All Forum Posts by: Patrick Thomas Dickinson

@Theresa Harris so just to confirm when I talk to title and tell them the percentages I want for tenants in common, telling them I would like to hold 59.2 percent ownership and she would hold 41.8 percent ownership would satisfy what you stated above.

@Theresa Harris great advice I think I might use option 2 thank you for your assistance. 

@Theresa Harris ok well since it hasn’t been sorted and you know my numbers what would you suggest 

Hi bigger pockets folks, 

Closing on a house April 19th, 2022. Me and my girlfriend are trying to come up with a fair percentage split while holding title as tenants in common. Here are the financials. Let me know what you think it should be and your reasoning. Thanks 

Purchase price 925,000 k 

down payment + closing costs +10000$ cash = 85000$ ( I am paying all of this, so I have 85000 into the deal) 

Lending:  We are splitting the loan 50/50 which = 878,750 so 439,375 each 

We plan on paying the mortage 50/50 as well as all house expenses would be 50/50 

Based on this information what do you believe is a fair tenants in common percentage split/ agreement 

Thanks

@Dan H. thanks dan great response 

Hey everyone, 

searched bigger pockets for a while and couldn't find a direct answer to my question. 

I am putting on a very generous offer on a property in Contra Costa County that has a single family home with an adu in the back. I was reading the disclosures and other documents and notice some language about the owner having to reside on the property in order for the adu to be rented out to a tenant ( not family related). Do they new state laws  SB9 supercede these rules that were signed 18 years ago buy the previous owner and the city. Would I have to live in the house indefinitely in order to rent out the adu??? Im thinking no but not 100% sure.  Should I contact the city to confirm this, im thinking so. 

@Kyle Smith that’s funny I currently live in Vacaville we have contemplated the area 

Looking at a property in the Sf Bay area, Ca with an adu that is non permitted on the property. Can anyone chime in about the cost of doing this. Maybe and best case and worst case scenario as far as costs are concerned. ? 

I am , @Brian Garlington but the bigger pockets community is a little bigger than 4 agents opinions, especially 4 agents who have a vested interest in selling you properties in there service area, you never know where and when your going to learn something new so I thought I’d try my luck here as well

thanks for the help @Vincent Vazquez but I have agents lined up in all areas that im looking for. I am really just looking for good sound advice based on my current financial situation. Thanks