Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 9 years ago,
What are the options to help someone in trouble?
I've come to find out someone is in tax trouble with their property. Taxes have been sold at a sale and the redemption period is around the corner in 90 days or so. They own the property completely (commercial property). Not sure they will have the money to bail out and save the property. What can they do?? They have never been in this type of situation before and asked me about it because they know I have an interest in investing but I'm not qualified to give them solid advice or the means to buy it from them and work out some kind of deal to sell it back. So here I am, asking BP.
- Sell it to a cash buyer and close quickly and pay off the taxes?
- Can they take an equity loan out if their personal taxes are not in order or not filed in the last couple years?
- Are there Lenders that offer assistance with this sort of situation?
What can they do to save their investment? All helpful replies are greatly appreciated!!