Updated over 9 years ago on . Most recent reply
Divorce Question - Rental
Hi All!
If one were to be going through a divorce and it was amicable, what would be a smart way to maximizing the amount of money that can be gained from the home that the parties were living in?
1) would renting out the property be an option. 25 yrs left on note. Note is for $142k, with $135k left on the note
2) sell the home and just get out of it
3) owner finance the home to another party?
The end goal is to be able to get the maximum amount from the home. If it is possible, we would leverage it as our first investment property.
Appreciate any and all feedback.
Most Popular Reply
@Frank Tovar, although you want to get the most out of the property, it would probably be best if you sell it and move on to the next one. Even if it is a "friendly divorce" that can change on a dime when things start to go wrong (bad tenant; an unexpected major repair, etc) and then there is explaining to the new wife why you still share an investment with the ex-wife.