Going 50/50 with a partner in a real estate purchase. Good idea?
November 1, 2011 4:52 PM Subscribe
Real estate investing filter: Buying a condo in Florida as a rental property with a partner. Good idea?
posted by seatofmypants to Work & Money (11 answers total)
Hi there, Sorry if this is a repeat of an existing question.
A friend who owns 5 rental properties in Florida is looking to buy more and is offering me the following deal:
I put up the funds needed up front (down payment) to purchase a place and he maintains the property (including finding renters and collecting rent.)
The ownership of the property is split 50/50 and he takes some money to cover maintenance.
Does this sound like a reasonable deal and what type of questions should I be asking going in to this?
Thank you all for your help.