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Updated almost 14 years ago on . Most recent reply

User Stats

29
Posts
3
Votes
Jessie Watson
  • Investor
  • Bossier City, LA
3
Votes |
29
Posts

Help with Possible Short Sale

Jessie Watson
  • Investor
  • Bossier City, LA
Posted

I have a property under contract that was a duplex currently being used as a single residence. It can be converted back to a duplex and that is the normal for that area. The owner is behind about 9 months with Chase and the principal balance is about 38K. If the house was fixed up it would retail for about 75k to 90k. My question is how do I go about doing a short sale or would this be a good wholesale deal? The house currently has a non-paying tenant that is being evicted.

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