Should I Partner Up With Family On A Rental?
Hey Guys,
I'm in a weird situation and could use some help.
I have two brothers and we just inherited two free and clear townhouses.
One brother wants to sell, and one brother wants to keep them and rent.
My choices are:
A) Agree to sell both, cash out completely, and invest on my own.
B) Sell one to cash out my first brother, and split the other 50/50 with my second brother.
I am leaning towards option B because I like the idea of rental income, and everyone gets what they want - but my husband is strongly opposed to the idea.
He is the only one with experience renting out properties. And he would prefer to cash out completely so we can invest on our own rather than remain 50/50 partners with my brother.
He says if we're doing most of the work anyway we should have all of the control.
I guess I'm just worried about the amount of work and time it's going to take to find a new investment property, where as the property we have now is ready to rent right away.
Do you have any advice for me?