My uncle, no kids, no wife. My sister, me and 2 cousins are his concerns. I'm the only one with interest. He's the kindest, smartest, frugal man I've ever met, and without a doubt he's wealthy on paper even though he lives like a hobo. It's always been his thing. I used to love learning everything from him.
Over Thanksgiving and then Christmas my mom brings up his age and health and just kind of getting a feel for his end of life prep. She brings up his properties need to leave his personal name and be put in a trust before a nursing home can take his assets.
He all but said his forrest land (50+acres), and the 4 plex are mine if i want to take on the burden because i help maintain when i can.
I suggested we start an llc , and transfer the titles to it then just let me run it as a property manager and collect rent to it. As far as i can tell everything is paid off, he's the type to never have debt. Does that seem like a good option? He has 2 other houses, his duplex, and a mobile home on some land.
My mom is meeting with him soon to make sure he has his ducks in a row, and to help if any ducks aren't in line. So I'd like to have a game plan for the 4plex hashed out by then.
Submitted January 09, 2022 at 08:47PM by jamesonSINEMETU https://ift.tt/3JSMjy1
