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Updated about 8 years ago,

User Stats

6
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0
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Kerry Brooks
  • Real Estate Investor
  • Saint Augustine, FL
0
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6
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Advise on best loan type for this situation

Kerry Brooks
  • Real Estate Investor
  • Saint Augustine, FL
Posted

Hello all and thank you in advance for any help. My mother passed away last year and left a lake house to my sister and I. It is paid for and has been listed for sale but so far no offers. I want to buy my sister out and keep it for a rental for now then look at a rehab and flip in 3 or 4 years. It is appraised at 265k and I could buy her out for half. My question is what is the best financing method if I want to pull out enough cash to have down payment on another deal? She will want cash so creative will not work.

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