Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here
Real Estate Deal Analysis & Advice
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 7 years ago on . Most recent reply

User Stats

27
Posts
3
Votes
Steven Escobedo
  • Lake Forest, CA
3
Votes |
27
Posts

Triplex / family/ good deal?

Steven Escobedo
  • Lake Forest, CA
Posted
Here is a hard one for you : My wife’s parents live in a triplex. Who is owned by her uncle on paper yet the uncle and her dad split the original down payment. So in true reality they are co-owners. Now that my wife is an adult her dad wants her name tied to the property somehow. The property was purchased for 500k and is worth 700 k approx. currently under 15 yr loan and 300k is remaining balance. Option 1 . Uncle would not mind being bought off for 200k and she takes ownership of the property. So maybe new loan? Option 2 . We get her on the loan? How that works I don’t know. What makes more sense? Is this a good deal? Are we hurting ourselves by doing any of this. Or are we sitting on a goldmine?

Loading replies...