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Hi there, I've sent you an email…
Having been involved in a "group arrangement" with shares many years ago, I can say the most important thing is to make sure that everyone has their "goals/values" 150% aligned.
Every group thing I've ever seen (especially with friends) has ended up going sour, with the whole issue being that 6-18 months into it, it was realised that being friends didn't necessarily mean that your "investing goals/values" were aligned.
It has to be thought 100% as a business transaction – would you go into business with your friends? My advice would be to go and spend the extra time finding the right people that align as closely as possible with your and your friends goals (assuming they are aligned) rather than just jumping in with the closest people you can find – work colleagues etc.
Most of the logistics should be fairly easy with regards to depreciation etc. I imagine the hardest part would be finding the right tenants for that other room.
My brother has just gone through hell with some shared tenants he had in a place in Sydney in similar circumstances. Everything was great, until it wasn't. His problem was that he only had a handshake agreement with the person (he's learnt now) and because of that they completely screwed him over (even after being friends).
Sheesh that would have been a tense time – good to see you got through it.
Where there's a will, there's a way..
Great, thanks RPI, I've sent him a private message.
