My grandmother just GAVE me her HOUSE!!!
Hello All,
My 66yr old grandmother inherited a house from the man she took care of for 5 years. He passes and left her the home. She can not afford to care for the home so she gave it to me. She currently lives in the home. I want to fix it up a little for her and pay for the taxes, gas, electric, and water. It should total approximately $350 a month. I am thinking of fixing it up enough and doing a refinance on an use the money to invest in other properties. Im trying to 1. Figure out whats best for my grandma. 2. Be able to pay the basic needs for this home. 3. Use the home to build a real estate career. The home is in Rome, Georgia. My aim is to get 3 more investment properties in the same area. Any suggestions on what you guys would do? If you need more information please just as. I got an estimate of 114k on the Internet but im sure that's not right. Maybe its worth 50k in its current condition. Thanks in advance .
Shaniqua Dupree