Dear Dave,
My in-laws have inherited some money, and they want to invest in real estate. They have offered to help my husband and I buy a home, but they want ownership of some kind as part of the deal. Is this a good idea?
Cynthia
Dear Cynthia,
I’d pass on this offer. It’s not a good deal.
I’m glad they got some money. I mean, that’s great for them. If they want to do some real estate investing, that’s awesome, too. If they want to give their kids a gift out of the inheritance money, that would be a very nice, generous thing to do. But no, we’re not going for a deal where they have ownership in your home. Things like that end up messy, and it won’t get you where you really want to be. Even if it does, you won’t like the trip!
If you take a deep look into this, you’ll begin to understand there are some things involved that will change the nature of your relationship with your in-laws. Every time you see them and they see you, they’ll see dollar signs. Dinners together will start to taste different, and they’ll feel different, too.
Protect your relationships and your family, Cynthia. Please don’t do it.
—Dave
* Dave Ramsey is CEO of Ramsey Solutions. He has authored seven best-selling books, including The Total Money Makeover. The Dave Ramsey Show is heard by more than 13 million listeners each week on 585 radio stations and multiple digital platforms. Follow Dave on the web at daveramsey.com and on Twitter at @DaveRamsey.
