Looking for ideas, fellow investors on how I might help a very good friend who is going through a marriage break up.
My friend and her husband will sell their family home, in which they have very little equity. She will then be largely dependent upon maintenance, and welfare as she raises their family and cares for their disabled son. My friend works, too, as she is able to, sometimes for cash.
My friend will be in a position where she is unlikely to be able borrow money from a bank, probably because most of her income is welfare or maintenance rather than wages.
Does anyone have any ideas on how I can help my friend to have a stable family home environment for her children as they grow up? I am keen to find a win win solution to help my friend, while at the same time helping us with our search for another suitable property investment. We have lots of equity, but not enough cash flow to absorb any negative cash flow arrangements.
Cheers
SHi
I had a female friend who was in a slightly similair situation and she found a house that needed someone to house sit in, so she is paying rent but it is a lot lower rate than she might have had to pay and is sort of like a care taker for the property..http://mindahome.com.au/
http://www.housesitworld.com.au/sitmelb.htm
http://melbourneexchange.com.au/classifieds/Housesitting-Melbourne-Find-Housesitter-/5013.html
http://happyhousesitters.com.au/http://www.houseminders.com.au/
http://www.houseminders.com.au/
http://www.aussiehousesitters.com.au/
http://www.housesit.directoryoz.com.au/If they are prepared to move they may be able to get vendor finance
here is some examples of this
http://www.ownyourhome.com.au/Resources/post/Interest-Free-Housing-Loans.aspx
http://www.vendorfinancehomes.com.au/
http://www.realestate.com.au/doc/Resources/Invest/vendor-finance.htm
http://www.yourestate.com.au/properties_9_QLD_1.php
http://www.renttoownhome.com.au/You might find more than this above list by googling Vendor Finance
or
googling Rent to BuyP.S
The subject line you have used has another meaning you may not be aware of !
Do a search in Wikipedia on the subject line if you are unaware of the other meaning.Thanks for your suggestions. I am aware of the alternate meaning and used the line deliberately in the hope of catching attention. Didn't really work – yours is the only response I have had.
Cheers
SThere is not much you can do to help really. You could buy a house and offer it to her to rent at a reduced rate – but you say you don't have much cashflow. You could wrap a property to her, that is you buy it and sell it to her on an installment plan. She pays you off over 25 years with a margin on the interest rate so you make a small profit. Maybe later her financials will improve and she may be able to refinance with a bank and pay you out.
Another variation is rent to buy. You charge her higher rent and in return she gets to buy the place off you for a discount. ie part of the rent goes to reducing the price she will pay.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
…and I thought this one was going to be a 'wife swap' or similar. Glad it has been cleared up.
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