Do you own a nonperforming property?
Are you assuming values are going to continue to rise if you hold on to your nonperforming property?
Prior to 2008 many investors were buying properties assuming the values would continue to go up on nonperforming properties.
https://flic.kr/p/2fm85e9
As you know, many people ended up in foreclosure. The banks are using 2008 as a template on how to handle the lending landscape of today. I recommend you work from the lending institutions worst-case scenario.
Currently, banks are kicking the can down the road on foreclosures. Once we have a gluttony of foreclosures on the market, the value on your property has a probability of going down, unless your end game is to hold the property for another 5 or more years. As an investor sometimes you take what you can and( do not look back) move on to the next project.
In my opinion, the market is hot right now so I would take advantage of you being able to sell the property.
Wishing You the Best,
Karen Schimpf
| Â Commercial Capital, LTD |
| e: KarenSchimpf at gmail.com s:Â https://www.linkedin.com/in/karenschimpf/ w:Â www.applycommercialloans.com/ m: 512-354-5949 |
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