Newsflash: (Advice) Getting an advance on inheritance to purchase a condo from parent. Should I officially buy at true price (which includes inheritance)?

Hello. This is my first time buying property so I would really appreciate any advice. So, I’m buying a condo worth 34k at 20k, because the parent selling it to be is giving me a 14k advance on my inheritance. With a net take home of $3984/year (not including property tax or repairs) the cap rate is pretty decent, which I was going to leverage toward my student loans. But I’m afraid that if I buy it for 20k and try to sell it in the future, it will be harder to get the true value of 34k+, plus I’ll be lowering comps which indirectly affects family that own other condos there. If I officially buy for 34k, with a “balloon payment” owed at a later date, my higher property tax will eat into my cap rate. I am wondering what the most sensible option is. Any advice is much appreciated.

Read more at https://www.reddit.com/r/RealEstate/comments/6qkr0e/advice_getting_an_advance_on_inheritance_to/?utm_source=ifttt

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