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Updated over 9 years ago on . Most recent reply

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6
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0
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Jasmine W.
  • Residential Real Estate Broker
  • Chicago, IL
0
Votes |
6
Posts

Friend considering short sale on home I want it!!!

Jasmine W.
  • Residential Real Estate Broker
  • Chicago, IL
Posted

I have a long time family friend that is looking into a short sale on her home, I feel that once the bank approve her to short sale the home that it will be a good investment as far as a rental property for investment. I would hate to see this property go to another investor so my question is....right now I don't have numbers as she have not talk to the bank yet. my question is  right now I have absolutely no funds to buy the property, what are creative ways to fund this buy and fix once she short sale it?

Most Popular Reply

User Stats

19
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7
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Robert Fullum
  • Astoria, NY
7
Votes |
19
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Robert Fullum
  • Astoria, NY
Replied

@Jasmine W. Is there a creative way you could help your friend avoid the short sale and take over the property? I don't know the ins and outs of short sales. But, if a short sale will hurt your friend's credit and you'll have to compete with everyone else looking at the MLS, it might be worth the effort to see if the two of you could find a mutually beneficial alternative.

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