Posted by Ronald * Starr(in No CA) on September 10, 2003 at 12:34:08:
Sit at home and sing songs with your family.
Inquire politely of this friend “how are things going with the renter situation?”
Enjoy some good Mexican food at a good restaurant.
Put your shoes on in the morning.
Ok, I’m being a bit of a smarta.s.s. But your question invites such a response, it seems to me.
What do you have in mind? Are you considering buying the property from your friend and then having a non-paying renter who doesn’t live up to his/her word?
Do you know anything about the value of the property, the loan amount(s), the status of payment on the loan(s), whether there are other liens against the property? Do you know the rental value? Do you know the payments on the loan? Costs for insurance and taxes?
When you know these sorts of things you may be able to better make some decision as to whether you want to get involved with the situation.
Good InvestingRon Starr*******