Re: Short saling investment properties at one time

Re: Short saling investment properties at one time by Garry (Iowa) on October 23, 2014 @11:49

Here's my suggestion. Rent all 3 places out for the winter at whatever you can get for rent, and keep all your mortgages current. In the spring, vacate the paid-for unit, fix it up really good, and AUCTION it off for whatever you can get for it. That gives you all cash-on-hand immediately. Then either keep renting out the other 2 until the rental market or the for sale market turns around, or sell one at a time, at auction,at a loss, and use the cash you now have from your first sale to pay off the under water loans on the properties. You are between a rock, and a hard place, so no matter what you do, your decision is going to affect you negatively. Good Luck

[ Reply ] [ Return to forum ]

Re: Short saling investment properties at one time - Landlord Forum thread 326206