All Forum Posts by: Megan S.

Hey @Nick Hakim - will you send me details? Thanks.

Curious why the focus is only on short-term rental income for help qualifying for a loan. Why not long-term rental income, too? 

Completed the survey for you.

@Joseph E. Thursday lunch time works for me! (I'm flexible - maybe 1pm?)

Let us know where your office is!

@Brian Rosenthal Sorry I missed your message! I could meet up in Kingston next week starting Wednesday (I'll be out of town through Tues). Are folks free Thursday for coffee or lunch?

@Joseph E.

@Mike Mcgregor

@Account Closed - all good questions, and the answers depend on the deal we strike up! For instance...

- How will the management by partner be treated for taxes, living in unit treated as rent or right of ownership?

Right of ownership, since I'm envisioning both names being on the title

- Laws are not so simple to allow you to just take back interest for non-payment

I'd get a good lawyer to write up the contract. According to Andy Sirkin (a real estate attorney who specializes in this king of agreement, linked above), "The right to occupy is conditional. If the occupier does not fulfill his obligations, including making monthly payments and maintaining the property, his right to occupy is lost."

Thanks for the feedback!

I'm bummed no one has responded! 

In case anyone else out there is interested, I came across this real estate attorney's website, and he has some good resources/info on equity sharing:

https://andysirkin.com/equity-sharing/

Hey Brian,

I'm looking in Kingston, too, and though I'm new to the area, I have made some friends with decades-long experience there. 

Would be happy to meet up for coffee sometime and maybe share info re: those referrals you're looking for...

Thanks so much, @Andrew Postell!

Thanks, @Jeff Dulla!