New investor question

[Philip Claessens]

Hi everyone,

My parents are about to retire. They didn't save anything for retirement and will be living off SS checks. They owe 375000 on their home and its worth about 600000. I have been talking to them about buying their house for what they owe, selling my house and building a granny flat on their property for them to live in. I would be using the 100k from the sell of my house to build to granny flat. This plan would allow them to retire without worrying about so many bills. I then could get a HELOC and utilize that to begin my real estate investing plans.