All Forum Posts by: Pedro Vargasdiaz

@Nathan Gesner great Answer! Contributors like you make this portal a valuable place to be part of! Thank you!

@Sarai Browne

You would see vacant lots in the same general places you find commercial Real Estate and Residential. However, as you may have seen, most lost sit at the MLS for months if not years unless there is something so special, that they won't even go to market.

I have also seen brokers that specialize in this asset type. I would leverage their expertise in your first transactions. Then, if you like the experience, maybe you can focus on that niche.

Good morning @Andrew Greer I would like to RSVP for this event!

Please let me know if there are still places available.

Thank you!

Regards,

Pedro Vargasdiaz

Hello Manuel!  Common situation for which a lot of parents do not have a plan. Although I can't say I have the perfect answer for this, I will address a few points I think you should consider.  1. Before your parents passing, putting the property under a trust may help you avoid the cost and length of probate. You may be able to connect here with members who are experts on that area. I just have received that advise and read about it repeatedly.  2. Buying the property from your parents will bring taxes to the current market value.  This does not seem to be ideal. On this point a tax accountant will be able to to give you more educated details. 3. Definitely include parents and siblings in the conversation once you have identified the potential options.  I would love to learn if you have found the best way forward.