All Forum Posts by: Andrew Agosto

Thanks for setting these up @David Plaunt, I'll be out of town for this next one but looking forward to the next time I can join.

Great to meet y'all. Look forward to the next one!

@Account Closed

Thank you for the thoughts. Long term lease option is interesting. All the properties are paid off and she has a will that would setup a trust that I'd be the trustee of. I know where all the documents are but haven't inspected them.

Thank you @David M. this is a good reality check. I'm certainly not set on doing this. It sounds like I should let it ride unless she gets to a point where she's going to sell it anyway and then look at it again and see if it makes sense for us to try and work out a seller financing option to minimize liability. Appreciate the help.

Thank you @Bill B. and @Andrew Freed, those are very good points. I knew there had to be some complexities. The properties might still be a good deal, even for strangers, but I'll tread carefully.

My mom is retired. She took over a few rental properties when my father died and it's been a nice source of income for her since they are paid off. However, she has expressed interest in being done with the landlord thing and has asked about my interest in buying. At the time I said no because they're not that convenient of properties for me and they provide good cash flow for her. But now I'm giving it a second thought that perhaps I could buy, give her a chunk of change up front and work out a loan to provide some steady income for her, skip the banks and start locking in any appreciation now (and not have to share it with my sister someday). Does anyone have any thoughts or experience on this? Other things to consider? Tax implications etc.?

Congratulations!

That's a good point @Daniel Anshus, I like where you're head's at.

This is a good tip!

@Daniel Anshus Thank you for the reply! That is good to know about the Minneapolis mailer saturation. To drill down further, if I'm primarily interested in multi-family I would think I'd be talking to the renters if I knocked on their door. Is that still beneficial? Otherwise I assume going to the owners residence would be considered out-of-bounds and potentially a little creepy?