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Buying a condo with a friend?

J

JonTheBaller

Golden Member
Is it possible to buy a condo (finance the mortgage) with a friend? It's a 2 bedroom apartment and we're both looking to buy. Let me know, thanks.
 
why would you want to do this?

there are some bad things that can happen. But if you are dead set on it talk to a realator and the bank. they will set you up.
 
Originally posted by: waggy
why would you want to do this?

there are some bad things that can happen. But if you are dead set on it talk to a realator and the bank. they will set you up.
Click to expand...

Fortunately a bank or realtor won't let him do something he'll regret just to make a buck.
 
Originally posted by: Nebor
Originally posted by: waggy
why would you want to do this?

there are some bad things that can happen. But if you are dead set on it talk to a realator and the bank. they will set you up.
Click to expand...

Fortunately a bank or realtor won't let him do something he'll regret just to make a buck.
Click to expand...

oh yeah they will. IF both of them have good credit they will finance a place in both names. Granted i think its a real dumb idea. but hey if he wants to fvuck his credit up I'm not going to try and stop them and neither will a bank.
 
Originally posted by: johnnytightlips
Can someone go over the risks involved in buying a condo with a friend?
Click to expand...

There are many....them selling, then preventing your sale, them not paying, them moving into it, them moving friends into it, them denying decent tenants, them wanted terrible tenants, etc.

You need a solid contact. In general Condos should be a single party purchase....if you want partners go commercial property or even high end single family/duplex/quads.
 
not a good idea unless you want one and you can't afford one yourself.

my dumbfvck father bought a house with my aunt when we can afford it easily without them. consequence was my aunt wants full ownership of the house and tried to kick us out. it was nasty.
 
Originally posted by: johnnytightlips
Can someone go over the risks involved in buying a condo with a friend?
Click to expand...

Speaking from experience,

A friend and I had decided on getting into a condo together. We had considered going in 50/50 on one. I'm really glad we didn't, as it would have made a bad situation worse, as we discovered that while we were great friends, as roommates, we weren't so great. He's anal about everything being absolutely tidy, while I'm more relaxed. long story short, I left after an argument and go my own place. We've been best buddies again since.

just be absolutely sure that you can get along with them, and that personalities and pet peeves don't collide. Nothing worse then having a roommate ask you to leave by email...
 
Originally posted by: jewno
Can't you live under your mommy's roof for free?? 😛
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wtf my mom takes 10% of my paycheck, and then i pay for half of DSL.....i geuss it's not that bad, if i had my own place i'd be paying more like 60% of my paycheck
 
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