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Updated over 7 years ago,
Please advise on Investing question
Hello i have been residing with my Ex wife for 2 years she now owns the property where we are staying, no mortgage.She wants me to buy the property from her and later invest the money with me since she doesn't work. The bank said they would do the loan since we are not legally married.
would it be a good idea to invest this way. We would later rent the property and move to a bigger home.
Any comments or other ideas. Is this a smart way of getting started since im using the bank loan. Eventhough i will start paying a mortgage on this property where I'm at right now. keep in mind that the mortgage that will be getting paid by tenants once i start renting it.
im only looking for ideas on the investment part only.