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anyone partner with a bro and go half on residential real estate investment?
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Date: September 16th, 2024 6:28 AM Author: Alcoholic smoky ceo what happened and how'd you go about it? (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48093621) |
Date: September 16th, 2024 6:37 AM Author: slate excitant home black woman no one has bought a home in the us in years (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48093638) |
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Date: September 16th, 2024 6:41 AM Author: Alcoholic smoky ceo I know a bunch of marrieds who bought houses between 2020-2021 (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48093644) |
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Date: September 16th, 2024 6:45 AM Author: slate excitant home black woman that was years ago in the easy money period (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48093652) |
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Date: September 16th, 2024 7:47 AM Author: Alcoholic smoky ceo indulge the hypo -- assuming I'm planning on buying a house to put up for rent in bumfuck Texas for relatively cheap. Joint mortgage with a buddy? (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48093696) |
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Date: September 16th, 2024 7:48 AM Author: snowy internal respiration this never ends badly (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48093697) |
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Date: September 16th, 2024 8:15 AM Author: Alcoholic smoky ceo what are potential pitfalls?
If we split everything 50/50 down the middle, buy a property that can be rented out immediately, use the rent to pay the mortgage, take out a home equity loan against the property, buy another property, rinse and repeat?
I'm just thinking its a lot of risk to shoulder by myself and it would be easier just to partner up with a buddy |
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Date: September 16th, 2024 8:23 AM Author: maniacal racy prole What happens when you can't agree on what to do with the property? What happens when you're trying to get more financing and he refuses to sign off on liening the home for collateral? What happens when some unrelated dispute happens and he devotes his life to fucking with you? What happens when extremely expensive maintenance or repairs are required and he refuses or is unable to cough up the extra dough? And if none of this is a problem, what happens when he dies and his shithead kids try to fuck with you for an extra dime or just because they don't like you? (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48093734) |
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Date: September 16th, 2024 8:31 AM Author: Alcoholic smoky ceo buddy is early 30's unmarried and without kids.
Planning on discussing any and all contingencies and having a plan for as many scenarios as we can come up with.
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Date: September 16th, 2024 9:08 AM Author: maniacal racy prole How will you enforce these 'contingencies'? Good luck completing any deal when he disagrees, sues, and puts a lis pendens on the property, no matter how frivolous his disagreement. (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48093828) |
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Date: September 16th, 2024 8:29 AM Author: snowy internal respiration watch the movie "The Loft" (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48093741) |
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Date: September 16th, 2024 8:37 AM Author: Alcoholic smoky ceo reading the plot on wiki, seems entertaining (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48093754) |
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Date: September 16th, 2024 8:37 AM Author: snowy internal respiration dont ruin the movie bro (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48093757) |
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Date: September 16th, 2024 8:10 AM Author: maniacal racy prole This is just called 'marriage' hth (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48093708) |
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Date: September 16th, 2024 8:26 AM Author: yapping really tough guy toaster My advice is to save up and buy it yourself. This shit goes sideways pretty often.
At a minimum make sure you have a good operating agreement prepared by someone who knows how to do it and that the buy/sell provision is robust. |
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Date: September 16th, 2024 8:28 AM Author: maniacal racy prole "Haha, you thought you could unreasonably withhold your assent to this deal, but little did you know that I have this IRONCLAD OPERATING AGREEMENT!"
*spends 2 years in litigation, by which time the buyer is long gone* |
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Date: September 16th, 2024 8:36 AM Author: Alcoholic smoky ceo I think this is probably the MFCR, but a mentor of mine boomer fed mag, recommended that I partner up with a buddy (a fellow mentee and good friend) and get into real estate where houses are still affordable within our budget. (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48093751) |
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Date: September 16th, 2024 9:44 AM Author: yapping really tough guy toaster Here's the thing. They don't have to be an asshole or an idiot for the partnership to go south. They just have to have an unreasonably strong opinion about whether to remodel the kitchen. Or need the cash or want to be free if the hassle because they lose a job, move across country for another job, kid's tuition is due, mother in law gets sick, or god help you if they get divorced. There are many other triggering events.
Do what you want, it may well work out. But you've been warned. |
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Date: September 16th, 2024 11:32 AM Author: Histrionic pit (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48094309) |
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Date: September 17th, 2024 5:15 AM Author: Alcoholic smoky ceo (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48097775) |
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Date: September 16th, 2024 8:31 AM Author: Sooty comical box office If goyim keep doing retarded shit like this jew lawyers will continue to fleece us (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48093742) |
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Date: September 16th, 2024 8:37 AM Author: Alcoholic smoky ceo what's the cr? (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48093756) |
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Date: September 16th, 2024 8:40 AM Author: Sooty comical box office Just buy it yourself (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48093761) |
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Date: September 16th, 2024 9:39 AM Author: disrespectful locus nothing wrong with this. i have done it many times. but never with residential. I've done raw land or commercial. both parties should have a clear understanding of the transaction and have some familiarity with RE. some level of transparency between them about financial situation is important.
Just counted, I've done 8. Smallest was 250k (sold for 500k to a new partnership where i am still a partner) largest was 4m. |
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Date: September 16th, 2024 9:39 AM Author: Hyperactive faggotry blood rage yes. worked out fine. (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48093897) |
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Date: September 17th, 2024 8:40 AM Author: Primrose Heaven Better to go with multifamily. Then, if you have a deadbeat tenant, you don't lose all your cashflow. Higher turnover makes it easier to renovate and raise prices as vacancies arise. (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48098015) |
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Date: September 17th, 2024 8:43 AM Author: big violent digit ratio great thread (http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2/#48098019) |