Started By
Message

re: Selling stock to buy foreclosure

Posted on 1/4/24 at 8:29 pm to
Posted by TorchtheFlyingTiger
1st coast
Member since Jan 2008
2137 posts
Posted on 1/4/24 at 8:29 pm to
If you have enough invested assets borrowing against a Pledged Asset Line may be a better option than HELOC. I wouldn't sell stock and realize the tax hit until aftwe the winning bid goes through which might be too late unless you have other cash lined up to finalize sale. My county requires 5% deposit for auction (forfeited if you win but don't come through w full payment) and balance is due next day.

If you dont wind up renting or flipping the house it just sounds like an expensive alternative to renting a storage facility and potential maintenance liability. Hope you don't get squatters in a vacant home just used for storage.
Posted by Drizzt
Cimmeria
Member since Aug 2013
12956 posts
Posted on 1/4/24 at 9:03 pm to
I was already looking at buying old shop space for my wife’s business so this is a better alternative since it’s so close. It’s also the classic example of one of the worst homes in a great neighborhood so it’s a good investment. I’ve renovated before and could probably flip this into a $300k sale with little renovation if rates drop and the market returns to normal. The house next to it is $900k.
first pageprev pagePage 1 of 1Next pagelast page
refresh

Back to top
logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram