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Updated over 3 years ago,

User Stats

5
Posts
1
Votes
Gilbert Jagot
  • Rental Property Investor
  • Thief River Falls, MN
1
Votes |
5
Posts

How to go about buying/selling at the same time?

Gilbert Jagot
  • Rental Property Investor
  • Thief River Falls, MN
Posted

I currently have a house in La. that is being repaired thanks to Hurricane Ida. It's also been needing renovations for a few years now. The mortgage (Rocket) is about $87k and the Zestimate is about $167k.

I'm currently working out of state and am looking at buying an old trailer and land for about $40k.

How would I go about handling this transaction? Should I get real estate agents in both locations? Would a mortgage company do something like a transfer to the lesser value property?

In a way, I want to rent out the old house but I have enough on my plate as it is.

I'd also like to sell the house and buy the trailer with the "proceeds" but my girlfriend still needs the house to live in. I'd move her up here but the hotel I'm being housed in doesn't allow pets.

Any suggestions or article links would be helpful.

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