Later.

from the headquarters of Ramsey Solutions broadcasting from the pods of moving and storage studios.

It's the Ramsey show where we help people build wealth, do work that they love, and create actual amazing relationships.

Thank you for being with us America Rachel Cruz Ramsey personality is my co-host today.

Number one best selling author and my daughter the phone number here is triple eight eight two five five two two five.

That's triple eight eight two five five two two five.

Rachel we're going to dive in with the question of the day you want to take it?

Yes so today's question comes from Randy in Virginia.

I'm having my first baby next month and my parents want to move to my town to see the baby more often.

They want to buy a house but would have to sell theirs first to make it happen in our two lazy to go to play for alone.

I thought I would just buy them a house and then they could be my renters.

I currently have fifty thousand dollars left on a 200 don't laugh 250 thousand dollars mortgage of my current home.

They are in their 70s so if they bought the home they would pass they would pay less taxes and claim homestead.

Would it be smarter for them to buy the home themselves or is it okay for me to buy it and make them my renters?

This is just the this is just easiest so they can sell their house and slowly move into the new one new house new city stress free because my dad has a ton of stuff.

Oh man Randy.

Okay first and foremost love the heart and the idea that you want to help your parents but no Randy no you buying a home for them to be your renters not a good plan.

And then on top of that you don't have the money for it I mean you'd be taking out a second mortgage so absolutely not I think that you can invest in some playing tickets for them if they want to come see the baby a few times a year or they can come just stay at your house but if they want to move home their home full time and live in a new city that needs to be on their time.

Yeah they need they're like grown ups and stuff and so they need to do their own deal but sometimes that you never rent to someone and what the second paragraph when in the first paragraph you called them lazy.

So true just a basic concept here as a landlord let me help you with that okay so if your first description is lazy and the next description is renter this is on you.

So no now they need to handle this it's sweet that they want to come be with a grand baby I completely get that.

I don't know how great grandkids are going to be out of a nicer to their parents I completely get this I understand I agree with the move so mom and dad put their house up for sale when it sells they can make the move and buy a house in your city that's how like normal people do it and stuff and that's what they need to do.

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