Buying and selling my moms home.
Hello forum I know very little about real estate but i do know a good deal when i see one...lol so my mother owns a house in CT which she is willing to sell me for 80 grand The house as is is worth 197 but with a little remodeling Im sure its worth more now i reside in GA i dont have the capital rite now to purchase, im working on my credit to possible get a loan can any one give me advise i really want to make this happen so i can jump start my buying and selling career thanks in advance..
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#2 General Landlording & Rental Properties Contributor
I can't see why she would not do it since it amounts to giving you exactly the same 100K. If you buy for 80K you are putting zero effort into making the 100K anyway.
What she should really do is sell it then loan you the money to invest. You could be 50/50 partners on multiple properties and both benefit.
Unless she does not know what the place is worth and you do not want her to know.