Updated almost 6 years ago on . Most recent reply
Helping Parents House Hack
I've been diving into the world of real estate investing and something that intrigues me at the moment is multifamily investing. I'm also currently exploring buying my parents a house as they get older and inch towards retirement. I believe they would be really suited to a multifamily as it will allow my father to manage the other unit (he loves managing things & it wouldn't be healthy for him to sit around idle).
I would want the house in my parents' name so they can "house hack" with the low down payment (which I will pay). Has anyone ever done this? What are some tips you can share? My parents don't have the greatest credit scores so I'm not sure how easy the approval process will look.
Most Popular Reply
@Jas Gill
Depending on your credit (and theirs) with the down payment you can put all three of you on both house & loan. Then if you really want to after x amount of time take your name off the house (probably not on the loan).
Just a suggestion 😉 good luck!