We plan on living in the house and doing most of the fixes and renovations ourselves.

The first agent is absolutely certain the house will sell in the high 400’s.

The borrower can then legally sell the collateral in order to recuperate their money that was lent.

I assume there is zero or almost zero appreciation and that’s the reason you aren’t selling tax free?

Here to rub minds and learn from everyone

What I see often is these companies will put you in old houses, in the worst parts of town, with the toughest tenants. 

@Matthew McCarty At the beginning of my investing career, I was constantly looking at websites like Zillow and Redfin to see what houses are selling for so that I have a good feeling on the market I picked.

I’m ready to get this thing done, do open houses, and try to sell it.

I think you'll more than make up the price in higher selling price.

They just moved out and the house needs some cleaning up.