Buying or building Duplex w/ brother and 380k in cash

[Cody TuathaDe]

TLDR: not sure how to maximize about 380k worth of cash in the next 5 years or less


Family is well off, and will be giving each child 250k after our nana passes, and once they have a primary residence and can qualify for it w/out help from the family.

~inheritance money can ONLY be used towards primary residence. 

~I have a 2.5% interest rate on my primary house I do not want to pay off and 200k in equity. 

~Brother will never be able to qualify for a house alone with his current career path. So by doing this they also can qualify for the 250k to put towards their half of duplex. 

~we are going to buy a duplex together and use my equity in a heloc for down payment as well as save another 20k per couple over next year 

~wife and I (plus 1 kid)  will move to one side, His family to the other (2kids)

~going to turn my house to a rental, with the eventual goal to turn my half of the duplex to rental as well (goal is 50 doors by 50 years old I’m 31)

~Market is a bit light, i am considering and open to building duplex. In spokane valley area

~Would love any and all thoughts on creative ways to 1 be the most creative w/ both the heloc and the 250k blessing that we will receive afterwards. Thank you!!!

[Alonso Noriega]

Cody,

I have a duplex I am interested in getting rid of. It's in Spokane, WA and in a decent neighborhood. It's off market, and I currently have an FHA loan on it and the interest rate is 3.25%. The monthly payment is about $2,300 which includes insurance, property taxes, and P&I. I am very interested in doing creative financing with a potential buyer. If you message me your number, we can speak.

This is an up-and-down duplex, and an unfinished basement with the ability to turn into a triplex. The property is also zoned for commercial-mixed use. There is a tenant upstairs who has been pleasant to live with, and her lease ends in October of 2024. She currently pays $1,295.00. I am in need of funds, and listing my duplex would entail many months. If you are interested, please let me know.
Ideally, we can work something out where you pay me a lump sum spread and you assume the loan, that is the best win-win situation.