Tax Liens & Mortgage Notes
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 about 9 years ago on . Most recent reply
Buying the Property from a NPN
Hi all,
Here's a highly simplified hypothetical situation. Let's say I buy a 1st NPN for 20k with an UPB of 100k and it's the only lien on the house. What's stopping me from forgiving the debt and paying the owner say 5k for the title, then turning around and selling that home for it's ARV? I haven't heard anybody mention this strategy but it seems like a much better option than foreclosing. Is this a realistic strategy or is there something I'm missing?
Most Popular Reply
Bob Malecki
#5 Tax Liens & Mortgage Notes Contributor
#5 Tax Liens & Mortgage Notes Contributor
- Investor
- Kingston, WA
- 1,451
- Votes |
- 1,723
- Posts
Bob Malecki#5 Tax Liens & Mortgage Notes Contributor
#5 Tax Liens & Mortgage Notes Contributor
- Investor
- Kingston, WA
...and sometimes we reference our borrowers as PITA = Pain In The Arse...