Skip to content
Two investors reviewing resources on a laptop

Get industry-leading resources — for free

Unlock resources for every investing strategy and stage with a free account.

By continuing, you agree to BiggerPockets LLC's Terms of Use and Privacy Policy

Followed Discussions Followed Categories Followed People Followed Locations
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

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

User Stats

17,996
Posts
17,211
Votes
J Scott
  • Investor
  • Sarasota, FL
17,211
Votes |
17,996
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...

Loading replies...