Investing in real estate business with a friend, is that a good or not?

[Ralphjoe]

I am planning on investing in a Land that I saw yesterday but I cannot pay the price on my own. I am thinking of teaming with my friend so that we can buy it together and later sell it off.
We all know that real estate investment is not short term investment but it takes decades to sometimes real the reward if a real estate Business or investment.
Going by this, would it be ideal to go into this investment with my friend or I should jettison the plan?

 

[Nosheen Rakhshandha]

I think it's not a good option to do bussiness with your friend may be in future you come across many complication .Its better to wait and arrange money by your own

 

[Ojonuyo]

I will tell you yes and no. No one is to be trusted in this life, not even yourself but God can be trusted. If you trust that your friend then feel free to partner with him on the business and success is sure. If you are not sure, please withdraw from that business. Always listen to your mind.

 

[giddy]

When you buy a house with a friend, you can both contribute toward its purchase price. And the higher your down payment, the lower your ongoing mortgage payments will be. You'll have someone to split your homeownership costs with. Property taxes, insurance, maintenance, and repairs can get expensive
Just like a combined venture
50/50 play

 

[Abibatabosede]

I don't buy the idea of joint partnership because there is a lot of future problem which may occur between the two parties and their offspring, and if their is trust between them they should both have an agreement and no each other's stand.

 

[Alexandoy]

First off, make sure that you can trust your friend with something that involves money. I had a bad experience with a best friend that became my business partner and later on he did something behind my back by stealing our major clients. Anyway, it is a good idea to own something with a friend or a relative since the title will be under both your names. The only issue would be when one of you would want to sell the property and the other one wouldn't agree. Think about that point which can lead to a dispute.

 

[Sincerem]

Their is nothing bad with agreeing with your friend to team up together and buy a piece of land you saw in a good position, that you like. To ensure no misunderstandings tomorrow, you got to divide the land into two. By utilizing a land survey that will help you people to survey the land and bring out equal share of the land.

 

[WhiteHouse]

One of the issues with companions , is that life impedes a joint endeavor over the long run. Some will move away, marriage, separate, ailment, passing, youngsters, chapter 11, work misfortune… .. what's more, they will require their cash NOW despite the fact that you are in a downturn. Pick any explanation genuine or not-where at least one companions turns into not, at this point a companion. Let's assume you, as the chief, makes a 'botch' that costs thousands, or real demands for more cash because of floods, fire, defacement .

You can have all the legitimate association records you require or need. It can characterize what to do due to changes, and so forth to monitor hazard apparently however that is far not the same as staying away from individual, passionate danger with different people that irrefutably happen with time.

 

[Hammad1245]

I am planning on investing in a Land that I saw yesterday but I cannot pay the price on my own. I am thinking of teaming with my friend so that we can buy it together and later sell it off.
We all know that real estate investment is not short term investment but it takes decades to sometimes real the reward if a real estate Business or investment.
Going by this, would it be ideal to go into this investment with my friend or I should jettison the plan?

One of the issues with companions , is that life impedes a joint endeavor over the long run. Some will move away, marriage, separate, ailment, passing, youngsters, chapter 11, work misfortune… .. what's more, they will require their cash NOW despite the fact that you are in a downturn. Pick any explanation genuine or not-where at least one companions turns into not, at this point a companion. Let's assume you, as the chief, makes a 'botch' that costs thousands, or real demands for more cash because of floods, fire, defacement .

You can have all the legitimate association records you require or need. It can characterize what to do due to changes, and so forth to monitor hazard apparently however that is far not the same as staying away from individual, passionate danger with different people that irrefutably happen with time.

Y

I am planning on investing in a Land that I saw yesterday but I cannot pay the price on my own. I am thinking of teaming with my friend so that we can buy it together and later sell it off.
We all know that real estate investment is not short term investment but it takes decades to sometimes real the reward if a real estate Business or investment.
Going by this, would it be ideal to go into this investment with my friend or I should jettison the plan?

Yes you are right. This is Not a short term investment. It takes years to get reward. If your friend is generous and of good nature and you have good understanding of him you should invest. In this business profit is sure but takes time.

 

[Sariana23]

If you can do business with your friend, but I recommend that you make the legally documented separation, since it is a long-term investment and future conflicts should be avoided. I have 2 aunts who bought a piece of land and made the legal separation, and then the land was sold separately.

 

[Donkiz]

There's nothing wrong with going into a partnership business with a friend, provided both of you trust each other and equally understand the nature of business you are going into and are ready to wait until the business matures. So I don't think that there any issue there, since both of you are adults and are going into the business partnership with clear eye, without any blackmailing or coercion.

 

[Zubair]

I will suggest you that, start something else which demands Less Investment, as you said you don't have full investment. Why don't you go to that business which can give you income on daily basis rather than after a decade.

 

[Sammyesx]

If you are sure of the discipline of your friend then you can go ahead, because after just a few years he might just come to you one day and say he is in need of money so you should sell the land and give him his own share, then you may not have any other option than to sell the land prematurely. I would prefer you do it with a family member.

 

[HIFSA LAHORI]

There is nothing wrong with that. Just that the friend should be your best. So that you can be sure of it. Many people invest together and reap the benefits. If you want to invest in real estate, you have to go through a contract. In which you write that the property cannot be sold without the consent of both .Also write the pointer you deem necessary.

 

[Sanusi]

Its a good idea for me and at the same time is also a bad idea if you don't have a trustworthy friend, i think partnership in business is a good thing most especially if you have a good friend, and it also relieve you of some things for instance you don't need to start with large capital because its a two man business.

Post automatically merged: Jan 28, 2021

Its a good idea for me and at the same time is also a bad idea if you don't have a trustworthy friend, i think partnership in business is a good thing most especially if you have a good friend, and it also relieve you of some things for instance you don't need to start with large capital because its a two man business.

 

[Neeta313]

It's not a bad idea. As long as you and your friend can agree on a decision. Some friends can be difficult, they won't want to listen to your own side or even hear your opinion and before you know it, you guys will have problems and they will want to split or share the company. If you have the funds to start up alone it's better you do that.

 

[Mawome]

Sir, I will advise you to tell that your friend to borrow you some money maybe both of you should sign a memorandum of understanding as to when you will pay him back ok? I know why am saying this cos it has happened to my some years back and the result was something we didn't even expect from his friend.

 

[btaliat]

You can walk up to the owner of the estate and tell him your predicament he may even allow you to pay by installment. This one is better than including friends. There are many disadvantages that associate with doing buinsess with friends.

 

[kayode10]

There is nothing stopping you from investing in real estate with your friend if it happens that he or she is trustworthy. Well I will ask you to just but verify. This means that before you can start a business with your friend you need to involve legal documentation of the old process to avoid conflict.

 

[Grant]

That depends really. Can you trust your friend enough to invest together? Do you think you both can handle things if problems come up? I try not to invest with family or friends, as it's never a good time to lose out on business. I would advise to only invest with someone who you know will get the job done. And if all else fails, you don't have to worry about paying a friend or family member back.