There comes a time over the course of any renter’s time in a particular piece of real estate where it seems that the payments are providing a great stream of income for a landlord but little for you. Indeed, as incomes begin to creep up and the ability to handle at least a portion of a mortgage becomes a possibility, more and more renters are beginning to feel that way and enlist a friend to make their home ownership dreams happen.
There is a time in life where particular income levels can outgrow renting but perhaps be too small to take on a full mortgage. As a way to either bridge that gap or land a home above a single person’s income level, friends are beginning to team up in greater numbers to operate as co-owners on a home. As with any real estate transaction, these deals require a bit of care and, more importantly, asking some tough questions of yourself and your prospective co-owner...[more]
