What would be best? - Posted by Trey
Posted by Trey on April 26, 2000 at 18:50:19:
I will be attending graduate school for the next three years. I would also like to be employed in this city after graduation. (Likely prospect.)
I am also ready to actually get my feet wet in RE investment. I thought it might be a good idea to partner-up and buy a property with my step father who has some RE experience. I thought maybe a duplex would be a good arrangement. I could stay in half and rent out the other half. That would provide my step father with reliable onsite management, tax benefits, etc. I would get equity in the property (partnership), a subsidized rent (say, instead of paying $500 rent, I could pay $300 and call the other $200 “management salary” which he could deduct as an expense.) Does this sound like a feasible idea? Would a Single Fam. home with “roommates” be a better idea?
I was thinking a duplex would be perfect because we could continue to own the property after I graduate with me living there “as management”. I don’t really want roommates after grad school.
Any thoughts or comments from the pro’s would be welcome. Especially any comments regarding duplexes and management!
Any thoughts, comments, suggestions would be helpful.