Updated about 11 years ago on . Most recent reply
Buying into a partnership
I had someone ask if I would be interested in becoming partners in a 3 fam rental prop he owns. He fell behind on the mortgage due to personal reasons and has since gotten his finances straightened out. He suggested that maybe we coyuld figure out a deal where I pay off the debt he accumulated in back mortgage payments, prob 20k or so for a 50% stake in the property. Also I have the option to live in one of the units. IDoes this seem like something worth looking into?