Financing in 01109>Question Details

11november, Other/Just Looking in 01109

what help is there for investment property owners in ohio? I have a first and equity on one that will NEVER sell for what I owe on it. mary g

Asked by 11november, 01109 Sun Oct 24, 2010

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#1. Short sale it if you owe more than it's worth.

#2. Wrong Springfield section. This is Mass. You want Ohio.
0 votes Thank Flag Link Fri Jan 14, 2011
Zmbrennan,

Mary, does not need help she already has an equity loan on it, she knows the game took the risks and now wants to be bailed out?

Bail someone out that is sick and can't work to pay the bills.

Have you owned any investment property???? Is it always a one way street???? If you can't pay for it you loose it. If you sell it for less than you bought it for it was a bad INVESTMENT Move on.
0 votes Thank Flag Link Sun Oct 24, 2010
11November,
Can you hold long term? Are you getting a decent cap rate at the moment. Can you increase rental income on it gradually and eventually raise the gross rent multipier for future sale? Is it a commercial property?
If its a single family residential check zoning and see if you can increase revenues with a grannie unit.
Its a tough time. Can you lease option it at a better price?
Try to solve the problem of cash flow so you can keep your investment for the returning market.
I know its tough.
Best of luck.
0 votes Thank Flag Link Sun Oct 24, 2010
I can't believe you'd ask a question like this.

ALL REAL ESTATE HAS RISK.

Do you need help with your stocks that have gone down as well, or your loses in Vegas.

Who do you think gives the Goverment money????? Or a better question is who do you think has to pay the goverment for the money they lend and owe?????


I guess its me cause everyone else seems to want a handout.
0 votes Thank Flag Link Sun Oct 24, 2010
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