Anyone ever bought a house with friends?

[gen3flygirl]

Well what are you looking for? Price rage? Proximity to the lake? Do you want lake or Sandusky bay side? Boat dock? Boat launch? Do you want some land with it or just a place to drink and fish?

Since the area is a big fishing/ tourist area you can get some good crash pads that are pretty much right on top your neighbors but come with boat docks. I know there is a TON of property for sale up there right now. If you go with Catawba you might be able to get a place walking distance to the PIB ferry.

[Bad324]

Well what are you looking for? Price rage? Proximity to the lake? Do you want lake or Sandusky bay side? Boat dock? Boat launch? Do you want some land with it or just a place to drink and fish?

Since the area is a big fishing/ tourist area you can get some good crash pads that are pretty much right on top your neighbors but come with boat docks. I know there is a TON of property for sale up there right now. If you go with Catawba you might be able to get a place walking distance to the PIB ferry.

PM'd!

[Ron505]

I have not read the thread through, but to answer the original question, no, beacuse entering a lease was enough for me to learn my lesson. My son, 20 yo, just tried renting with his 2 best friends in the world, and 5 months later, it's over. They are stuck with a bad credit report and paying what is due in the next few months.

Good luck man.

[Jamez]

People don't do anything together with bad intentions.

No one plans to get divorced from their wives or have falling out with family members.

Nothing can ruin a great friendship or relationship like money. Sad but true.

Id say if you really value those friends then don't position yourself or them for failure.

Not saying it will happen, but what if it does.

Best of luck, just my 2 cents

[madcat6183]

I work in home lending, what you are planning to do is an awful idea. Trust me. I see it multiple times a day, and it is always a fucking mess. Then one of the owners hates the other 2 or however many because one person isn't holding up 10% of the deal etc.

No matter what others say, lending and the government regulations now a days make this an awful idea.

I cannot post too much but if you want facts etc. pm me, and I will go into detail.

For the record I was 99% doing this with my best friends, basically my non-blood brother, did not do it due to me leaving my hometown, and his home was foreclosed on, he filed BK, and the house still has not sold at sherrif's sale. All of that would have also been on my credit, no matter what the ownership, etc is, it ALL goes on EVERYONE's credit. He lost his job twice and I would have had to make the WHOLE payment or had what he has on his credit report.

This is one place, you need facts from someone that does this DAILY, not someone who did it 2+ years ago, because the regulations and guidelines now are NOTHING to what they were.

This is not a place that lawyers, attorneys, judges, real estate agents hold the knowledge either, this is somewhere where LENDERS hold it. Trust me, I handle approvals, declines, etc. all day, everyday. Since 7/15 there have been so many changes in lending that I could write a freaking book about it, and put everyone to sleep.

Also if you are looking after what I said, I also have a friend who is a real estate agent. I grew up every summer at the lake, and have some connections too.

[madcat6183]

For the record not trying to be an asshole, just offering the knowledge I see from lending to all 50 states daily, multiple times a day, thousands of times a year.

Sorry if it sounds rude/mean.

[Bad324]

For the record not trying to be an asshole, just offering the knowledge I see from lending to all 50 states daily, multiple times a day, thousands of times a year.

Sorry if it sounds rude/mean.

I take no offense, not rude or mean. Its good info to come by