Mechanics of purchasing residential property with partners?
I along with 3 partners are first time home buyers and are interested in purchasing a quadplex together, as it makes incredible economic sense. This is in the Los Angeles area.
What are the mechanics / logistics around this?
1. How is getting financing impacted? Can we get individual residential loans?
2. We would be interested in doing a condo conversion so as to make a clean split of the property
3. Any other considerations?
Your thoughts and tips are greatly appreciated!