Hey BP,A friend of mine is a bit underwater on their home in Phoenixville, PA. They bought it in 2009 for $173k and it's worth about $150k with about $150-155k left on the loan. They need to move in another year or so...

I am a minority partner in commercial property that is underwater. I and my partner bought this property before the meltdown. To make it simple paid $2 mil probably worth $1 mil or less. My partner run the property...

Time to pick your brains!

I own five properties in northern NJ. Total of 17 rental units. The problem is I am cash flow negative on 4 of them and the value of 60% of what I paid for them.

In the long run, does it m...

Hello BP,I have had a rental property for the past 5 years.  The property value is underwater due to the second mortgage on the property.  I purchased the property as a primary back in 2008 with a 80/20 mortgage.  I h...

I have been trying to do real estate deals since 2008. I had large deal with HUD to rehab an old school building. Due to health issue I had to drop it. Then the 2010 bust forced a short sale of a investment house. ...

I looked at an REO today and there was at least 5 feet of standing water in the basement. Hard to tell exactly how deep it was but let's assume ceiling is 8 feet and there wasn't more than 2 feet between water level ...

What's up BP! What do you do with a house that's going through probate, on a reverse mortgage, and the as is condition is worth $110K, and they owe $185K?  What will the bank do in this case? Out of curiosity sake. 

Owner is selling his motorcycle to pay the mortgage due to wifes medical bills. He is married, employed, and has a couple of children. Before I contact the owner, I would like some feedback from the BP community on ho...

Dear Bp,

I enquired about a home for sale today. The agent told me the owner has been in arrears for the past year but the bank have not yet foreclosed. The owner does does not want to do a short sale. The li...

Searching for solution ideas here.I have a client rehabber in Chicago who came to me halfway through a gut rehab fix and flip. Her previous contractor had grossly underestimated the scope of work, she fired him and is...