The general idea is that you must acquire an interest in real property you do not already own, and since you already own the subject real property you want to build on, the transaction must be structured so that you are creating an interest in real property you do not already own (in fact, it does not yet exist).

We had a record breaking online attendance this week, hope to do the same next month:  Top 10 Title Issues Real Estate Investors have to solve with Accurate Title

Only in this house your mom happens to be the tenant. 

All of this from an investment of next to nothing.Take what you will from this post, if anything.

What made you interested in investing in this type of deal?

Lots of great info on this page! 

In 2014 it cost me about $42k to do this.  

This year, I’m committed to creating balance in my life, letting faith guide my decisions both personally and professionally.In my real estate journey, I combine my tech background with a passion for community-centered development.

(You say it’s worth about $100k more than you’re paying so figure an extra $15k.)Maybe you’d be better off partnering with the parents unless they have zero interest?

On top of this they all must be in interest bearing accounts.