澳洲Australia property what are the benefits of investing alone
在澳大利亚 I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo
I have the idea that i want to invest with a partner. i think it can help re getting loans and income and sometimes 2 heads are better than one.
on the other hand it can cause huge problems and sometimes alone can be better
i'd like to hear what others have to say of the benefits and personal experiences either way.
One of the plusses can soon become a negative.
Borrowing with someone else can become an issue if either of you want to borrow separately at a later time due to a concept know as joint and several liability.
What that means is that the most future lenders will allocated the full loan liability to you, but only give you half the rent. This is obviously not good for ur serviceability.
Going through this at the moment - borrowing with my brother on one property, but on-going serviceability shouldnt be a problem.
Just weigh it up as you should any business transaction with another person.