Posted by jeff on April 22, 2002 at 07:23:35:
the ARV is 105K and his debt on the place is 125K? youd have to get a great short sale for this to have any money in it for you. since the loan is apparently short term still, theres no way the bank is gonna short sale it by enough for you to clear anything. youll be lucky if you get uot of that deal by writing a check to the lender for the extra 20K. WALK on by it.
if someone else knows how to make money off this id love to see how its done, maybe i shuold start looknig into these deals myself? think i better leave these 20K deficient deals to the pros, ill stick to the basics for now.