#1897 - Q&A: Should I buy a rental home with friends?
Side Hustle School
Chris Guillebeau
4.7 • 3.3K Ratings
🗓️ 12 March 2022
⏱️ 6 minutes
🧾️ Download transcript
Summary
If you want to get into rental properties, does it ever make sense to do it with a group of friends—and if so, how could you avoid the potential pitfalls?
Side Hustle School features a new episode EVERY DAY, featuring detailed case studies of people who earn extra money without quitting their job. This year, the show includes free guided lessons and listener Q&A several days each week.
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Side Hustle School features a new episode EVERY DAY, featuring detailed case studies of people who earn extra money without quitting their job. This year, the show includes free guided lessons and listener Q&A several days each week.
Show notes: SideHustleSchool.com
Email: team@sidehustleschool.com
Be on the show: SideHustleSchool.com/questions
Connect on Instagram: @193countries
Visit Chris's main site: ChrisGuillebeau.com
Read A Year of Mental Health: yearofmentalhealth.com
If you're enjoying the show, please pass it along! It's free and has been published every single day since January 1, 2017. We're also very grateful for your five-star ratings—it shows that people are listening and looking forward to new episodes. 😎 🙏🏼
Hosted on Acast. See acast.com/privacy for more information.
Transcript
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| 0:00.0 | This episode is brought to you by Slack. With Slack, you can bring all your people and |
| 0:05.9 | tools together in one place. It's your digital HQ where you can increase productivity, |
| 0:11.1 | enable flexibility and automate workflows. Plus, Slack is full of game-changing features |
| 0:16.7 | like huddles for quick check-ins or Slack Connect, which helps you connect with partners |
| 0:20.9 | inside and outside of your company. Slack, where the future works. Get started at |
| 0:26.9 | Slack.com slash DHQ. |
| 0:37.9 | If you want to get into rental properties, if you have heard about that or you've got |
| 0:41.6 | friends that are doing rental properties, does it ever make sense to do it with a group |
| 0:45.7 | of friends? If you want to get your first rental property and you don't have a lot of |
| 0:50.3 | capital, you can't make that down payment or you just like the idea of sharing the risk |
| 0:55.3 | or doing some kind of fun project with people who are also interested in investing, should |
| 1:00.2 | you even consider this? Is this something that should be totally off the table or is there |
| 1:04.6 | a way to do it and make it work? If you wanted to try it, what potential pitfalls would |
| 1:09.3 | you hope to avoid? That's what our caller wants to know. We've got a listener out there |
| 1:13.0 | who is getting ready to buy their first rental property. I don't talk about rental properties |
| 1:16.7 | of ton. I tend to look at more digital ideas, virtual ideas, things you can do without |
| 1:21.8 | spending a lot of capital, let's say. But this is an interesting twist. If you want to |
| 1:26.3 | do it with rental properties, does it ever make sense to do it with a group of friends? |
| 1:29.9 | I actually know a couple of people who have done this, so I'll try to address that in my |
| 1:33.3 | answer. Let's see if we can come up with something helpful for our listener, Calvin. His |
| 1:38.0 | question and my answer coming up in just 30 seconds. |
| 1:42.9 | When you're buried in orders and emails from stressed out customers, you'll wish you |
... |
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