Investor · La habra heights, CA · Member since 2014 · 32 posts · 0 votes
Hello BP I have a question a family member is willing to pass on a duplex in Los Angeles worth $450,000 he has $200,000 in equity which he wants to extract and I just keep making the monthly payments of $1300 and pay off the rest. Now how can we go about doing this he is retired and still has a mortgage and I have absolutely no credit will this effect him extracting his equity. And should I do a sub2 or owner finance ? What exactly would you guys do??? Thanks
Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
10y
Middle equity is a tough place to be maybe have them refi for cash out then you do a master lease option maybe put a period or question mark in your paragraphs every now and then so we can follow what you are saying