by Ricardo Ceja 5 years ago
165
More like this
Its not a guaranteed permanent fix to her current situation
Will accumilate Even MoreDebt
Can stay in house
Will BUY some time
Won't have to sell house
Will be more stressed
Wont be facing the reality of my current situation and wouldn't fix my siuation
Not being able to afford the mortgage and can potentially Lose house to Foreclosure
Probably wouldn't have pay mortgage and could save for a few months...
Will have a place of her own..
Situation won't change for a while. Until House is ready to rent..., finds tenants....
Will have to come up with/have money for unexpected things (No tenant, Repairs, plumbing....)
Will have to deal with tenants Problems
Will have spend money on fixing house up in order to rent for more
property can potentially Increase in value
Will gain experience of having a rental property
Will have additional income
Tenants can pay down her mortgage
Can still keep her house
Ricky will pay me back my Equity or Find me a nice house
Will help Ricky achieve his goal of keeping Kensington
Won't have a mortgage until she gets a house
Will have a NICE place to live in with Ricky
Won't lose her Equity
Will Freeze her current High Prices
In order to sell for as much as possible would have to spend some money or could sell it as is for less
Having to let go of her current asset For (Temporarily)
Wont have a place of her Own (Temporarily)
Less stress of having to quickly figure out what to do and will have more time to come up with a gameplan
Positive: Can get her equity
Wont have the Debt/Payment anymore
Will be able to get rid of some clutter
Will be able to take advantage of the current High Market prices (More Equity
Could save more money
Less pressure of having to maintain expenses and potentially pilling up debt
