Updated over 8 years ago on . Most recent reply
Advise on best loan type for this situation
Hello all and thank you in advance for any help. My mother passed away last year and left a lake house to my sister and I. It is paid for and has been listed for sale but so far no offers. I want to buy my sister out and keep it for a rental for now then look at a rehab and flip in 3 or 4 years. It is appraised at 265k and I could buy her out for half. My question is what is the best financing method if I want to pull out enough cash to have down payment on another deal? She will want cash so creative will not work.