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Updated almost 6 years ago on . Most recent reply

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102
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27
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Brandon Becsi
  • Rental Property Investor
  • Richmond, VA
27
Votes |
102
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How can I make this a win - win?

Brandon Becsi
  • Rental Property Investor
  • Richmond, VA
Posted

My mother in law has a home that she hasn't lived in in over 10 years that she is trying to sell. Its an old farm house in Virginia on 19 acres. She's asking $125k on open market but I could probably get for 100k being family. It needs about 10-15k work immediately to make livable/rentable. After basic repairs ARV around 160k-180k. She owes 45k on it and her current payment is $500mo. What is something I could offer her to be win -win for both of us? I want property for rental and to have the land. I could rent for about $1200mo.

Most Popular Reply

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13,374
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19,408
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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
19,408
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13,374
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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
Replied

You're asking the wrong person, the wrong question.  You need to ask your mother what she wants/needs out of the house once she sells it to you.

Cash?...How Much?...For What?

Income?...How Much?

Then structure the deal to give it to her.

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