Duplex Or?
Ok, here is the deal.....
I have to move from where I am (long story, has to do with g/f moving out, cant afford the place on my own), my credit is in the tank, and Im not loaded with cash.
With that being said, my mother is looking for an investment property that she doesnt have to do much with. That was why I was looking at the duplex on the earlier post....but I cant seem to make it work.
Here is the scenario....
Mom has 750 credit, and 50-100k available on her current house.
I want to find something here in the Portland area that she can purchase, that I can maintain for her, and gives me a place to live.
Do some of you experienced folks out there have some nuggets of wisdom for me???
Oh yeah....gave 30 days yesterday....Im sure I could push that out a week or two....but thats me paying all the rent, so dont want to push it to far.
Thanks
Tim
Thanks for the replies guys/gals....
I share some of the same concerns....but I still have two issues that I would like to get resloved.
My mother wants to get involved in the REI world, and I want to help. In exchange, she wants to help me get back on my feet after a very bitter, nasty, drawn out child custody battle that set me back years. Sure she could just plunk down a bunch of money, but that doesnt help her achieve her goals, and really I would be in a position of needing to pay that back, which doesnt really help in the end.
I have to believe that given the situation, there must be some approach we can use to satisfy all of these requirements. I see people in not near as good a position as my mother is, getting help on here. We are just trying to mutually benefit each other.
Please continue with any ideas or feedback, negative or positive.
Thanks again,
Tim
PS How about an apartment complex? Any other ideas? This is the think tank....throw out them ideas
wondering why the post about neg am. who said anything about a neg am loan?
http://www.thecreativeinvestor.com/residential/ViewTopic56672-33-2.html
Quote:
On 2006-09-05 20:00, loandudefromsac wrote:
wondering why the post about neg am. who said anything about a neg am loan?
[addsig]