I need help with this Foreclosure! - Posted by Lee

Real Estate Investing
1

Posted by NJDave on April 23, 2000 at 08:38:18:

OK, so you know the inventory. But what does the mortgagor want to do?

2

I need help with this Foreclosure! - Posted by Lee

Posted by Lee on April 22, 2000 at 11:55:06:

Hi all

I’ve got a problem here, can you help?

Borrower owes $300,000 plus, from what I have been able to estimate so far, the properties are worth over $600,000. (conservatively)

I can’t do the deal by myself, not enough cash and I don’t have the right connections.

I need the name and phone number of someone that would be intrested in shareing in something like this.

Thanks

Lee

3

Re: What does the Homeowner want to do? - Posted by NJDave

Posted by NJDave on April 22, 2000 at 13:20:31:

And how can you help the Homeowner resolve what may or may not be a problem?

4

Re: What does the Homeowner want to do? - Posted by Lee

Posted by Lee on April 22, 2000 at 15:51:04:

Hi NJ

Their are 10 properties included in the suite.

  1. 17 apartments on one lot (remodeled with in the last year)
  2. a lot near those apartments
  3. a commercial building (rented) don’t know the income yet
  4. a vacant res. lot
  5. another vacant residential lot
  6. a 2 story house w/ a two story duplex in a nice area
  7. Nearly an entire city block w/ a sfr in the path of expanding commercial development
  8. 22 acres of land in a sought after area for residental development
  9. 105 acres land 15 to 20 miles from town
    10)432 acres (farm land) near MI river in LA

He needs help and I need someone with more stroke than I have.

Lee