Borrowing money from relatives
Hello everyone!
I am looking to buy my second property, I purchased the first using a bank loan. Now my parents are wanting to buy the next one in cash, due to high interest rates. How best do I go about doing this? Are both my wife, mom and i all on the deed or should it just be my mom and I.
Another caveat is that the money is going to be a gift my grandpa, who wants to see the families money being put to use, but does not have the will or health to be involved. So we are planning on making the money a gift to my mom and then a loan to me.
Essentially, I am in need of a walk through. Thank you all in advance for your responses I truly appreciate it.