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Updated over 4 years ago on . Most recent reply

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Sory Kaba
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10
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First attempt to own a property

Sory Kaba
Posted

I have a question. My grandmother bought our home about 15 years ago and due to financing and poor rehabbing work still owes quite a lot on the home and wants to sell the home and use the proceeds for me to buy a new home. I was wondering if it would be possible to use a business of a holding company to buy the home from her then use the proceeds to buy a duplex or triplex in my personal name. As a result, we would own two homes and rent out the old home. 

Do you guys think this is a viable idea? Do you guys have any suggestions that could help us? 

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