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Updated over 5 years ago on .

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14
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0
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Annetta Barnes
0
Votes |
14
Posts

How to purchase inherited property without banks

Annetta Barnes
Posted

Hey BP. So my sister and I inherited a property from our mom 2 years ago. I have been living in the home since my mom passed but now we would like to buy the house, fix it up and rent it out. The ARV is $120K the remainder on the mortgage is $42K and repairs/updates would be about $5K-10K (if even that much). Any suggestions on how to get funding for the property other than a bank. Is there any way we could tap into the equity for this?? The property is still in my mom's name and my sister is the administrator of the estate so the property is listed in c/o my sister. Thanks in advance!!