anyone partner with a bro and go half on residential real estate investment?
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Date: September 16th, 2024 8:15 AM Author: Soren "Bob" Odenkierkegaard
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
(http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2#48093718) |
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Date: September 16th, 2024 8:31 AM Author: Soren "Bob" Odenkierkegaard
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.
(http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2#48093743)
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Date: September 16th, 2024 8:26 AM Author: dead link clicker
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.
(http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2#48093736) |
Date: September 16th, 2024 9:39 AM Author: Live Free or Die.
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.
(http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2#48093894) |
Date: September 16th, 2024 9:39 AM
Author: .,.,....,.,.;,.,,,:,.,.,::,...,:,..;,..,
yes. worked out fine.
(http://www.autoadmit.com/thread.php?thread_id=5595574&forum_id=2#48093897) |
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