All Forum Posts by: August Schmiedeknecht

Hello! I’m curious if anyone has purchased a home with a younger sibling with the intent of having them live in the home during their time in college?

My brother is going to be attending medical school and I’m hoping to leverage his ability to get a- low down payment loan.

I’m curious how people have structured similar partnerships?

The house we are considering is a 2 bed 1 bath off market for 70k. comp rents are 900-1100.

I haven’t done a ton of research yet, so I appreciate any input.

I’m looking at buying a duplex to owner occupy, but the current leases don’t end until March, 2022 (4-4.5 months from now). Is it possible for the seller to pay cash for keys to a tenant to get them to agree to terminate their lease early? Would it have to be vacant at close or could the agreement extend an additional 59 days after close as long as there is a signed document by all parties?

I’ve heard of cash for keys to avoid eviction, but can it be done with a tenant in good standing?

I don’t have the cash to do a 20% down payment, but if the house appraised for 15-20% more than the purchase price would that basically be the same thing?

Thanks in advance!

@Caroline Gerardo

That all makes sense, thank you for your input!

Hello,

I’m exploring creative financing for a currently occupied duplex.

Because there are leases in place I would not be able to live in the duplex upon purchase and I’m curious if living in a camper on the property until the lease is up would meet the requirements for a low money down owner occupied loan?

The scenario is assuming local laws allow the camper on the property.

Anyone have experience doing anything like this?