Updated about 12 years ago on . Most recent reply

Heres one i havent seen yet
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

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...