Real estate question

[OldShooter]

Thanks again for all of the very helpful comments. You’ve essentially helped talk me off the cliff. The initial investment would represent a very small portion of my portfolio, but with the entire unit representing 20% and I really have no idea how to navigate (nor that much interest in learning) it would likely be a foolish thing to jump into. This is why I love this forum!

Wise. But, done carefully and well, RE can be a good investment and good diversification. If you like the idea, work on finding a local deal recommended by legal or accounting professionals that you know. Allocate a year or two to wait for the right thing.

 

[tryan]

I am a seller in this market, would never buy at these valuations ... that said:

I've never seen a realestate partnership last 20 years .... spouses get involved and try to steer the ship, one feels slighted (working too hard ... compared), different priorities (family, exit plan ...).

Also expect your partner will want a 15% management fee. AND he deserves it! 12 units is a ton of WORK (ask me how I know!). Also expect he gets paid before you do.