Options for Selling Partial Equity California?

My parents bought a home in the early 1970s in California, which they own
100% with no loans outstanding. Like anyone who bought real estate in
California 30+ years ago, what was worth tens of thousands then is now worth
over one million. Are there any good options for selling a portion of
their equity to a passive investor, so that they can enjoy some benefit from
their accumulated equity now in their later years? They like the house
and are not keen on moving out in the immediate future, so an outright sale
is precluded.

Miscellaneous requirements around this:

1) The investor must be passive and should not have a controlling interest.
The investor has to be a long-term believer in California equity values, and
the decision when to sell the home has to be entirely the decision of our
family. The investor has no voting rights on any decision involving the
property, but would participate based on equity percentage at the time of
sale.

2) No one here is interested in reverse mortgages and other financial
gimmicks to extract cash in the short term at the cost of creating long term
liabilities. The objective is to get a fair cash value in exchange for
equity ownership, not a financial obligation to pay someone.

I would appreciate all advice on how to locate a credible passive investor,
as well as any advice on pitfalls to watch for and legal issues to be aware
of.

--
Will
Internet: westes AT earthbroadcast.com

Re: Options for Selling Partial Equity California?

I'm an oldish man-78-who trained under Charles Shubin [in LA] in '73 and
under one of the forty thieves-who had purchased 3000 houses by the time I
joined him in '83--bought 240 houses since that first meet. Recently joined
Marshall Reddick and became a lender with GEL--expect to have 15 million in
four years in Gel alone--so have considerable knowledge about most
anything--not standard in Real Estate. If you contact Julie Johnson
she can probably expose you to thousands who
will do an equity share with you folks. I believe they do hundreds per
month--I know they buy over 1000 houses per month all over the USA. Grampa
Jack



"Will" <> wrote in message
news:
> My parents bought a home in the early 1970s in California, which they own
> 100% with no loans outstanding. Like anyone who bought real estate in
> California 30+ years ago, what was worth tens of thousands then is now
> worth
> over one million. Are there any good options for selling a portion of
> their equity to a passive investor, so that they can enjoy some benefit
> from
> their accumulated equity now in their later years? They like the
> house
> and are not keen on moving out in the immediate future, so an outright
> sale
> is precluded.
>
> Miscellaneous requirements around this:
>
> 1) The investor must be passive and should not have a controlling
> interest.
> The investor has to be a long-term believer in California equity values,
> and
> the decision when to sell the home has to be entirely the decision of our
> family. The investor has no voting rights on any decision involving the
> property, but would participate based on equity percentage at the time of
> sale.
>
> 2) No one here is interested in reverse mortgages and other financial
> gimmicks to extract cash in the short term at the cost of creating long
> term
> liabilities. The objective is to get a fair cash value in exchange for
> equity ownership, not a financial obligation to pay someone.
>
> I would appreciate all advice on how to locate a credible passive
> investor,
> as well as any advice on pitfalls to watch for and legal issues to be
> aware
> of.
>
> --
> Will
> Internet: westes AT earthbroadcast.com
>
>
>