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Updated about 12 years ago on . Most recent reply

User Stats

131
Posts
17
Votes
Wes Brumit
  • Homeowner
  • Longview, TX
17
Votes |
131
Posts

Heres one i havent seen yet

Wes Brumit
  • Homeowner
  • Longview, TX
Posted

Owner calls from a yellow letter campaign i sent. Wants to let go of home she owns that has a renter in place for practically nothing. Just wants out! Renter pays mortgage $900/month which includes escrow. There is no cash flow. Said renter missed a couple of pmts over thears but not excessive.
Thoughts on how to proceed?

Most Popular Reply

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17,995
Posts
17,205
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J Scott
  • Investor
  • Sarasota, FL
17,205
Votes |
17,995
Posts
J Scott
  • Investor
  • Sarasota, FL
ModeratorReplied

How much does she want for the property? You said "practically nothing" and then you said the $900/month in rent covers the mortgage, which implies that she owes $100K or so.

For "practically nothing," I'd likely buy it. For $100K, I'd likely run away.

I think we need more information...

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