Considering Investing in Real Estate with Family or Friend? Think again

[Corey Dutton]

We were approached to do a loan on a property for a man whose sister is suing him over a property that they both own jointly. The man’s sister felt she wasn’t getting her fair share. So the man sought to obtain a loan against the real estate in order to buy his sister out of the property altogether.

If you are unable to negotiate a buyout with a family member, then the alternative is to sell the property. “Your most expensive money is your own money, and your second most expensive money is your family’s money.” This comes from a real estate investor that I know. For those of you who have been in real estate investments with family members, you can likely identify well with that quote.

Because there are so many unforeseen costs involved with investing in real estate with family members and friends, people come to us for private money loans against properties to buy out family members. Think of all of the costs involved before investing with a family member or friend.

To learn more, please visit http://www.privatemoneyutah.com