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Updated over 7 years ago on . Most recent reply

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3
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Kevin M.
  • Springfield, MO
0
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3
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$ for building and buying a property

Kevin M.
  • Springfield, MO
Posted

My Dad has a 2 acre property that he wants me to buy from him for $25,000 so he can complete the current construction and put up a small shop.  Then he wants to live their for the rest of his days; pay the payments and the property would be out of his name.  He tried to get a loan through his bank, but wasn't approved.  

I don't have that cash, but I do have it in credit cards, although that isn't logical.  What would be suggested?  I have a house with some equity, but we need to upsize soon.  Also if I were to get a property loan for his, it seems it would be tough to get another loan to upsize for us?  We are both in Missouri.

Thanks

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