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Direct_Ad18 t1_jcw2pg5 wrote

Lol buy a property with strangers, sounds like a great idea.

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gracie_jc t1_jcw3poq wrote

This is not the type of thing to do with complete strangers.

If one of you stop paying the Mortgage, the other people would still need to come up with the money. You can’t evict an owner either.

I have a friend that asked me to invest in RE with him. He has a couple of multi-family already. I asked him: how does your rainy day fund looks like? His answer: that’s why I need a partner! So in addition to chip in for the down payment and closing costs, I will be solely responsible for any financial emergency or unexpected expenses? No way Jose, he’s too risky to invest with without having a proper financial plan. I’m not going to be anyone’s “please rescue me, I’m broke” plan either.

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Happyjee t1_jcw5pkt wrote

How does buying help now? Prices are through the roof, rates are higher and Jersey City property taxes keep increasing as if everyone earns a million dollars here. To top that job security is at its worst.

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datatadata t1_jcw71ew wrote

Sounds like a bad idea. Just do it with family members if you must, but tbh if it was me, I wouldn’t even do that

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