Updated over 17 years ago on . Most recent reply
Advice on a house.
I have a friend that called me that just want to get rid of a house they are trying to break even on the deal.
The house has a mortgage of 50,000
(3 bed room , 1 and a half bathroom)
Houses in that neighborhood are worth about 75,000
The house has about a ballpark of 20k in repair.
I suggested them to try to "subject to" or fix the house and rent it out and hope that the house appreciates than sell it.
What do you guys do in this situation ?