Multiple-family mortgages

[beanmaestro]

I’d certainly prefer to buy the place outright, and rent the units directly to our friends, but I’m curious how both options work. Let me know if the “common sense” is correct:

Single Owner: My wife and I would probably need to have X% down, plus 6+ months savings, and income about Y times greater than (annual PMI – Z% of annual rent for units we won’t live in). What are X, Y, and Z likely to be?

Partnership: Together, we have to put A% down with 6+ months savings, and prove income B times greater than PMI. What are A and B? And obviously, we have to be crazy enough to set up such a partnership.

[EconProf]

BobS
RUN, don’t walk, away from all partnership proposals. The odds against them working in the long run are overwhelming.

[EconProf]

BobS
RUN, don’t walk, away from all partnership proposals. The odds against them working in the long run are overwhelming.

[EconProf]

BobS
RUN, don’t walk, away from all partnership proposals. The odds against them working in the long run are overwhelming.

[EconProf]

BobS
RUN, don’t walk, away from all partnership proposals. The odds against them working in the long run are overwhelming.

[EconProf]

BobS
RUN, don’t walk, away from all partnership proposals. The odds against them working in the long run are overwhelming.

[beanmaestro]

We’d be likely to go single-owner anyway because my wife and I have the lion’s share of the down payment. We wouldn’t even consider the partnership option except the people involved would probably be me, my wife, my best friend, her best friend, and maybe our double-dating couple.

So, does anyone have any thoughts on the X,Y,Z,A,B above?

[beanmaestro]

We’d be likely to go single-owner anyway because my wife and I have the lion’s share of the down payment. We wouldn’t even consider the partnership option except the people involved would probably be me, my wife, my best friend, her best friend, and maybe our double-dating couple.

So, does anyone have any thoughts on the X,Y,Z,A,B above?

[beanmaestro]

We’d be likely to go single-owner anyway because my wife and I have the lion’s share of the down payment. We wouldn’t even consider the partnership option except the people involved would probably be me, my wife, my best friend, her best friend, and maybe our double-dating couple.

So, does anyone have any thoughts on the X,Y,Z,A,B above?

[beanmaestro]

We’d be likely to go single-owner anyway because my wife and I have the lion’s share of the down payment. We wouldn’t even consider the partnership option except the people involved would probably be me, my wife, my best friend, her best friend, and maybe our double-dating couple.

So, does anyone have any thoughts on the X,Y,Z,A,B above?

[beanmaestro]

We’d be likely to go single-owner anyway because my wife and I have the lion’s share of the down payment. We wouldn’t even consider the partnership option except the people involved would probably be me, my wife, my best friend, her best friend, and maybe our double-dating couple.

So, does anyone have any thoughts on the X,Y,Z,A,B above?

[Coronita]

Money  is a great source for  failed friendships.

Did you say you would be doing this with your best friend and your best friend's friend and two couples that aren't even married?

XYZAB…too many variables  (no pun intended), especially you don't even know first hand one of them and the other two aren't even married,.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Money  is a great source for  failed friendships.

Did you say you would be doing this with your best friend and your best friend's friend and two couples that aren't even married?

XYZAB…too many variables  (no pun intended), especially you don't even know first hand one of them and the other two aren't even married,.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Money  is a great source for  failed friendships.

Did you say you would be doing this with your best friend and your best friend's friend and two couples that aren't even married?

XYZAB…too many variables  (no pun intended), especially you don't even know first hand one of them and the other two aren't even married,.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Money  is a great source for  failed friendships.

Did you say you would be doing this with your best friend and your best friend's friend and two couples that aren't even married?

XYZAB…too many variables  (no pun intended), especially you don't even know first hand one of them and the other two aren't even married,.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Author]

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