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All Forum Posts by: Trevor Knorpp

Trevor Knorpp has started 2 posts and replied 19 times.

Quote from @Nathan Gesner:
Quote from @Trevor Knorpp:

Thank you for your response however I am looking for answers mainly confirming my suspicion that the numbers don't add up.

All you've told us is that it will take a couple thousand to make the house presentable. We need to know setup costs, operating costs, potential income based on your market, etc. This isn't enough information to even make a wild guess.

If your aunt is retiring with $90 million, why would she give a hoot about our mom's place? And why would she care if it makes money or not? She's already so wealthy that earning another $30,000 a year with a rental shouldn't even turn her head.

If the house is paid off in your mom's name, your aunt has no authority to do anything with it. You can stay there as long as your mom says it's OK. If your mom went away for six years, she can choose to let you live there or she can let it sit empty and fall apart.
Thank you Nathan
Quote from @Bruce Woodruff:
Quote from @Jon Martin:

If you need to use some of that cash to help your Mom then you should do it, as a student you can always use student loans to fill the gap if needed. 

Unless....the Mom is an addict/drunk with multiple infractions. Then she needs to get help and not on his dime....

yea this is definitely not the first incident
Quote from @Mike Dymski:

If your aunt has 90 million, why does she care about your mom's house?

This is exactly what I am saying. For some reason, I believe that they were under the impression that "this house could AirBNB for 2000 a week!" which is completely wrong because they comps in the area only go for around 100 a night for houses with 3-6 bedrooms. It might be a misconception because during derby week here in Louisville, I can see the prices inflating.

@Theresa Harris House is paid off. If my mom wants me to move out, I will move out, but the communication is very weird right now.

Thank you for your response however I am looking for answers mainly confirming my suspicion that the numbers don't add up.

My mom got a DUI 2 weeks ago. To put it short, she could have to pay over 200,000$ in bills including rehab.

Originally the story was that she was going to be in rehab for 6 months.

Apparently, she will now only be held there for 34 days with the possibility of some more time in a halfway house.

I am a 19 year old computer engineering student with about 8k saved (most going to fall tuition).

My aunt (who by the way is attempting to retire with 90 million dollars) is telling me that I am going to have to take out loans and find an apartment before June 1st.

This house is run down and would need a lot of work to be presentable. 1 bedroom 2 bath, cheapest house in wealthy neighborhood with excellent location.

She has no idea how to setup an AirBNB and has very little real estate experience. No contractor connections, no cleaning connection, surface level knowledge.


On top of all of that, I don't even know if they have run this idea by my mother at all yet.

We have had very minimal contact with my mother because of the rehab's rules for the first week there.

I know these undeclared variables make it difficult, but I have a few questions.

Under the situation that my mom gives them permission to attempt this, the numbers don't add up if I am seeing them correctly.
At least a couple thousand into making this house presentable. MAXIMUM 4 months of availability, (could be only 34 days from today). Is anyone else decoding this situation as I am?

Under the situation that she doesn't give them permission, they can't do anything correct? (dumb question for my nerves)

Do I have any living rights to where they can't kick me out?

Is there anything I can legally do to delay this as much as I can? Ex: Make the whole house smell, legal things, anything at all.

My aunt is being very predatory and disrespectful, and the reason I am so against this is because housing costs will stop me from being able to save enough money to get my first house hack.

The lease clearly says Landlord is not liable for flood damages on Tenants property. I am not a lawyer, but I think you're good.

It seems like lower down payments get less fees as well

@Yash Warke I'm not an expert, but buying under 400k$ would avoid this. I hope that this will only apply to FHA loans. Maybe avoiding FHA loans will let you dodge it? I am not sure though.

@Michael Baum I'm so sick of these attempts at communist advances