HELP
I have an owner in a very distressed situation, they own in Florida and are absentee owners. They are also two months behind on their payments, and just want out. They refinanced the mortgage and there is not much room, however they just want out. It is a duplex and one is in great shape and the other is not, How do I make it so there is meat on the bone for both? Is a short sale sufficient here? HELP!!! They want to sign a contract immediatly.. what to do?
Does it cash flow? I would not worry about the current owners making money on the deal. Is it currently fully rented? Is the property in easy travel distance for you? Does it make sense to you to purchase this property? What do you hope to gain from the purchase of this property? What is the FMV compared to the asking price? Consider all these and you will answer your own question.
Welcome 007icu!
Where are you in Florida? I just spoke to a RE investor friend of mine who wants to find a duplex to invest in...
Never know...
Keep on' posting!
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