Need help --- big time!!!

[Juan Arroyo]

I made the mistake of buying a house with a friend (50-50 deal) without doing an LLC or any type of contract. He was a really close friend. Let's say somebody who both my parents consider to be their adopted son. He lived at my house for a couple of years.

The plan was to househack for a while then flip it but we never end up remodeling. I am currently living in the house and I am renting a couple of rooms to his college friends and he got a job in Texas.

I want to cash out =  he refuses to sell the house.
I offered to buy him out  = he is not even willing to give me a price.
I asked him to buy me out = he is only willing to give me 1/2 of what the house is worth.

I thought of refinancing the house under an llc and putting under a property manager but i know he will not do it. He thinks his collage friends can mange the house for a discounted rent. I would be OK with that but after living with them for 2 years I know they will trash the place.

What are my options? 

[Kevin Sobilo]

@Juan Arroyo, talk to a lawyer. You can go to court and force him to sell the property so that you can cash out. 

Hopefully, once he realizes you can force a sale and WILL force a sale he will be more willing to negotiate a fair resolution to the situation.