All Forum Posts by: Craig Moore
Craig Moore has started 1 posts and replied 4 times.
@Mary M. To use lower down payment as her primary residence. Then would leave it in her name until I sell at whatever point in the future. Or that's the thinking. Looking for angles that would cause issues that I'm not thinking about.
Even though I haven't seen this specific situation mentioned, I got the idea after listening to a Rookie podcast last night where the guest talked about getting in on properties pre foreclosure and they stayed on the mortgage but turned the property over to her. I forget the specific name for the process she used.
@Theresa Harris lower down payment being her primary residence.
I'm just getting started on my REI journey. Like most, I've read several books and listened to hours of videos and podcasts. I don't think I've seen this exact situation discussed. My sister lives in Michigan but plans on moving back to Alabama in about 3 years She's currently renting and really isn't in a position to buy. I've talked to her about her buying a house with me supplying funds for down payment, closing etc. She'll make the payments until she moves and then I'll keep it as a rental. When that happens, can I keep the mortgage in her name to keep from having to go through the selling/ buying process and the costs involved? And if so, what's the best way to handle that? Want to make sure the end game will work out before we follow through with it. Thanks.