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Updated almost 2 years ago, 02/04/2023
Any reason NOT to invest with a friend for first-time investment purchase of STR?
It has gotten increasingly hard to find the kind of property I want on my budget. But my friend is interested in investing and she has about the same amount to put down on a property. Together, we can double what we can afford on our own and get something people would actually want to rent.
Neither of us has experience with rental property yet.
Can someone convince me that it is a bad idea for a first-time investors to partner up? Is it better to buy a boring, "uninteresting" property that I can afford and get my feet wet first? Or, is it worth the risk of partnering with another newbie to purchase an amazing mountain property with stunning views?