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Updated almost 5 years ago,

User Stats

22
Posts
1
Votes
Hubert Ato-Bakari Chase
  • Investor
  • Orange, NJ
1
Votes |
22
Posts

Can't win for losing

Hubert Ato-Bakari Chase
  • Investor
  • Orange, NJ
Posted

Greetings BP,

I need some advice. So, I have my property ready to sell. It was under contract but buyer ended up losing her approval with the lender so now I'm back to square one. Only problem, I've been paying the mortgage on it since July because I had to evict the tenants who occupied it. Long story short, I'm out of money So what is my best move.

A. Refinance it. If possible. It's a 1-family not owner occupied. plenty of equity though 100k. If I cannot refinance then this point is mute.

B. Rent it. Put it back on the market to start generating income.

C. Keep it for sale and see what I get. I'm totally out of money so this if I don't close in 30 days I'm screwed.

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