Short Sales
I am a new investor just learning. So far I have invested only in Single Family Dwellings. I would like to learn more about Short Sales. Any web sites or information available on how to go about this would be greatly appreciated. I am in Oregon and at this point I want ot invest locally.
http://www.shortsalequeen.com/
There are some case studies that may help you.
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The short sale primer is a good start on the mechanics and basics of the Short sale. It is sold on this site very reasonably and I have purchased it myself.
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I am in a similar situation. I have sold a property for $540,000 with a $190,000 loan on it. I would like to exchange this to a multi-family property of the similar price range.
Do you know whether I will be able to get 80% financing on the new property (~$430,000), and essentially cash-out 430k - 190k = $240k upon closing that should be tax free?
Thank you for all of your help.