Innovative Strategies
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 2 years ago,
Help me help my friend stay in her house
Hi,
A friend is getting a divorce and her husband wants to sell the house to get his share of the profits. She'd like to stay in it. The house is in an exclusive area in los angeles. It needs comestic work on it. ARV after it is fixed up is 2.4 mil. The payoff is $800,000. She can't refi, her credit isn't great. The current mortgage is $5500 per month. An agent has already been by and said he'd move her into an airbnb, fix it up, new floors, paint, etc... and he'd list it and help her find a new house. She is thinking about that, but would like to keep the house ideally. Could a hard money loan help? What about a note buyer?
What creative stategies could work?
Thanks.