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How to split rental income
Comments
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a0349237 said:My friend and I intend to buy a house. My friend will put 2 k for the deposit and I will put 200 k for the deposit and buying costs. My friend intends to pay mortgage contribution of 0.5 k per month, and I intend to pay mortgage contribution of 1 k per month. We will be benefiting from 1 k rental income per month.
How do we split the rental income on Month 1?You know your friend best, but I would suggest he/she is attempting to take advantange of you (specifically the 200k cash that you have).If their only contribution at the outset is stumping up 1% of the initial outlay, I daresay you should just go ahead alone.0 -
In every possible way its better to do it alone.Marvel1 said:Much easier to do it alone, you are paying £200K and he is only putting in £2K!
Don't buy with your friend. If you do, I wish you all the luck in the world. You'll need it."If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett
Save £12k in 2025 - #024 £1,450 / £15,000 (9%)0 -
dont even get involved
also a btl mortgage company would would not lend when mortgage is 1.5k and income is only 1k as they could loose money
like people have said go it alone1 -
..sounds like a disaster waiting to happen...I would not bother, way to complicated.
.."It's everybody's fault but mine...."0 -
So one party puts 100 times the deposit of the other and pays twice the monthly mortgage amount, which is not covered by the rental received? Then in addition there's the other landlord expenses and obligations that you need to comply with.
How much money are you planning to lose?3 -
..school holidays?...homework?
.."It's everybody's fault but mine...."1 -
Just don't do it!0
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seconded and agreedStubod said:..school holidays?...homework?0
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