OfflineIs it possible to master lease an apartment building that is a potential short sale? The property is worth about 700K with 800K, still owed to the bank. I wish to offer a master lease with the option to purchase, maybe 5 years, down the line as I see tremendous potential with this building as the rent can be increased and the building can be converted to a condo. Is this doable? I know I may have to make up the arrear mortgage & tax payments to make it current. What are the pitfalls and things I should watch out for?
Any advice is greatly appreciated.
__________________
Does anybody know the answer to this one?
Free Lead Generation
Sign up to become a Bird Dog