buying a house!
So I have this opportunity to purchase a house with my friend Beth that I was planning to start renting on August 1.
My landlord just called me a few days ago and asked if Beth and I would be interested in buying it. It is a 3 unit apartment house in W. Philly, beautifully restored, decorated, and furnished. She is offering to cover the down payment and if we are approved for a mortage we would just take it over from there. Beth and I would be the landlords and co-owners.
There are obviously a lot of questions to be answered, and we are carefully considering it. If any of you homeowners or real estate speculators out there have any feedback or advice–post away! I don’t want to leave any stones unturned as this could turn out to be the biggest financial decision of my life.
Thanks.
July 24th, 2005 at 2:39 pm
Whoa! That’s a big step. Be sure to check for radon.
July 25th, 2005 at 2:14 pm
My friend George is a landlord, I could put you in touch with him. But I say go for it! Assuming the house is radon-free, that is. Also, radiation is a thing to avoid in houses. And rats. Basically, if it starts with an “R” and has to do with houses, it’s bad. Unless it’s a roof deck - those rock!
November 27th, 2005 at 1:17 pm
As it turned out–it was too much house for us. The contractors did a crappy job on the rehab, too, so it was for the best that we didn’t buy it. I will be looking for the next year.