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Updated over 5 years ago,

Hans Lindemann's profile image
Hans Lindemann's profile image
Hans Lindemann
  • Contractor
  • from Selah, WA
  • Member since Aug 13, 2019
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Hans Lindemann's profile image
Hans Lindemann's profile image
Hans Lindemann
  • Contractor
  • from Selah, WA
  • Member since Aug 13, 2019
Connect
Hans Lindemann
  • Contractor
  • Selah, WA
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1
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Innovative Strategies

Getting a great deal on a home... HELOC or not?

Hans Lindemann
  • Contractor
  • Selah, WA
Posted

Hey everyone, I have been remodeling my parents garage into a 900 s.f. living space for them. And in return they are willing to let me buy the property for what they owe on it. (my dad had a stroke and no plan for retirement) they owe $120,000 on it and it appraised for 320,000. My question is should I do that and then refinance or should I buy it from them for 320,000 and then buy an investment property with their money in an LLC. Or...? I'm new to this and open to suggestions my goal is to start flipping and then buy and hold.

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