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Updated over 2 years ago,

User Stats

216
Posts
110
Votes
Renee Harris
  • Real Estate Agent
  • Los Angeles, CA
110
Votes |
216
Posts

Help me help my friend stay in her house

Renee Harris
  • Real Estate Agent
  • Los Angeles, CA
Posted

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.

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