I am trying to change my mindset and be more open.
Here is my situation I grew up with slumlords my parents paid all cash for thirteen properties. They passed away my Father at the height of the market. I live in California so the properties got appraised and now have been raised in property tax I am the sole beneficiary.Not the executor trustee The Trust says I do not receive the whole estate until Im 65 I am 49.My Aunt is the Trustee she does not own her own home and works a minimal paying job. Her risk level is 0 she has fears and has The trust money sitting in mutual funds something my parents would never do! They always taught me to make my money work for me. I have bought my first home at 18 one bedroom house for the price of 15 thousand. I sold that house two years ago for 80,000 It is my back up in case of emergency I have had some emergencies and only have 25,000 left
I have bought three properties I live in one primary residence valued at 800,000 and have a rental that is paid for that is rented section 8 for 1900. I rent every room in my house out that my kids are not in so that brings me 1500.00 more I get 1000.00 from the trust only but grateful I get it and I have another rental I covertly rented for 1700.00 I am actually working on two more rentable places in basement and a tiny home I got a good deal on to rent as well.that will bring my income to almost 7500 a month
I have a resource to get 140,000 k as long as long provide a house to them they can rent for the rest of their life,they are sick and we talked the terms out as he will sign the house over upon death. I will rent to him for remainder of life for 1000.00 My thoughts are in ca adu are allowed and almost pushed upon us I have raw land with water to it I was going to write a plan to have a structure manufactured home cause the utilities and set up are provided in cost rent to the guy who is willing to buy the structure and borrow some money from the trust it says she has discretion to do that! My Aunt and I had a talk she is willing to sign land over to me if I get financing she said she will not finance a multi million dollar idea. I guess even though the numbers dont make sense I want to give my kids a place to live when I am gone and a rental a piece as they get nothing until there 30 from my parents trust if, I am gone It might mean putting my private residence up for grabs to get deal done or just invest somewhere else and she told me to write a business plan as to what I want to do she said she will get a financial planner and go over my business plan. I feel this is my last shot as i am writing it out it makes no sense unless I add one jdu and one adu. Is there any private money lenders what would your business plan be. and be nice I am scared I always thought what was is not and I if you say get a job i will cry lol I never worked before and don't even know where to work if I have to.
@Brandi Baker I'm an active investor/developer in San Diego,CA. I specialize in urban infill development. I'd love to hop on a quick call with you and see if theres anything i can do to help you work toward a business plan that makes sense in you situation. If you'd like - send me a message and lets connect