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Updated almost 6 years ago on . Most recent reply
Buying my parent's home
Hello all,
My mom cannot take care of her 5 bedroom house anymore and is willing to sell it to me way below market value, 120K, since it will need a decent amount of rehab before I can rent it out. My mom owns the house outright. My question is what is the best strategy for financing? I do own another rental property than has about $150,000 of equity.
Most Popular Reply
Brandon Sturgill
Property Manager
Pro Member
- Real Estate Broker
- Columbus, OH
- 1,770
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@William Brundidge Ask her to carry a note...maybe 10% down...5-yr term...30-yr am schedule...5% interest...and I would cover her closing costs since she's your mom ;)
Good luck
- Brandon Sturgill
- 614-379-2017
Realize Property Management Group
13 Reviews
3.5 stars