I have a situtation here my gf's father has offer to invest 50% in a house for his daughter. His Daughter and I would be responsible for the other half in mortage. But heres the catch the father want's half of my so-called rent. So when we sold he would get fifty percent for the equity and he would also make another profit by getting fifty percent of my so-called rent. Please help!!! I don't think this is a good idea for either my gf or myself, and that it would start riff between myself and her family. What do you guys and gals think. thanks
2007-02-19 08:29:25 · 8 answers · asked by designb1276 1 in Business & Finance ➔ Renting & Real Estate
It's reasonable to pay him what the interest would be on his portion of the equity, but no more. If the "rent" payment would cover principal too then he's taking advantage of you.
Maybe you should just get a loan from him instead.
2007-02-19 08:36:57 · answer #1 · answered by the Boss 7 · 0⤊ 0⤋
RUN AWAY AS FAST AS YOU CAN!!!!!!
It is NEVER a good idea to have that kind of connection with the in-laws. Thats like moving in with them after getting married. If you cant afford a loan, then just rent until you can. Now, if the father -in- law wants to give his daughter 50% of the cost towards a house for a wedding present and with no strings attached, then thats a different story.
2007-02-20 04:12:38 · answer #2 · answered by kimmamarie 5 · 0⤊ 0⤋
Sounds to me as though the relatives is thoughtless and egocentric. situations are particularly perplexing suitable now, so to your companion to locate a activity everywhere is tremendous. each now and then relatives isn't all that this is cracked as much as be. this is fairly unaware of them to declare you won't be able to come to the social gathering yet some human beings are purely that way. There are a pair issues i will recommend.....one million. Take them to small claims and get your money decrease back and shrink any and all ties with them or 2. purely call it a loss and nonetheless shrink all ties with them. some human beings love animosity and thrive on it. do no longer placed your new toddler by means of it. good success and that i'm hoping this helps!
2016-12-18 06:39:16 · answer #3 · answered by ? 3 · 0⤊ 0⤋
Man i dont like it i always went by the rule its ok to have your girlfriend live at your place so if something happens she has to move out . Wish you all the luck but ive had 2 wives and both of em made me move out(actually i wanted too) Sounds like to me daddy want her to have a place and really dont think yalls realationship is gonna last so he wants to treat you like a renter. My advise is too keep your own place to live and just spend the night for a year or so anyways. Good luck to You and God Bless
2007-02-19 08:42:36 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Seems that half the mortage is his price to pimp out his daugther. Do not even think of dating my daugther if you can not pay for houseing on your own.
Maybe you sould ask if you pay the whole mortage if you get his wife also.
2007-02-19 14:51:47 · answer #5 · answered by Anonymous · 1⤊ 0⤋
No because it seems like you'd make more money off of it if you just got a loan to cover the whole cost.
2007-02-19 08:37:06 · answer #6 · answered by zander1331 3 · 0⤊ 0⤋
i would not do it. ,my question is will he do it himself without you? in some way it is a helping one another situation, but who gets the better end of the stick? it is not a good idea to do business with family, more room for assumption and argument over power.
2007-02-19 08:38:45 · answer #7 · answered by Sam T 2 · 0⤊ 0⤋
don't do it
be cool...
2007-02-19 08:32:43 · answer #8 · answered by CC Babydoll 6 · 0⤊ 0⤋