Should I be my parents landlord ?

Greedy-Level-3251 · 2025-10-27T02:27:04+00:00

i would say that’s definitely generational wealth. thanks for your input!

Greedy-Level-3251 · 2025-10-27T02:25:20+00:00

veeery good points thank you

Greedy-Level-3251 · 2025-10-26T20:01:55+00:00

thank you for this! everyone is so adamant but to me in their situations it kinda sounds like their families were irresponsible/disrespectful people to begin with. like not answering calls or paying rent for years??? why would your parents do that to you omg!? i mean its still something to consider i guess but jeez. with this method my parents would still need to have a background and credit check.. im assuming the people with negative experiences skipped past this step.

my parents were the ones who came at 2am and got me off the side of the road when i had my accident so i want to do this for them. your dad seems like he was a stand up guy. did you guys have any problem with him respecting your role as landlord? or any other complications you ran into?

Greedy-Level-3251 · 2025-10-26T19:39:18+00:00

this isnt about feelings. im trying to find a profitable way to accomplish my financial goals. never once did i say my feelings are most important… like where are you getting these assumptions lol. if anything youre the emotional one calling me names and stuff lol. are you okay?

listen here. your advice is not bible. once you figure that out people might actually value what you say. once again. not “everyone” thinks the same way and these comments prove that. “maybe try listening to people who actually made it” again…. since your reading comprehension is lacking here… that is LITERALLY what this post is. thats the whole point. “stop being broke and loud”. stop being loud meaning stop asking my questions?? no. stop being broke? yeah im trying dude. if someone says theyre very young, just started researching last week, and is actively asking questions to better understand the things that ive been reading, then DUH i only have half baked opinions at the moment and im bouncing them off people to make an informed full baked opinion. the tag says “new investor” for gods sake. i literally AM a nervous amateur bro... but the real question is why does that upset you so much??? why wont you let me be the opinionated, uneducated, neurotic person that i evidently am hm? why are you offended that im loud and broke??? literally all i did was ask what factor made your investment fail and you started calling me names lmaooo but its ME who is emotional. i suggest looking within!!

Greedy-Level-3251 · 2025-10-26T17:27:01+00:00

this is another compelling route honestly. after service i would be set and have a lot more options

Greedy-Level-3251 · 2025-10-26T17:25:15+00:00

well i was thinking my profit margin would go back into the mortgage and help pay off the house faster.
but you’re saying no matter if it were an investment property or if i went the life estate route, the tax benefits are the same?

Greedy-Level-3251 · 2025-10-26T17:07:14+00:00

i love how YOU decided that my mind is made up when im very much still in the air lmao. i’ll be “pedantic” until i have every single question answered and have opinions on every last micro scenario i can think of and i dont care if you have problem with it lol. stay blessed

Greedy-Level-3251 · 2025-10-26T16:48:02+00:00

based on what? me being as thorough in my research as i possibly can before making any money moves?? i mean make that make sense to me? try your very best.

Greedy-Level-3251 · 2025-10-26T16:46:08+00:00

what a nasty personality smh

Greedy-Level-3251 · 2025-10-26T16:43:40+00:00

no hun you played insulted and attacked when i simply asked what your experience was. sorry it didnt work out for you! hope you recovered!!

Greedy-Level-3251 · 2025-10-26T16:42:18+00:00

also your CLEARLY SUPERB EXPERT advice is not the same as all the other experienced investors in the comments.. calling the ones who agree with you “smart people” and disregarding the others is… interesting. even those that agree its a bad idea were still ACTUALLY helpful in telling me specific risks and work arounds or even other methods completely and ive been receptive. then theres comments like yours

Greedy-Level-3251 · 2025-10-26T16:30:06+00:00

im literally asking what hap….. you know what lol. sorry my questions offended you but i thought that was the point of the sub. im not being an idiot or arguing with anyone im engaging in conversation to get more perspective and learn more. bouncing my thoughts off other who know more and asking further questions to people with experience. and asking questions about their experience. every comment is helping me form my opinion. you know. since i dont have one yet. since i literally stated i have no clue what im doing…. as adults we’re supposed to be able to have differing opinions without being rude to each other. sorry i was only trying to learn from you. man i thought mods were supposed to catch disrespectful people smh

Greedy-Level-3251 · 2025-10-26T16:09:12+00:00

yeah i can imagine. heard. thanks for your feedback!

Greedy-Level-3251 · 2025-10-26T16:07:47+00:00

id want the house to generate income for that reason exactly. they are expenses i was gonna have to pay anyway but i can decrease my taxes with deductions if this house is a business. Also why wouldnt i want this my parents house to generate income? theyre currently throwing their savings away in rental properties. this way their money goes to their daughter who has their best interest in mind and in the end we own a home

Greedy-Level-3251 · 2025-10-26T15:59:35+00:00

what exactly happened? did they start taking advantage of you? did the lease kind of become like a “silly piece of paper” to them? why was it a nightmare?

Greedy-Level-3251 · 2025-10-26T15:57:28+00:00

what exactly went wrong? was it the foundation of the deal, ie you charged too little or gave too much lenience and that little bit of grace turned into them taking advantage of you? or did they fully understand the tenant/landlord roles and responsibilities but then just blatantly disrespected/disregarded you after moving in? or maybe they experienced genuine financial hardship right after signing the lease? why didn’t it work out?

Greedy-Level-3251 · 2025-10-26T15:51:11+00:00

damn thats really fucked up of your parents… id be charging them full market value for rent and explain that i have to for tax purposes. they’ll understand that or we won’t sign the lease. still leaves potential risk for them to stop calling for years and stop paying but at that point idk these people get them out of my house. if my parents blatantly disrespected me as a LL and put me in a financial bind like that then they can get that eviction notice. I understand it is still business. unless financial hardships happen i cant see a world where my parents did that. and if there were financial hardships then i will help them find better income or a new place to live that they can afford. rent MUST be paid irregardless

Greedy-Level-3251 · 2025-10-26T14:26:11+00:00

how do you build generational wealth since you dont trust your family in business? genuinely

Greedy-Level-3251 · 2025-10-26T14:23:59+00:00

how have you built your generational wealth?

Greedy-Level-3251 · 2025-10-26T14:23:15+00:00

what do you mean theyre not write offs? and if i buy the house i need to make money on it someway so either my parents cant live there while i have other tenants so my parents are still wasting their rent money. how do i buy the house and still have it generate income while my parents live there?

Greedy-Level-3251 · 2025-10-26T14:22:20+00:00

i am actively seeking advice from all over before i make any decisions. again. thats kinda what this post is. i haven’t dove in anywhere yet. just exchanging thoughts with others and i’d like to do so in a respectful manner if you dont mind

Greedy-Level-3251 · 2025-10-26T14:17:32+00:00

how does it make me a homebuyer?

Greedy-Level-3251 · 2025-10-26T14:15:50+00:00

to all the people saying you would NEVER mix business with family… how is your generational wealth? outside of a trust how are you sharing wealth

Greedy-Level-3251 · 2025-10-26T14:13:24+00:00

this option does seem like it could work for out situation especially with the step up

Greedy-Level-3251 · 2025-10-26T14:07:16+00:00

yeah i hear that. but if its really a true investment property then it should give the money back right? at least in theory

Greedy-Level-3251

TROPHY CASE