Dad Rehabing Prop. And Selling It To Son For Long Term Hold?
My Dad is retiring and looking to make some money by rehabing houses. I on the other hand am more interested in rental property. We are trying to find a way where we can work together and help each other out.
What we had in mind is for him to purchase run down properties, fix them up and then sell them to me at a disounted rate. This will cut out all of the RE agent commission of him having to sell the property.
The question I have is what is the best possible way to finance these two transactions. 1) him buying the run down property and 2) Me buying it from him with little money out of my pocket?
Comments(0)