All Forum Posts by: Todd Ashley

*not be buying it 

@Omar Merced Thanks! I will look into life estates. 

@Jessica S. I am actually taking my test in a few weeks (I took on a large remodel that ate all of my free time). They don't want to sell the house until after she passes (which could be years). I love the house and would not be it as solely an investment but with the plan to update it and move in. I will definitely look into an option fee! 

It's been a while BP and I could use your guidance! Here is the situation:

I know an older women who had a stroke and is currently living in her daughters 5th wheel so that she has assistance. The women desperately wants to move back into her house and her kids want that as well, but are afraid that she is not ready to live alone again. They have considered transferring the home over too a care facility in trade but then they are losing their entire inheritance. I would like to offer to purchase the home from them by giving them a down payment that will help pay for in home care and allow the home owner to live the remainder of her life in the home. After she passes away I would owe the remainder of the previously agreed on price (or it would turn into an owner financing agreement). The home is located in Portland, Oregon which is one of the hottest markets in the U.S. with virtually no signs of letting up. Is this a crazy idea? How could a deal be structured to ease their capital gains tax? The house is owned out right (purchased for ~35k) and is probably worth ~300k-325k in its current shape. Any guidance is greatly appreciated!

Thanks @Brandon Turner! I look forward to checking it out. 

@Joel Rodriguez Thanks Joel! 

@Mark Nolan Thanks for the input Mark! I definitely plan on reaching out to other members.  

 Whoops *details* not detailers. 

I would love to see less of the "general" content with titles that include 5 steps, 10 tips, etc. and more detailed information about forming LLC's, creating partnerships, financing detailers, as well as detailed deal breakdowns.

@Adam Smith Thanks for putting this together! I will be there. 

@Randy Johnston Thanks! I have been interested in attending local REI groups for sometime, but the dates seem to always conflict with other events. I plan to make the meeting next weeks that @Robert Laird invited me to. 

@Robert Laird Thanks Robert! That is really close to my house (I live in Kenton), I will be there!