Is this a good idea?

[/u/TheRealSkellXton]

Long story short • me and my spouse are divorcing • We borrowed money from their grandparents to buy a fixer upper 4 years ago with the intent to pay it back after 2 years • We owe them $80k • We decided to sell even though the house isn't finished We might get enough to break even • I really want to keep the house and finish it(needs a lot of work) but no funds to do so • I have a friend that wants to own property • I had the idea that we sell it to them as is for $150k( they would have to get a loan) even though it's not worth it yet • I would pay the loan payment for them • I then take the money and pay the grandparents back and gives $5k to the ex (it's better than nothing) • Take the leftover $65k and put it into the house • The houses vaule increases and we could potentially sell for $200k if not more later on down the road

Does this seem like a good idea? What kind of hurdles might we run into if we go through with this plan?

If anyone has advice or needs more information feel free to dm me.

submitted by /u/TheRealSkellXton
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Is this a good idea?
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