A great opportunity?
My mother and my brother a buying a house together - across the road from one of my sisters, and down the road from another. My brother suggested I go in on it too, but mum told him I never have any money (um perhaps because I'm currently paying a fortune in rent that I didn't expect to this year and perhaps it's because I'm tired of being the family bank...).
Anyway, mum just asked me just now if I want to go in on it as well. It's soooo wrong to me in so many ways that I can't even articulate right now. It's not a place I'd want to visit. It's just too close to my 'family'. I wouldn't be interested in anything to do with it, except for financial issues. But the location is prime real estate in an area that will always increase in value. Purely from an investment perspective, it's a steal (particularly with the deal the current owners have offered).
I have to make this decision in the next couple of days.
What to do???????
Anyway, mum just asked me just now if I want to go in on it as well. It's soooo wrong to me in so many ways that I can't even articulate right now. It's not a place I'd want to visit. It's just too close to my 'family'. I wouldn't be interested in anything to do with it, except for financial issues. But the location is prime real estate in an area that will always increase in value. Purely from an investment perspective, it's a steal (particularly with the deal the current owners have offered).
I have to make this decision in the next couple of days.
What to do???????
posted by E in Oz at 3:36 pm
these thoughts escaped my brain at 3:36 pm
4 Comments:
Well, I would hate to advise you and have it backfire, so I'll just say my own rules for self.
1 Do not get into any financial arrangement without all parties involved signing papers on it.
2 Do not get into any financial arrangement if you can't afford to lose what you put into it
3 Do not get into any financial arrangement with family if you want to maintain friendly relations unless it's last resort
But I know you'll make the right decision for you. Your circumstances and mine are not the same :)
hugs
no, no, no, nix, nix.
Yeah, be careful. It it all goes tits up, it could pnly cause more family problems...
One more "nay." Heck, I don't even want to rent property to my family... and we get along pretty well! Don't take the "mum told him I never have any money" bait. Never, never, never!
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