Updated almost 13 years ago on . Most recent reply
Buy my brother's house?
Hi, I'm just getting started in real estate investing and attended the local REIA meeting this month. I've done some reading but haven't had any hands on experience yet.
My brother owns the house next door to mine. He is looking to sell and I'm thinking about buying. The house would need some rehabbing. It is currently a single family with an in-law apartment. To make it a legit two family, the lot would need to be larger (a lot line adjustment from my property would work and I'm willing to do it whether I buy or not). Also the electrical service would need to be split for the two units.
I'm wondering what the best acquisition method would be assuming the numbers work out to be a good investment. I know another investor has taken a look, but I'm not sure if they want to pull the trigger.