Welcome to AlpineZone, the largest online community of skiers and snowboarders in the Northeast!
You may have to REGISTER before you can post. Registering is FREE, gets rid of the majority of advertisements, and lets you participate in giveaways and other AlpineZone events!
The big difference between "friends" and family is, family members are not necessarily expecting the partnership to be entirely fair, or at least not all the time. You're family after all. You help each other out at one point or another. You parents wipe you ass when you're little. You wipe theirs when they're old.I think if you buy a house with friends, the odds for success are poor. But it can work with siblings because the relationships are different, and you're probably already tangled up financially in one way or another. And if Mom and Dad are still alive and thinking well, they can help arbitrate disputes. Or you might get Dad to put up some of the dough required. But I give a solid thumbs down for buying with friends.
You trust your family will hold up their end of the bargain. And you have good reason for that trust because you've been together much more intimately than any "friends" for much longer. Deep down, you KNOW their true character.
I've been in with family members in financial transactions. It all worked out for all parties.
But how many sole proprietors have out perform business that have partners?Yeah, there aren't many stories of friends going into business together that end up hating each other.
So to be so negative but DON"T DO IT!!!!!!!
That's when you need to go your separate ways. And that itself doesn't need to be a negative either. Hopefully, you've both gotten enough benefit from the partnership already.even ones I "trust", I still can't guarantee that their interests wouldn't change over time to no longer align with mine.
But that's exactly the advantage of family. You know them for such a long time you know who not to trust too.I know my family well enough to know not to trust many of them
I didn't say it's "easy" for everyone. Much less imply it's "read" people on short encounter. But it was easy for me to read long time friends and better yet, family members. At least it was "easy" for me to weed out those untrustworthy. I haven't had anyone whom I trust violated my trust. Even when we had disagreements, we always managed to sort them out amicably.ABC, you make it sound like it's so easy to separate the good from the bad. Let me tell you, in general people are very unpredictable. They basically suck and when you add matters of money they suck more. No one ever does what they say they will do. That is why signed agreements are always key. And only a few really talanted people can truely read people from the start. And those people are few and far between.
Probably. I'm not surprise if luck has something to do with it.You are certainly a very luck guy.
this. that's what i would do, if i must. personally, i would never do this. but, if i must..Form a corporation and buy the house under the corp.
This!in any business partnership, the beauty of a contract is that it forces you to spell out all assumptions as well as exit terms that require agreement upfront, if you get a good lawyer.