New House Query

[Anonymous]

I feel like this story is starting to unravel.

Op - are you by chance they "sister"?

[Anonymous]

I can understand why your sister wanted to help her friend out, but there was a way to do it without being or appearing selfish. Your sister sounds like she devised a self serving plan, to buy a 2nd house then immediately have her friend pay the mortgage on it. She was likely hoping her friend would live in the house long enough to get her entire mortgage back and then when all was said and done she would have ended up with a second home out of it while her friend would have nothing to show for it in the end.

I think your sister was trying to get a free house out of her plan.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If it was a successful daycare, your sister should sale it as a business with real estate
Talk to business broker about it.

A home daycare with zero staff is not a business that is sellable; it’s not worth anything more than the value of a room of used kids furniture.

Zero staff and no enrolled children. That is not an ongoing business generating income

OP started by saying successful daycare and now it’s with zero staff.

[Anonymous]

Anonymous wrote:I don't believe this story.

I do. As a real estate agent it is usually a parent or relative who buys the property and are similarly used and abused.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I don't believe this story.

I do. As a real estate agent it is usually a parent or relative who buys the property and are similarly used and abused.

+1

I am not a real estate agent but something similar to this situation occurred in my immediate family too.

[Anonymous]

Never ever ever never mix real estate with friends or relatives. You will lose the real estate or the relationship with the friend/relative.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I don't believe this story.

I do. As a real estate agent it is usually a parent or relative who buys the property and are similarly used and abused.

I do as well.
Lots of people buy homes then rent them out to relatives or close friends.
Not wise.