A variation of straight seller financing is for the seller to carry back a second so that you can borrower the funds for repair but not to purchase.

What does the borrower who lost the property need to pay to get the property back?

The loan does not specify who you have to use for the repairs (even the borrower), but they have to "be qualified to do the work and complete it in a timely and workmaship like manner"The budget would be very important as the funds for the repair are limited + small amount of contingency funds and are held in escrow until the completion of work.If it is a HML than the budget would still be important as you would have had to calculate them as accurately as possible to protect your profit.

Wouldn't the realtor tell you to refi to stop the foreclosure and give you some breathing room to sell?

STOP THIS KIND OF B.S.By many, re investors are considered to be less than loyal, less than honorable, less than ethical, less than compassionate, and some would say downright vultures.

I don't have the experience you folks have, but I see basically the same thing here: houses sitting on the market, being taken off, even rentals sitting empty, few people even looking.Builders have stopped building in my area, but there is some commercial construction on the other side of town.I wonder, is it time to take all my pennies from the bank?

If we can buy some more time, we can get tenants in and stop the bleeding.I'll talk to my partner about possibly structuring an option with a potential buyer.

Should get a lot of views since it is on a stop light.

Maybe you will lose money because you did not stop this sooner.

Now is a great time to "Find and Assign" some deals.Forget about the trying to be a real estate investor, stop crunching numbers, forget about theory, forget about learning about short sales, equity purchases and all of that stuff and just start asking my favorite question."