All Forum Posts by: Peter ODougherty

No pain, no gain? Lol. I’ll take it under advisement. Thank you, Bon.  

Thank you Theresa and Noah. Are there any tax implications for the trustees in doing this? And to get a mortgage for a flip , would it be the same process as if I were buying it on the open market? I currently have a conventional mortgage on my primary residence. 

this is a strange (morbid) subject. My wife’s grandfather is 101. There are four heirs including my wife’s parents. Several family members are not on great terms. Her grandfather has a home (in Nassau county NY) that needs serious updating and some significant repairs. Average home prices I’ve seen are anywhere for 800 to 1 million for a home his size but in more updated shape. My thought is to attempt to purchase to flip after his passing). Any thoughts on how this could work for the benefit of everyone without anyone thinking I’m trying to “get one over” on them? Is there a way to do things without incurring a ton of closing costs? The property is currently in a trust. This may all be a pie in the sky dream but was wondering what you all thought and any advice you may have. Thanks!!

Hi all, just getting started on bigger pockets. Don’t own a thing even though I’ve wanted to take the dive for 10 years. Would love to start building wealth more quickly than just doing our typical 9-5 and seeming to get now where. Would love to find a short term rental in the Catskills…. But no idea where to start or how to determine if something would be a good investment   Looking forward to learning!