General Real Estate Investing
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by

1031 Exchanges
presented by

Real Estate Classifieds
Reviews & Feedback
Updated over 11 years ago on . Most recent reply

Opportunity - Upside Down Property what to do with it?
Hey everyone,
I'm a realtor in Metro Detroit and I have a client who is looking to sell her Detroit home in decent neighborhood. The home is upside down owes $54k on it, it's probably worth about $30k. The home does have a section 8 elderly tenant in the home who has been paying for rent for 20 years.
Any ideas on what I can do here, it would be nice to take it off her hands maybe assume the note?
Any thoughts and ideas are greatly appreciated.
Thanks!
James