Wholesaling
HomeForumsWholesalingApproaching Someone Who is under Water
Peter Pezzano's profile image
Peter Pezzano's profile image
Peter Pezzano
  • Real Estate Broker
  • from Somerville, Massachusetts
  • Member since Sep 9, 2016
Connect

User Stats

35
Posts
3
Votes
Peter Pezzano's profile image
Peter Pezzano's profile image
Peter Pezzano
  • Real Estate Broker
  • from Somerville, Massachusetts
  • Member since Sep 9, 2016
Connect
Peter Pezzano
  • Real Estate Broker
  • Somerville, MA
3
Votes |
35
Posts
Wholesaling

Approaching Someone Who is under Water

Peter Pezzano
  • Real Estate Broker
  • Somerville, MA
Posted Jan 21 2017, 08:44

I have reached a seller who I know is under water in his mortgage payments, I have arranged to meet him tomorrow. What is the best way to break it to him that I know he is being foreclosed on? Also, how can I found out how much he is under water for? I believe if I can put the property under agreement for 1.2 I could sell the contract for 1.3..But if I could get it for less than I obviously would I'm just not sure on how to arrive at that number without knowing how much he is in debt for.

Thank you,

0 Votes
Follow
1 Replies
Jump to Last Reply
Log In or Sign Up to Reply
Sort By:

Loading replies...