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Updated 12 months ago on . Most recent reply
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Renovating house which I will receive in future inheritance
My uncle has a house in Thailand he owns and rents out. He has suggested for me to get on the property ladder I could give him 10% of what the property is worth to convert it from a 3 bed 3 bathroom house into a 2 bedroom 2 bathroom apartment and another 2 bed 1 bath apartment. For this I will also receive 10% of future rental income for both properties, WHICH would be a 11% annual ROl for me. However since he has no children me and my brother would currently receive it in inheritance 50/50 BUT if I put the 10% down then 90% will be split 45/45 leaving me with 55% only gaining 5% if I was to not invest anything. I don't know whether to go ahead or not as it would take around 5 years to make up for that lost value even though the renovation will add to the total value of the building and land.
Any advice would be appreciated.