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RidgeRacer

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  • 2 weeks later...

I think it is kind of crazy to go in on a real estate purchase with folks you don't have a life long bond with given all the issues that can arise. For example, one person doesnt make their mortgage payments and either someone else has to cough up that amount or the property goes into foreclosure. And the % ownership of the person missing the payment is not automatically diminished. Even is you pay cash, you can either have a situation (depending on how you structure the deal) where one person could sell their share to someone you don't all like or trust or where a person could not sell if they needed the money and some of the others did not consent to the person he wanted to sell to.

 

You may all be best buds and have commit needs and desires and plans today, but people's lives take them in different directions.

 

I'm real glad I never bought real estate with my ex-wife, and I thought we had a life long bond.

Edited by Ski2Live Live2Ski
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I think it is kind of crazy to go in on a real estate purchase with folks you don't have a life long bond with given all the issues that can arise. For example, one person doesnt make their mortgage payments and either someone else has to cough up that amount or the property goes into foreclosure. And the % ownership of the person missing the payment is not automatically diminished. Even is you pay cash, you can either have a situation (depending on how you structure the deal) where one person could sell their share to someone you don't all like or trust or where a person could not sell if they needed the money and some of the others did not consent to the person he wanted to sell to.

You may all be best buds and have commit needs and desires and plans today, but people's lives take them in different directions.

I'm real glad I never bought real estate with my ex-wife, and I thought we had a life long bond.

Wow you were married before...

 

We'll have a lawyer draft up terms on this...I will only do this purchase with legit people like Johnny Law, NMSki and Atomic Jeff...Toast doesn't wanna be in on the deal since his house is so close to Blue but I expect him to be lounging around the condo in his underwear regularly.

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Wow you were married before...

 

We'll have a lawyer draft up terms on this...I will only do this purchase with legit people like Johnny Law, NMSki and Atomic Jeff...Toast doesn't wanna be in on the deal since his house is so close to Blue but I expect him to be lounging around the condo in his underwear regularly.

lol. So true. I'm still interested. As is Ryan.

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Only married once. Enjoying being a single dad half the time now. Thought I was marrying my best friend, things change. Would not buy real estate with ski buddies.

 

But if you do definitely discuss all these issues and any others you can think of between you first and reach consensus on how you want to resolve them before going in to ask a lawyer to draft your document. Don't want to pay him by the hour while you hash these out in his office. If he is any gpod, you can also count on him raising some new issues you will not have contemplated that you will have to resolve.

 

FWIW I am a lawyer, but please do not consider this legal advice. Consult a lawyer who is expert in such things.

Edited by Ski2Live Live2Ski
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Only married once. Enjoying being a single dad half the time now. Thought I was marrying my best friend, things change. Would not buy real estate with ski buddies.

But if you do definitely discuss all these issues and any others you can think of between you first and reach consensus on how you want to resolve them before going in to ask a lawyer to draft your document. Don't want to pay him by the hour while you hash these out in his office. If he is any gpod, you can also count on him raising some new issues you will not have contemplated that you will have to resolve.

FWIW I am a lawyer, but please do not consider this legal advice. Consult a lawyer who is expert in such things.

I think we'll be ok the majority of PASRs are either lawyers or have dads who are lawyers and I used to watch Ally McBeal regularly.

If Bernie Sanders becomes President I might even buy TP4s share..just doing my part to help poor black men!!!

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Someone from the Blue mountain Facebook page said when they were building the waterpark they found natural gas and stopped. He also said they were going to build a power plant. If that's the case my suggestion is for them to hire Mr. Burns as a consultant as he has been very successful running a power plant down in Springfield!!!

As long as you guys get the Pope's blessing, what's to be concerned about!?!?!?!

We are like the Goonies!!! And when wedding season rolls around we'll be finding that treasure. They can even pay us in Bitcoin!!!!

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Maybe President Bernie will get ski slopes to accept food stamps. Then things will change.

Don't think he's gonna be president. There's already enough skiers and riders no need for more.

I'm with you.

Is cleaning up matter part of your job description?? Prob a lot less stress not working in an office. I'm sometimes envious of our delivery guy...his job is pretty much monkey push the Rock and he doesn't even have to deal with customers or answer the phone at all.

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