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Updated about 2 years ago,

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8
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4
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First time posting! Would love some creative suggestions

Victoria Cocklin
Posted

Hi everybody,

I co-signed a flat in 2020 with my daughter.  Now after living there for a short time she is realizing how this home does not suit her life for a variety of reasons.  So, she is looking to move.  There is at cursory glance about $25k in equity in the home. She is a freelancer so there is a 1099, she has good credit but very little of it hence me co-signing.  However, she has improved in that area. The home has surrounding medical centers but not a large hosptial.  She has no interest in being a landlord as one of my thoughts was for her to rent it out.  The area in Chicago she owns the flat is descent and will have no trouble getting a good tenant. I do not live in Chicago.  I currently own a few rental properties and literally just closed on a home that I intend to use as a MTR.  So, the dilemma is what to do.  I feel that selling is not a good idea.  However, what are some options for her to come up with her own down payment if she keeps it.  That is the bulk of the info, I am really open to all sorts of ideas and questions so I am just throwing it out there.  Hopefully  something lands that is right for this situation.  Thank you all in advance for your insight!

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