Old lady must stay but I want to buy.

[Mike Lightcap]

Hi, I was wondering if anyone could offer me advice on how to creatively obtain a potential deal. A family I know, their grandmother (93y/o) recently fell and broke her hip. She is out of physical therapy and back at home. The family was looking to get some financial assistance from the State, (PA), however the state basically wants them to sign the house over for benefits. Now they are looking to acquire a private loan for what ever money they need. They need money and I want to buy the house. What can I do? The one hold up is that they said they don't want to sell the house because they want the grandmother to live there still. I haven't asked them how much they need but told them I am interested in helping out. Any advice on how I could creatively purchase this property? Did anyone have a similar situation, if so what did you do? Thanks in advance. Mike

[Jason Hirko]

@mike lightcap I would figure how long you think the max she's gonna stick around for, calculate the rent/taxes/interest/insurance/ etc for that period, back it out of the amount you want to buy it for, and make them that offer and let her live there indefinitely. Chances are, at 93, you'll come out ahead