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Re: $250000 Judgement, Possible Rental?

September 12, 2016 09:14AM
Quote
Bill H
If you were the judgment lien holder would you walk away from the $250,000 ?

You are thinking of taking it subject to with the intention of walking if the lien does foreclose.

You are betting on a solid 20 months of "Non-Eventful" rental, no vacancy, no maintenance, PERFECT everything.

Think about that for a bit.

Could you be charged with "Rent Scamming" ?

$150,000 in equity leaves you only $100,00 in the RED...and...eight years is a realtatively short time in real estate.

What is the property worth now ......and.....what will it be after TWO presidential elections ?

Is the RISK worth the REWARD ?

Have to agree with Bill - for the most part, but...

I respect your creative thinking on this one and I think if you noodle on it a bit more you might find a way to profit. Focus on the judgment. Perhaps the judgment creditor would settle for a fraction of what they are owed? There's lots of reason they would do this. Perhaps the judgment is not very solid. For example, is it a default judgment? What do you have to lose with a phone call to the judgment creditor? Maybe you can partner in some way?
Subject Author Views Posted

$250000 Judgement, Possible Rental?

notconor 350 September 10, 2016 09:49AM

Re: $250000 Judgement, Possible Rental?

Bill H 272 September 11, 2016 12:25PM

Re: $250000 Judgement, Possible Rental?

MarkS 259 September 12, 2016 09:14AM

Re: $250000 Judgement, Possible Rental?

Bill H 219 September 12, 2016 07:07PM

Re: $250000 Judgement, Possible Rental?

Chops 112 December 29, 2016 01:24AM



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