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Are there any CREW members out there that have experience structuring life/remainder estate deals in New Jersey? I am currently working a possible deal with an elderly widow with no children and out-of-state family.She lives by herself and can’t keep up with maintenance and general upkeep.She even wrote me a letter a few months back when a storm knocked her power explaining how she sat alone in her house without lights.
I was planning on buying a remainder interest and giving her a mortgage as consideration. I want to try to help her by arranging some sort of home help service for the elderly,but I am new to this and need to to figure out economic feasability.
Thanks, Winston
p.s. are there any buy and hold NJ investors out there that would be interested in a JV on these type of deals ?
Winston,
Sounds like a good plan for this property and a great way to help this lady. I don’t know enough about life estates to help you. I’ll find someone who can help
Jackie
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