OfflineI did a walk thru with a potential client that says he may be able to qualify for a shortsale. Can I lease option to one of my tenant buyers and at the same time do a shortsale for the actual owner?
The tenant buyer may or may not stay, can never predict that, but just wanted to know what the vets thought or are doing. Thanks.
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You can't morally or legally L/O a property you do not control. AFTER the short sale is approved and you close on the property then you can do what ever you want. Right now you don't have any idea what the lender will accept. Who knows what may happen during the negotiation period with the lender. Making money L/O upside down properties is not a smart thing in my opinion.
Walk away, this is nothing but trouble.
Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site