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Updated almost 10 years ago,

User Stats

23
Posts
1
Votes
Roman McIntosh
  • Investor
  • Houston, TX
1
Votes |
23
Posts

Help need financing ideas

Roman McIntosh
  • Investor
  • Houston, TX
Posted

The house next door to mine is currently rented to my sister in-law. The owner informed her of intend to put the house on the market at the end of her lease in 3 months. We intended to buy the house using a self-directed IRA but it my understanding my wife and I cannot combine our self directed IRA monies in the same deal and cannot rent to the sister in-law because she is related. That realization hasn't left us much time to get a down payment that would high enough to cover the rent we can charge the sister in-law. If it all possible I would like to buy this house but don't have enough for a down payment. I do own a rent house free and clear the we collect $900 a month on that is worth about $75k.

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