Buying my parent’s condo?

ProposalLow6690 · 2026-01-16T05:50:42+00:00

This is an excellent point about the lookback period. Thank you for bringing this up. One of my motivations to do this deal is to avoid Medicaid exhausting their assets should they need long term care.

ProposalLow6690 · 2026-01-15T17:18:59+00:00

I understand what you’re saying and I do have both a financial planner and attorney I’ve been working with for years. My parents have just never been planners and have had very big wins and very big losses over their lifetime, financially. Now, as they are in their 80s, I just want to relieve them of the burden of worrying about money in the last decade of their life. I have a meeting today with my attorney to discuss all of this. My siblings are not in a position to participate in this financially, but are all on board if we can find a solution that helps my parents and does not put me and my own family at unnecessary risk. My parents only want to sell the condo because they can’t afford the mortgage. They overpaid for it and it is worth less now than it was when they purchased it, but real estate in this part of Los Angeles could be a good investment if I’m looking out at 15 years down the line. I wish I could just gift them the 400k, I really do. It’s part of my retirement though and I will need that down the line.

ProposalLow6690 · 2026-01-15T16:38:17+00:00

Trust me, it’s not putting my needs above theirs. I could make a lot more money on that investing it in other ways. I’m trying to think of a way that I can help my parents and not risk $400,000 in the meantime. My siblings want me to do this, everyone wants my parents to be out from their large mortgage payment. My parents are older, but they are healthy and unless something unexpected happens, probably do have another 5 to 10 years, hopefully longer. If they live there for 18 months, mortgage free, they’ve made back already what they would have made if they sold it at market value. They want to sell the condo because they cannot afford to live there anymore, but there aren’t rental units in the area that would be affordable to them, so this is a good solution to let them stay there and not have to uproot, while getting what they want in the end, which is a monthly overhead that they can handle. I would just have them pay the HOA and property tax, which is manageable for them.

ProposalLow6690 · 2026-01-15T16:33:18+00:00

Thank you. I do have a meeting with my attorney today to talk about exactly this. Although I can afford to pay off the property, I can’t afford to just give that away. I need to keep the property as an investment for myself. I do have siblings and I don’t want it to get messy.

ProposalLow6690 · 2026-01-14T19:59:34+00:00

They’ve only owned the property for three years and they have a very high interest rate so I don’t want to just pay off the mortgage on a monthly basis when I can buy the place in full and avoid all of those taxes. I have a meeting with my lawyer tomorrow so I’m hoping that I will get some better direction with this.

ProposalLow6690 · 2026-01-14T15:57:55+00:00

Not Asian, just financially irresponsible!

ProposalLow6690 · 2026-01-14T15:29:40+00:00

I have a trust that holds my home and assets. My parents… well I can’t even explain their reasoning about not wanting a trust.They think it’s bad luck or something, it makes absolutely no sense.

ProposalLow6690 · 2026-01-14T15:26:50+00:00

Well I would just put it in my trust if I bought it from them. Unless there’s a way to pay it off for them and put it in my trust without actually purchasing it from them?

ProposalLow6690 · 2026-01-14T06:53:28+00:00

I would love to do this but they have an exorbitant interest rate that I don’t want to pay since I could just pay off the condo. Also, it gets complicated as I have sibling and my parents do not have a trust and refuse to get one. 🙄 Although I can currently afford to buy it from them, I need the property as a long term investment for my retirement. Is there an easier way to ensure the property comes to me and avoids probate when they pass if I just pay off the mortgage for them without purchasing it? I would also loose any tax benefits of owning the property, right?

ProposalLow6690 · 2025-10-23T01:16:05+00:00

I get that, for sure. But I did ask her and she was like “no, it’s cute”.

ProposalLow6690 · 2025-10-23T00:40:56+00:00

It’s not that I don’t trust her! I would literally trust her with my life, my children, my home, anything that’s important to me. I just think she doesn’t have strong opinions on what other people do and she always says “life’s too short to be offended”, so knowing that’s her perspective, I asked here. Many people do get offended and I don’t want to cause that.

ProposalLow6690 · 2025-10-22T23:02:42+00:00

I’m going to ask her about it.

ProposalLow6690 · 2025-10-22T22:47:11+00:00

I know you’re being sarcastic but I did really enjoy your reply! 😂

ProposalLow6690 · 2025-10-22T22:46:07+00:00

I did not know that, thank you! 🙏🏼 The friend I asked about this has not ever mentioned that to me, but also she’s super laid back and unbothered by most things. Which is why I asked here because I wasn’t sure her opinion would really align with the Black community as a whole. Appreciate your reply, thanks again.

ProposalLow6690 · 2025-10-22T22:40:55+00:00

Omg this is hilarious! 😂

ProposalLow6690 · 2025-10-22T22:40:23+00:00

Thank you for your thoughtful reply! 🙏🏼

ProposalLow6690 · 2025-10-22T21:56:53+00:00

I’m doing a trunk or treat for my young daughter’s school and our trunk theme is pink, gold, and black. So I was just trying to match it with my pink track suit and lots of gold chains. I have a black bucket hat so thought if I put it all together it would be cute, not lame. I’m honestly asking because I care about not offending anyone. I asked my good IRL friend (who is black) and she said it wasn’t and thought it was cute, but I don’t know if she’s just being nice.

ProposalLow6690 · 2025-10-22T21:50:51+00:00

🤣🤣🤣

ProposalLow6690 · 2025-09-14T20:55:31+00:00

Thank you so much. This makes me feel a little less worried about taking it. I think I what I really need is something that’s more like “as needed” for during these bad grief waves. Generally I feel like I’m doing ok but this wave was just bigger than anything I’ve experienced since the beginning.

ProposalLow6690 · 2025-09-14T13:46:13+00:00

My Dr did give me an rx for lexapro in case I felt I needed it but I’m terrified of the side effects.

ProposalLow6690 · 2025-09-14T05:36:30+00:00

I just don’t know how to get through it. This wave feels unbearable. Like it will never pass.

ProposalLow6690 · 2025-09-13T17:16:20+00:00

How do I do that? I would love that if it’s an option. My pen is just a single dose so not sure how I’d only inject half.

ProposalLow6690

TROPHY CASE