Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago,

User Stats

2
Posts
0
Votes
Casey Olson
  • Federal Way, WA
0
Votes |
2
Posts

Buying grandma's rental in Palm Springs

Casey Olson
  • Federal Way, WA
Posted

Hi guys, 

First time on here. Love the content. Very helpful. Background: I live in Washington and am going to buy my grandma's retirement home in Palm Springs, Calif. and use as a rental. She is selling to me for a sweet, sweet price. She is on a tight income, my grandpa died a year ago and she is now living in an assisted living facility in Seattle. 

I could just pay her cash for the property, but want to make sure she gets the best deal, in terms of taxes, and don't want her to have to do a lot of work on her end. I just want to make it as easier as possible on her. What would be the easiest way to cost her the least amount of money and time? Could she gift it to me? Should I just give her the entire amount in cash? Should I just pay her a certain amount every month and she could sign the property over to me?

Hope this makes sense? I just want to do what's best for her. She also recently sold her primary home, which she will have to pay taxes on. 

Thanks for any advice

Loading replies...