All Forum Posts by: Eric Horvat

No, we are retiring next August and she has current tenants til this December that she thinks will renew for another year.  We plan to list our house in late summer next year and if we sell before next December will find short term accommodations until that lease expires.

Her house is in Austin, TX.  Hot market now.  We're exploring options on how to use our money from sale. Our home ($200,000 - $250,000) to pay down principle and stay in. Her rental house for 2-3 years and then buying our retirement home.  If instead of loan or gift could we make it a sort of owner financing deal that our cash buys a % equity and we'd either cash out our equity at sale, or receive percentage of rent until sold.

Basically partnership where we gain equity share and stay in Her property rent free until house sells.  Plan to keep it 2-3 years to stay close to her, son in law, grand daughter until school age.  Then if we still like Austin we can buy there.  That might also be an equity share since it costs almost double for home in Austin vs San Antonio.  Daughter and wife want to spend more time and help with 2 year old grand daughter.

Thanks, her intention is to sell it fairly quickly.  I don't want to get into business, just help out to save them some interest and let wife dote over the grand daughter while living nearby. 

They sold a home in LA and ended up buying the house I'm talking about.  Then a few months later found one they liked better and moved to that one.  We would be intend to spend 2 years then move into our retirement house and recoup our equity when she sells, which is planned for 2-3 years.  It will be entirely paid off by then.

If not sold we'd take our 30% equity from rental income worst case.  

Just getting the preliminary info and trying to find out what is possible.

Possibly, but they (both earn 6 figures Austin tech types) put 20% down, and will pay another 100k on principle by then.  If our contribution was for 30% couldn't we structure it (in writing) to pay down a bunch of interest and live there rent free until sold?  Austin market appreciating like crazy and worst case we'd stay a little longer even though it may be smaller than we'd like.

My wife wants to sell our home next year after retirement so we can move closer to grandchild.  Our daughter has 2 homes with mortgages and is currently using one as rental.

Can we share equity by using our money from sale of our house to pay down principal of her loan (approx $250,000) and become % partners?   We want to live in that home for about 2-3 years to help with 2 year old grandaughter while trying to find a way to help her financially.  Then sell and use our % equity as down payment on larger home.

We want to sell our home and use equity (estimating $250,000) to help daughter save money on interest.  This is a 2nd home (morg bal $490,000) she has tenants now but we would live in it rent free while she pays taxes and insurance for 2-3 years after selling our current home.

Can we do this and structure it so we are partners and  % equity share?  After selling we would use our portion/equity to purchase new retirement home.