All Forum Posts by: Wayne Renbjor

Quote from @Matt Ziegler:

Wayne, why not help them find a multi family property? They could live in one unit and use the income from the other unit(s). Have you looked into a reverse mortgage? At their age this may be an option…,

Would that be something like a small 4-8 unit apartment complex or something different? Like I said I don’t really know the full spectrum of their options 

my Dad is 73 and My Mom is 61. He has been unemployed since the pandemic started. They have less than 5k in total assets. They live on his retirement and unemployment.

they are in South Jersey very close to the Philadelphia area.


Quote from @Terri Wyzkoski:

A couple of questions:

1.  How old are they? 2. In what city and state do they live? 3. How much have they saved to live on?

These will help me answer your questions.

My Mom inherited a property in South America. She is going to sell it in May 2022 and all said and done will end up with about 200k in her US bank. My parents have rented for over 20 years and never bought a home. They are getting advanced in age and just wanted to understand their options. As you would expect, everyone in the family has their onions but none of them have any real estate investment experience. My parents tasked me with finding out what they could do. My Dad is retired now and has no working income. 

I don't think they can get a mortgage but what I know about so far is that they can:

1: Buy a home outright (or land and build) until they pass and I would inherit it.

2: continue to rent

3: I had though that there would be a way they could get 2 or 3 or more properties in one shot and turn them into cash flow

3 (if possible) would be best because they would have steady income to pay for their cost of living and in the end I would end up with a jump start to be able to leave a legacy to my own kids. The reality is though that none of us have any real clue what action to take.

I would love to hear some advice or be pointed in the right direction to read and learn about what to do on my own. Thanks in advance!

Hey everyone, I have listened to many episodes of the show and I have been a reader for a while but it's time to stop being a lurker and start participating in the community. I have some construction background (general handyman stuff) not licensed or anything just helping friends out or side jobs here and there. Other than that I have no real estate experience. I do however have great tech / programming / marketing / and BBQ skills! Being in the tech and podcast space I hear all the time that multiple streams of income are a must. I would like to try everything to see what I like best. I think that "burr" is where I would like to be with cash flow coming in. But I want to try wholesaling, flipping, etc I would love to trade some pulled pork for some guidance on getting a few deals under my belt!