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Updated over 4 years ago,

User Stats

13
Posts
1
Votes
Elena Nelson
Pro Member
  • Indiana
1
Votes |
13
Posts

What's fair in this partnership?

Elena Nelson
Pro Member
  • Indiana
Posted

My brother is moving to an expensive area that he can't afford right now. He would be able to have cheaper monthly payments buying a place versus renting. 

He wants to go in on a condo together. That he would be living in and paying utilities. 

My question is what would make this partnership fair? We talked about paying 10% each for the down payment and 50/50 for any repairs. What would be fair for monthly payments, taxes, insurance? 

I'm not trying to make any money until we sell it so I am not expecting rent from him. Basically I don't want to do anything unfair towards him but it's also a way for both of us to make money selling the place in a year or two. Any suggestions?

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