$ for building and buying a property
My Dad has a 2 acre property that he wants me to buy from him for $25,000 so he can complete the current construction and put up a small shop. Then he wants to live their for the rest of his days; pay the payments and the property would be out of his name. He tried to get a loan through his bank, but wasn't approved.
I don't have that cash, but I do have it in credit cards, although that isn't logical. What would be suggested? I have a house with some equity, but we need to upsize soon. Also if I were to get a property loan for his, it seems it would be tough to get another loan to upsize for us? We are both in Missouri.
Thanks