First attempt to own a property
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?