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Updated over 8 years ago on . Most recent reply

Michael C Gregory's profile image
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Michael C Gregory
  • Investor
  • from Las Vegas, Nevada
  • Member since Aug 29, 2015
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66
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11
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Michael C Gregory's profile image
Michael C Gregory's profile image
Michael C Gregory
  • Investor
  • from Las Vegas, Nevada
  • Member since Aug 29, 2015
Connect
Michael C Gregory
  • Investor
  • Las Vegas, NV
11
Votes |
66
Posts
Buying & Selling Real Estate

buying upside down properties

Michael C Gregory
  • Investor
  • Las Vegas, NV
Posted

If you see a property owner who is in trouble, and let's say his loan is for $200,000, and the ARV is $180,000. And you want to offer him $117,000. How does this work? Will the deal have to go through a Short Sale specialist? If he agrees to the deal, what happens to the balance ($83,000) of his loan?

Thanks.

Michael C. Gregory

Remedy Investments, LLC

1 Vote
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Michael C Gregory's profile image
Michael C Gregory's profile image
Michael C Gregory
  • Investor
  • from Las Vegas, Nevada
  • Member since Aug 29, 2015
Connect

User Stats

66
Posts
11
Votes
Michael C Gregory's profile image
Michael C Gregory's profile image
Michael C Gregory
  • Investor
  • from Las Vegas, Nevada
  • Member since Aug 29, 2015
Connect
Michael C Gregory
  • Investor
  • Las Vegas, NV
11
Votes |
66
Posts
Michael C Gregory
  • Investor
  • Las Vegas, NV
Replied

Brent:

The question is: How do you buy underwater properties and make a profit?

Thanks.

Mike

2 Votes
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