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Ask Dave

Selling To Family

Dale doesn't like the plan that his family wants to follow regarding housing.

QUESTION: Dale is about to list a home, but offered to sell it to family first. His sister wants to buy the house using debt, fix it and flip it and rent it out. It makes Dale really uncomfortable, and he doesn’t think it’s wise. Dave agrees, for this reason.

ANSWER: It’s going to crash them. You can sell it to them, but as a relative, you owe it to them to tell them what you just told me. Tell them you think they’re making a mess here. Be blunt and tell them you think they are making a mistake.