Property inheritance Advice
Hi,
I'm looking to connect with experienced Buffalo, NY investors who would be willing to give me some perspective on a family real estate situation involving two properties.
Both properties are currently part of a family trust situation, and I'm trying to determine the best long-term strategy rather than simply selling assets without looking at the bigger picture.
An important part of the situation is my mother. One of our goals/requirements is to get her into another 3-bedroom ranch-style home in the Buffalo area that better fits what she wants going forward.
I'm trying to determine how experienced investors would approach the properties and the available equity:
Keep and rehab one or both properties?
Sell one property to help fund the ranch and retain the other?
Rehab and refinance to access equity?
Convert one or both into cash-flowing rentals?
Use a combination of the properties/equity to acquire the ranch while preserving as much of the family's real estate as possible?
Is there a creative-finance or partnership structure I'm overlooking?
My larger goal isn't just completing these two transactions. I'm trying to use the real estate we already have as the foundation for building a long-term family real estate portfolio rather than unnecessarily liquidating assets.
I'd especially like to connect with investors who have experience with Buffalo properties, inherited/trust-held real estate, BRRRR/value-add projects, private financing, or creative financing.
I'm happy to provide the property details, estimated values, rehab information, photos, and numbers privately to anyone willing to look at the situation.
I'm primarily looking for advice and experienced eyes on the strategy, but I'm also open to building relationships with investors, lenders, contractors, or potential partners if there's a structure that makes sense.
If these were your family's properties, what would you analyze first before deciding what to keep, sell, refinance, or leverage?