Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 5 years ago,

User Stats

32
Posts
21
Votes
Dean Klein
21
Votes |
32
Posts

Purchasing property back from an ex spouse

Dean Klein
Posted

Back story: Wife and I divorced June 2018, at the time, we had 6 properties and she received 2 in the divorce subject to the mortgages on the properties. Ex wife has a drug problem and has not been responsible with the properties as far as managing tenants, and making sure the mortgages got paid. I had to step in before my credit took a hit, over a year of back and forth in court, she has been ordered to sell both places to relieve my liability.


One of the properties is a duplex with good numbers, I used to own the property and a good amount of money was spent rehabbing it at that time. My ex has been coming up with excuses in court to delay listing the property however I believe the numbers are good even at the current fair market value and finding duplexes at reasonable prices in my area is not easy. I'm planning to use the FHA loan to owner occupy the property for one year before I move back to the house I am in now. Would this be something you would do given the drama surrounding it, or would you pass? Just looking for opinions, to me it's just a business transaction, plus it will end a year long stress.

Loading replies...