Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 17 years ago, 09/06/2007

User Stats

35
Posts
0
Votes
Keith Schellhardt
  • Property Manager
  • Collinsville, IL
0
Votes |
35
Posts

Any suggestions welcomed

Keith Schellhardt
  • Property Manager
  • Collinsville, IL
Posted

I've been approached by an individual who has several properties that supposedly is scheduled to go into ForeClosure within 30 days and is seeking help.

Indiviual expressed the following:

[b]"I am open to any suggestions. I do not want to lose the properties or
have foreclosures on my credit.

I would sell one or more properties outright at a discount.

I would take on a partner to hold and manage the properties. They were
all acquired in the past year from another wholesaler and I was hoping
to keep them for 5-10 years. I do not mind property management. I
just got behind trying to rehab the one large home. The renovation and monthly payment are killing me.

Or any other creative ideas.......make me an offer. Every house is in
a safe neighborhood with well screened tenants who pay ontime. All
homes are rehabbed, updated, and up to code. (Except the one large home which needs more work and another one which only needs paint and some carpet.)"[/b]

I need some fair and creative ways to see if I can help.....WIN-WIN situation is what I would like to offer.

Total of seven (7) houses
$1,115,000.00 still owed
$230,846.00 in supposed equity

Thank you!

Loading replies...