OfflineA nurse I used to work with, lost her job in 2006. Because of major health problems, she was let go of a couple more jobs since. Now she is finally approved for disability. She has exhausted all of her retirement over the years because of her health.
She is now 3 yrs behind on taxes on her home, which is paid for. There is also a $20k lien on the property.
It needs repairs, and could use around $15-20k for fixing. It is a duplex. In Milwaukee. She lived upstairs, her parents lived downstairs till they passed away. She moved downstairs and her things are still upstairs. She cannot lease it out with all the repairs needed, and she can't climb stairs now to go through her things. She is in her 60's and wants to live there as long as possible. She does take care of herself, and her pets, but walks with a cane and has several health issues.
If I paid the taxes and the lien, and left her stay there, how would this work out for me.
If anything would happen to her, the home is not willed to anyone or in any trust.
What could I do, that would make it a win for both of us.
Thanks
Sandi
you have to find out the real market value on the home. You have to find out what the 20K lien is for and when it was filed. You have to have access to some funds for repairs or someone who can fill that void. Send me an email with the info and I'll guide you through the initial processes. Hopefully this can be a win-win for you and the nurse.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
I do know about the lien as we are good friends and she is always upfront with me.
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Can't remember what the FMV is, but I know it is at least $90 or more. As for money to help her fix it up, I know she can even give me something each month, not much but can help a bit financially.
I will send you an email later today with everything. Have to leave the house today by 7am so need to get off the computer. Have another farm with 12 acres I am looking at today. They had wanted me to lease it, and I do love the farm, and it has Clydesdales surrounding their property. NICE...can be around draft horses again, and not have to do any of the work
But they also want to sell and would do a lease option or land contract for only two years. Then they want their money to move to Florida to retire.
But it is a nice place, set up for horses. Already have a family interested in it. So have to get it under some contract and get the pictures out on it.
Anyhow, I will send an email later, thanks
Sandi