Buy an investment property with a Reverse Mortgage

Buy an investment property with a Reverse Mortgage

Member since 2023 · 2 posts · 0 votes

True case. Cancer patient sells businesses and home and moves to Mexico. Goes into remission but realizes it will take all his remaining cash in order to come back to CA. He can't get a mortgage, no job. We do reverse for purchase on a duplex. He keeps $250K in the bank, lives in the front house, rents the back for income and returns to Mexico to "winter" six months a year. 

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    3y

    @Brian Wiesner

    Are you saying you will do a reverse mortgage?

    If so, investors cannot issue reverse mortgages

    7e investments53 Reviews
  • Member since 2023 · 2 posts · 0 votes
    3y

    I am a lender that works with investors.

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