All Topics / Legal & Accounting / Buying an investment property between friends

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  • Profile photo of wynnumwynnum
    Member
    @wynnum
    Join Date: 2008
    Post Count: 1
    February 14, 2008 - 11:52 am

    Looking for some advice….
    4 friends are buying a house for investment purposes.  At the moment we have no formal agreement between us.  What sort of things should be covered in this agreement?

    Profile photo of joshryanjoshryan
    Member
    @joshryan
    Join Date: 2008
    Post Count: 1
    February 14, 2008 - 1:03 pm

    I'm looking into doing the same soonish… been told to just get a solicitor to spit something out that both all are happy with to keep things straight from day 1.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    February 14, 2008 - 9:58 pm

    Have a look at http://www.lawcentral.com.au/CreateDoc/createlink.asp?docId=60 it might help.

    Richard Taylor | Australia's leading private lender

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    February 15, 2008 - 4:00 am

    Just  be careful. These things often end up with friends no longer being friends. Discuss what happens when one wants to sell, or get out of the deal – how will it happen, what price, what if others don't want or cannot buy them out etc etc.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 4 posts - 1 through 4 (of 4 total)

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