I am a new real estate investor and am interested in doing short sales but don't have much money. I would appreciate any advise as to how to do it without having a bunch of money. I know the basic concept of short sales but wanted to know if there is a way to get around using my money. Thanks
I think you are confused. Only the owner of a property can do a short sale. This is a deal with the home owner and the lender. The lender agrees to accept less than owed. The big problem is the seller has to PAY INCOME TAX on the amount of the loan not paid.
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I think you are confused. Only the owner of a property can do a short sale. This is a deal with the home owner and the lender. The lender agrees to accept less than owed. The big problem is the seller has to PAY INCOME TAX on the amount of the loan not paid.
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