What to do with about $200,000 in equity

What to do with about $200,000 in equity

Rental Property Investor · Nashville, TN · Member since 2015 · 43 posts · 4 votes

So, I'm going to paint a scenario, and I want to see what the world of bigger pockets has to offer.

So lets say Bob has a property worth $270,000 in which he has $70,000 in equity. His elderly aunt has another property she is giving him worth $120,000 that is paid off, but she wants to continue living in the property until she dies, she also owns a property worth $45,000 in which about $18,000 is owed, but Bob believes because of the condition of his elderly aunt's shaky finances, he believes he can do a shortsale with the bank for $10,000. Let's also say Bob has about $15,000 in cash in the bank, and is cashing flowing about $400 on the property worth $270,000 that has just been purchased. Bob is looking at jumping deep into the world of real estate investing. What is the best possible option for Bob, what's the most he could do with his cash and equity? @Brandon Turner @Joshua D. Also, how could he tap into the equity of the property his aunt is giving him, while mediating the risk of losing his aunt's residence?

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    too tired this Is like an Algebra question  LOL...

  • Rental Property Investor · Nashville, TN · Member since 2015 · 43 posts · 4 votes
    10y

    Maybe for later Jay, :), but I'd love to hear your response if you have any ideas.

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