Trying to Help Your Mom...and siblings - Posted by Gordy Scott

Posted by Gordy Scott on March 27, 2000 at 19:25:53:

My Mom’s older well kept 4-bedroom house with a fullsize basement and garage only sits around 200 miles from the area she hopes to relocate to. This will allow her to be much closer to me and my sister. The problem is that this particular area is economically depressed for a few years. Although the house has been listed for almost a year…my Dad’s serious illness and passing perhaps delayed any serious inquiries, but now it’s time to get the ball rolling on helping her sell the house. What I’m looking for are creative suggestions that would help facilitate her selling her home and moving closer to my sister and I. This city is in western Washington and has excellent fishing and hunting in the area.

Trying to Help Your Mom…and siblings - Posted by Gordy Scott

Posted by Gordy Scott on March 22, 2000 at 20:19:54:

I’ve just purchased the No Payment Down reastate plan, and I’m trying to a way to protect both my own and my sister’s interests. The situation is trying to help my Mom sell her home (older 4-bedroom) that’s in an area that’s has a depressed economy. She wants to sell and move closer to our area.

Ouestion is…Should my first deal involve my own inheritance…and if so should a partnership be formed between my sister and me to actually attempt to buy Mom’s house ( our main inheritance ) using the No Payment Down style for a small corporation…or what. What do you think?

Re: Trying to Help Your Mom…and siblings - Posted by Rob FL

Posted by Rob FL on March 23, 2000 at 14:46:04:

I don’t know where you are located, but Sheets makes a good point in his course. Investing long distance is usually a mistake. Though your mom may be willing to allow creative purchasing, it would probably be wiser to invest near where you live. Properties are much easier to manage, rehab, sell, etc. when they aren’t so far away.