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in california

I have 3 houses, none have enough equity to refi. through circumstances(arms) and repairs I cant afford them all. Selling cost would be keep me from selling them for what is owed. I am getting behind in one of them. If the bank forecloses on one of them. Could they put a lien on my primary residence?

Yea thought so. Has anyone tried one of those "skip the realtor" sites, to avoid commission? I don't want to make anymore mistakes with this house.

its in Chandler AZ the market is slooowww. refi- is not possible, there isn't enough equity in it.

Hey, Your the main dude! Great site Joshua! Congrats on your success! Thanks for making it easy to get good real estate info!

the property is not cash flow positive -700 monthly. is the biggest reason. I didn't get a good mortgage on it. It's worth about 260k right now. I already spent 8k in repairs as well. I do have steady tenants leased it is leased until Oct.

I have a rental that has been, a little money pit. I want to sell it. What do you think? I know the market sucks (in Arizona)right now, but the cost of this rental is hurting me. I have other rentals doing much better. Has anyone tried one of those "skip the realtor" sites? I don't want to make any more mistakes with this house. But I do want to get rid of it. It's in decent shape now.

Any help would be appreciated, I am still a "young investor( my 3rd yr)".
thanks,
Chuck

Just found your post, juzamjedi, and wanted to say thanks for the "property prospect lesson". Good Stuff!
:D

All Cash, what do you mean by "Debt snowball". I am highly leveraged and don't like the "feeling". :beer: Any tips!
By the way I don't drink, but feel like I should!
thanks!

What about us noobs who hold property as rentals? is it a good strategy for noobs to get into rentals first? i realize now, thanks to you and Ryan, I could have started a little safer by doing a rehab or wholesaling. Generally what do you think about holding rentals for appreciation. My opinion is calif is a good place to have property for appreciation.
Although I have one in AZ, regrettably. :beer:
My strategy being hold for 3-5 years then sell one or two, but adding one a year every year.

Do have to add, I am cash strapped! Insurance, repairs etc. No real vacations in site. :violin: