I think the concept makes sense and has upside if executed properly. However, I do agree with a few people in this thread and believe that equal ownership between you and your friends has tremendous downside and inherent risks.
If your goal is to save rent and instead, allocate a portion of that ‘rent’ towards building equity in a home, then I would look to one set of your parents or another family member to purchase the house. You and your friends could form an operating agreement that’s beneficial to all parties involved.
bakery93 t1_j6oi3tn wrote
Reply to Is it feasible to buy a house with 3 friends for my 4 years in college (or maybe longer)? by UltimatePlayer3301
I think the concept makes sense and has upside if executed properly. However, I do agree with a few people in this thread and believe that equal ownership between you and your friends has tremendous downside and inherent risks.
If your goal is to save rent and instead, allocate a portion of that ‘rent’ towards building equity in a home, then I would look to one set of your parents or another family member to purchase the house. You and your friends could form an operating agreement that’s beneficial to all parties involved.