All Forum Posts by: Jose De La Macorra

@Jacob Lapp

I agree. This is something I have to talk to him about but have a feeling he does not want to cap it to a certain amount of years and in his defense saying even if I live 20 years more not only will my Stock portfolio have exponentially increased but so has the value of the house.

This guy I met in person is sadly pretty sick but mentally he is fine. I will be speaking with a lawyer see what he/she recommends me and will have to see if its something worth putting my time into.

Thanks for the comment love seeing different peoples point of views!

@Theresa Harris

Only thing I would be in Charge of is the $1,200. He still owns the house so he is responsable of all expenses/taxes. Everyone has told me to just talk to a lawyer but wanted to hear what the BP community thought about this.

Also: If anyone knows any RE Lawyers in Texas. Their info is appreciated.

Thanks

I have an interesting/very uncommon situation I would love to get some comments on what you all think. While looking for properties I found an elderly man who has no family left. He never got married or had kids. He currently has Chronic Kidney Disease and although he is on Medicaid he needs money for his monthly expenses. His house is worth around 180-200k as of right now. He wants someone to pay him $1,200 per month until he passes away. He has said he can add me to his will and make it irrevocable or do an irrevocable transfer of death deed for his home and a 25k stock portfolio. He is currently 70 years old and as I said doesn't have the best health. He is very old school and does not want to do a reverse mortgage. Any Ideas? 

Thanks.