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Updated 6 months ago,

User Stats

59
Posts
21
Votes
William C.
21
Votes |
59
Posts

Creative ideas: Pursuit of off-market forever home mixed with our rental portfolio

William C.
Posted

I have had success bringing complex situations to the creative folks of BP and letting you all do your thing... so going back to the well again.

There is an area of our town that we would like to purchase our forever home. We have made a few contacts there and have a few off-market leads. We have one in particular that we feel good about. We are requesting ideas from the BP community on how to take a creative approach to landing our forever home, while being financially responsible, and working within the limitations of the seller and ourselves. Details below:

-This would be our primary residence, not an investment property (but it does have optionality via an ADU setup)

-The seller is interested in selling and relocating out of state in 2 years when they retire

-We have a primary home (that has been a cashflowing rental) in the same town. They have not expressed interest in this home in a swap. Perhaps they would entertain it as part of the deal as a cashflowing rental for them?

-We have two rental properties total in other states. They have not expressed relocating to either of those cities/states. May not be out of the question. Or once again, more opps. to make one or both a part of the deal to give them rental income?

While we are OK waiting 2 years to move into the home, we are not OK with waiting 2 years to be at the whims of the seller and or the market changing. Our preference is to take ownership now, so that we have an element of control. Could this be a rentback situation?

Open to any and all ideas. I know this is an abstract topic, so ready to provide more context when prompted. Thanks for considering.

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