Inheritance:Double lot one block from the beach

[Amber Schenck]

Hi everyone,

A friend approached me with information regarding a beachfront property his family has inherited and I would like to help him with options. So I am reaching out to the BP community for advice and or possible investment opportunity for someone.

I do not have all the details as of yet, but what I know is the property sits on a double lot one block from the beach (in a very popular beach town). It is a ranch style home and the only one in the neighborhood that has not been flipped.

His questions were regarding:

-How can the family avoid having to go through an agent and pay a high commission

-He realizes the potential of this property and would like to partner up with an investor. He’s concerned he doesn’t have any leverage on his end. (He is a contractor and currently owns his own business)

-Is that even an option when the inheritance is split between numerous family members? He wants to partner up/develop/ and rent out. However, the other family members want their cut of sale as soon as possible.

-Inheritance tax.Inevitable… best options?

Thank you in advance for those who may be able to share any thoughts!