Friend to enter into a joint venture, do up my house, split profits

ExEstateAgent

If this friend and his partner are living there for £1K pcm how motivated are they going to be to get the place finished quickly and move out?

There's a lot of 'what if's' - what if the market crashes and he realises he'll probably be making a loss? what if he walks away leaving the place unfinished? what if costs spiral and he runs out of money? etc. etc.

tooldle

We have a friend who sold their only property to a ‘good friend’ in very similar circumstances, I.e. half the market value with a promised 50% of future resale value being passed to him, after the property has been renovated. Friend’s solicitor advised against the initial sale. Over two years later, friend is homeless and needing benefits to support themself and, there is no sign of the old property going on the market anytime soon. Friendship soured very quickly.

Chief_of_Staffy

A friend would never suggest such a scheme in the first place.