Andy Sirkin, co-ownership expert, discusses common problems and winning strategies for sharing the purchase of a residential or investment property Types of co-ownership. A look at the different forms of co-ownership available when sharing the purchase of real estate. Common problems with co-ownership and how […]
Is the dream of homeownership still attainable? Or has it become something from another, wealthier, more equitable time and place? According to Inc.com, 89% of millennial’s surveyed want to buy a home, but 67 percent will have to wait 20 […]
Ever considered purchasing a residential or investment property with family or friends? Well, you’re not alone, lots of folks are doing it in the U.S and Canada.What is home co-ownership? Also known as a tenancy in common (TIC), allows for the fractional ownership of a residential or investment property. In other words, each tenant in common owns a percentage of the value of the entire property. Strangers, friends, and family can jointly co-own a residential or investment property.Most importantly, aside from being an established form of homeownership, many mortgage lenders now actively support TICs by offering fractional mortgages. What this means is a peace of mind regarding financial liability.Additionally, co-ownership allows you to share the down payment on a home, the monthly mortgage payments, and ongoing costs associated with homeownership.Say hello to homeownership and goodbye to being house rich and cash poor!
