All Forum Posts by: Alex Johnston

We seem to have quite the popular topic here! This post has provided me with a ton of great feedback and things to consider.Thank you all for sharing some of your thoughts and unique perspectives! 

@Jason G.  

Ah okay, gotcha... The difference is the official lease agreement. So in other words, if there's no contract, there's definitely risk? Yikes.

@Jason G.

This is interesting.... So are you saying that if I own a property and I take on a roommate and charge them rent to live inside the property, then I turn around and use that rent to contribute to the mortgage payment, they have claim to my equity because their rent was used to help pay down the mortgage? 

 I'm trying to better understand what is special about this situation that could possibly create an equity position and then wouldn't that be the case in any and all other owner-roommate or owner-renter situations? Theres got to be something I'm not understanding here, because this seems problematic.

Very interesting things to consider here folks, thank you all for the input!

@Linda Weygant I think the point of me reaching out to our BP community, "strangers on the internet", is to gain some perspective from those experienced in real estate investing while also dealing with real life issues along the way, as I'm currently experiencing. Surely there are plenty of investors that have had to navigate similar experiences themselves. Thanks for sharing your experiences with me. 

Thank you everyone for your responses. I'll try to clear this thing up: My girlfriend and I both want to relocate to Texas. She is not interested in purchasing a home or real estate investing at this time what-so-ever, she wants to rent and remain free of that type of financial commitment for now.

 I on the other hand, am interested in purchasing my first property as an investment. I want to purchase a duplex, live in one unit and rent the remaining unit. That being said, we both want to live in the same unit no matter what we do. We both make the same amount of money at our jobs. Im interested in buying, she's not ready to buy yet. She wants to remain a renter for foreseeable future. 

I'm posting this to see how others would structure the expenses of this type of living arrangement. Also just to note, the idea of marriage is a non issue. We do not want to get married for the foreseeable future. Also the trust factor is a non issue. We trust each other just fine. 

The main issue is, that buying real estate is my goal and I'm ready to follow through with it, but this is not her goal and she does not want to be financially tied to the property...yet we wish to live together. I hope this clears things up. I'm simply looking for suggestions on structuring the expenses and who pays what, that's fair to both of us given the circumstances. Thank you again for your constructive thoughts on the subject, I do see a few helpful suggestions that breakdown different ways to structure expenses. This is in no way some attempt to be greedy and retain all equity for myself while having my girlfriend foot the bill. We are a young couple that wish to live together but my own real estate goals are not her goals. I'm simply trying to navigate the reality of the circumstances. If you have any further constructive thoughts please feel free to leave a comment.

I need some advice from any and all who have an opinion on the matter. Even better if you've been through the same situation. Im considering moving to Texas from Washington and purchasing my first duplex and house hacking. I graduate college in near future and I'm a veteran, so I plan to use my VA loan to finance the purchase. I have a long-time girlfriend that I wish to move with and live with. I'm perfectly happy with my relationship but I'm absolutely NOT considering marriage at this time, or anytime within the next 5 years. I want this property to be 100% my own. How would you suggest fairly splitting the bills with a partner who is also technically a roommate? We both make about the same salary annually. 50/50 everything? Should I let her pay some variation of HOA, property tax, mortgage, insurance, utilities? What's fair and reasonable, if my goal is retaining 100% equity and ownership of this first property?

I am a 26 year old Army Veteran and Junior in college, very interested in using my VA loan to purchase a duplex and house hack, live in one unit and rent the other, as my first real estate investment. I plan to move to the Austin, TX area when I graduate (1yr) and work a full-time job while involved with real estate investing. My most recent credit score is fair-good and by my calculations, I will have $10K saved by the time that I am ready to purchase the property and move in, but that's my only liquid capital ($10k).

I have no family that will help me financially. Im not asking for a mentor, but maybe a quick tip on what to lookout for and what to consider from anyone with VA loan first time investor experience or knowledge. Literally any and all inquiries, comments or two cents would be very much appreciated. I want to get this right. Thanks y'all.