What to consider when buying real estate with family or friends
Here’s what you need to consider when combining purchasing power and splitting carrying costs with either parents, friends, or other family members. All of the potential co-owners should have a discussion about their finances and life goals as this will impact how the partnership plays out. Do all of the co-owners have stable incomes and a manageable amount of debt? Make sure everyone is dependable. Remember that with a joint mortgage, anyone who is on the mortgage is individually responsible...
