All Forum Posts by: Tania Reuben
Tania Reuben has started 7 posts and replied 52 times.
Post: In a really tough spot - uncertain what to do - advice needed
- Realtor
- Southern California
- Posts 53
- Votes 8
Wondering if you own a home you can pull that much equity out of... ?
Post: Inherited Property: Offering Options To Heir
- Realtor
- Southern California
- Posts 53
- Votes 8
This involves family, so it's trickier for me. I have a small family and only want to help them, I don't need to profit from them, that said, finite resources and I need to be smart.
My BIL's son has been dating a young lady. Her mother just passed away.
Mother has left the property (worth close to a million, but is in poor condition) to her two children. The daughter (who is dating BIL's Son) would love to keep the property, but won't have cash to buy him out, and I'm certain she won't qualify to finance the property to buy her brother out, and he's not going to want to sit and wait for his money.
It's been a few years since I've taken on an investment RE project, but am just at the beginning of getting back in... was thinking I could back them with cash for and take an interest in the rehab, my BIL could do the rehab for the labor... and we could all partner, but worried adding my BIL to the equation could complicate further - it's not close enough geographically for me to manage....
That said, based on the description, someone is going to end up putting together a deal on this property (Northern Cali).
Would love to hear what others would do...?