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Updated over 3 years ago on . Most recent reply

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Emanuel Orozco
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Best way to buy my dads duplex with little or no $ down

Emanuel Orozco
Posted

Hi am new to bigger pockets but have been reading a bit into real estate I’ll get to the point lol……I want to buy my dads duplex that we currently live in but needs major TLC but he has too much in his hands managing his other triplex what’s the best solution for myself to purchase this off him I enough for a down payment here in Oakland California , I was thinking of a 203k loan? Or is there ways where I can use someone’s else $$$$ for me to take ownership an someone else also profit ? My dad me and an investor to be happy? Any ideas ? House is paid off needs new roof paint house has 4 rooms 2 bathrooms 2 kitchens front and backyard . Any ideas 

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Brian Garlington
  • Realtor
  • Oakland, CA and a Real Estate Investor with Multi-Family Units and a Self Storage Facility
2,391
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Brian Garlington
  • Realtor
  • Oakland, CA and a Real Estate Investor with Multi-Family Units and a Self Storage Facility
Replied

As another poster alluded to..............Seller Financing.   The thing to remember is sometimes doing business with family in a direct way like this can be...................................................awkward.

FHA203K loan may actually be a very viable option since, for the purposes of the loan you are not dealing directly with the "seller". Reach out to @Chris Mason     He is right here in the Bay Area and can get you fixed up.

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