Buying a house with 9 friends

[WhoIam]

I lived in a house with 7 other people (renting) when I was roughly your age. Even getting bills paid was so much hassle and drama that I wouldn't suggest it to anyone. Please don't do this.

[Grasshopp3r]

Actually, buy a 4 flat and then you have two to each apt. With a 4 flat, you get phenomenal leverage under the FHA programs. One of the keys here is how you set up the relationships with your tenants --> leases are a must.

[chesspain]

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Most likely the worst idea ever.


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I was going to say the dumbest idea ever, but we're pretty close.

[ThaSaltCracka]

I thought about doing this with my brother, but even with just the two of us, its too big of a pain in the ass. CAn't imagine trying this with 9 other people.

[kibble420]

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Buy a 200k house yourself, rent out extra rooms to cover payments. That is the only way something like this can work.

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Yeah if you share ownership you only invite extra drama.

[Luckboxer]

OP, did you ever see the episode of the simpsons where bart, millhouse, and martin go in together on a comic book?

[alphatmw]

[ QUOTE ]
OP, did you ever see the episode of the simpsons where bart, millhouse, and martin go in together on a comic book?

[/ QUOTE ]are you implying they're going to get into a rainy fight inside a treehouse over ownership of said house?

[Luckboxer]

[ QUOTE ]
[ QUOTE ]
OP, did you ever see the episode of the simpsons where bart, millhouse, and martin go in together on a comic book?

[/ QUOTE ]are you implying they're going to get into a rainy fight inside a treehouse over ownership of said house?

[/ QUOTE ]

yes

[scotchnrocks]

I know four people who are doing this same thing right now. It seems to be working as they've lived there for a little over a year with not many problems. I just couldn't see it working because you need to stay for 5+ years to make it profitable, and even then any profit has to be split 8 ways. I wouldn't do it.

[Your Mom]

At 18, are you really going to mow the yard or water it or shovel snow or any of that [censored]?