I would suggest that even if you lived in Chicago.I google mapped the breakfast joint.

Welcome to BP.I'm out here in Seoul, Korea, and I bought my first SFR in 2014 as part of a Joint Venture.

I love the JOINTLY AND SEVERALLY LIABLE INDEMNITY clause, for all of my contracts..At the end of the day, if he doesn’t want to stay, you can’t make him, but you are entitled to the remainder of the lease term rents..  

He asked me if I want to sell but with the current ROI and monthly profits we are making I think it would be unwise, so leaving me only one option to buy him out.What would you consider a good/fair buyout for the situation listed below;Purchase Price: 20KLoan: 45KDownpayment: 12KProfits up to this point: 5K (joint savings)loan term: 20 year (mind you its an arm and will adjust after next year pending we/I can get it adjusted to fixed)years left on loan: 16 yearsThanks in advance and let me know if you need more info.

You are currently jointly and severally liable.

Frank and Dave are correct in not recommending this to community owners from the perspective of large and successful community owners.There are a number of smaller community owners who benefit from joint ventures with Lonnie Dealers however.

The two parties know each other and already jointly own the property, there's no reason to have a realtor in the mix. 

Hey everyone, my partner and I are just getting started in looking to buy some rental properties. We're doing a lot of research and learning right now but we weren't quite sure how some of the things on the business s...

@Daniel MurphyWhat is your contribution to this joint venture? 

and if you and your husband file a joint tax return then that tax return reports the activity of the property that your husband is on title to.