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Updated almost 9 years ago,

User Stats

17
Posts
3
Votes
Josue Caliz
  • New Haven, CT
3
Votes |
17
Posts

Is this deal too personal

Josue Caliz
  • New Haven, CT
Posted

Hello BP, as you may or may not know I am a new investor with little experience looking to make my bones this year in real estate investment. I've been reading everything i can get my hands on;

books, forums, Q&A, and listening to several real estate podcasts.

I recently received a scholarship with a local real estate mentor, who I know will propel me to the next level, and help build the foundation I need to be successful. 

I've written out my goal of 10 deals this year and have been sharing it with everyone I know. In doing so I was solicited by my mother in law for advice and help. She owns a multi family property for over 20 years and due to life, she finds herself with her head under water and no longer has interest in being a landlord. I'm currently renting out one of the units.  It is an excellent property with prime location but it is a fixer upper. To the right investor it would be an amazing buy n hold.

I personally am not interested in this as a buy n hold and I currently do not posses the knowledge and resources to fix n flip it. In my research I've found that wholesaling this property would be a viable option in this situation. 

My question is this, being that this acquisition can't simply be business due to the personal relationship I have with the seller, should I feel guilty in capitalizing on her situation even tho I will be helping her stay out of a foreclosure. At this point a short sale is her only option and I don't intend on getting rich on this one deal I am more interested in the experience and it was her who came to me for help. I explained to her my plan and the potential outcome and she seems ok with it but I don't want this deal to be thrown back in my face later in our future.  

What would you do BP?? 

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