follow up - Posted by john
Posted by john on June 30, 2005 at 12:17:53:
Thanks for everyone’s responses. I understand that 4 roomates has the potential for trouble, however as i mentioned in my first post one of the four is my current roomate. This is the person that has been my roomate since i moved out for the first time right after highschool. Another, different person out of the four has been a roomate before, we had a three bedroom apartment for a year and everything worked out fine. At the end of that lease he chose to move back home and then we got a 2 bedroom. The last person out of the four is probablly the best roomate out of all, he works the night shift so he would never even be seen, this has been my friend for over ten years, although he has never been my roomate before i do trust him, he works at a factory that his father runs so his job is secure and he makes more money then anyone else. The reason for the four roomates is the cash flow that we can generate. By myself i dont have either cash or credit, but together we can come up with several thousand a month to fund whatever deal we decide on, also if we mess up and lose money somehow, the hit would be divided by four instead of one person getting burned by himself. 2 of my freinds, the ones that have been my roomates before, where there from the beggining. Before we even knew anything about real estate, we learned the possibilities and have been on a quest to cash in on them ever since. But we never really had the money to do anything until now, If we buy a property we can actually afford to hold if we are unable to flip it, and we also have the option to rehab the place and sell it retail, because for the first time we all have jobs and we could afford the monthly payments until it got sold. How did everyone else get started? At 22 years of age it seems like i dont have a lot of options.