Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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 about 4 years ago on .

Account Closed
  • New to Real Estate
  • Orange County. CA
6
Votes |
26
Posts

Should I buy my mom out?

Account Closed
  • New to Real Estate
  • Orange County. CA
Posted

My Parents divorced with a house worth approximately 600k. There’s a 200k mortgage left. My mom wants $150kish to buy out her half of the house. Me and my father currently live in the house. He has enough $ for the rest of the 10 year mortgage + bills (Social Security, Retirments accts)

Would it be financially wise to buy out my mom in this situation or should I just let them sell my childhood home? Currently Zillow estimates 5% appreciation yearly of the house in the current neighborhood/city it’s in.

I would own half the house for roughly 150-180kish and my dad would continue to pay off all the bills/mortgages. He has also reiterated that I would get the entire house later in life, contracts signed etc. 

I'm in a strut and would love some help. I am liquid enough to pay her off but would be most of my savings. I'm young 20s so I'm not sure if that makes a difference or not in this situation. I really wanted to get into real estate investing soon so I am kinda scared to try and refinance and stuff and work out a mortgage with my name because I wanted to FHA a multifamily in a few years so I feel like giving her cash is my only option..