Forum Archive: Posts by: hkrl

We’re 3 friends looking to purchase a multi-family home in brooklyn to move in and rent out the remaining apartments. We have a couple of questions:
1. We’re a little confused about the legal agreement we need to protect our individual investments. tenancy in common sounds like the most common one for our situation. does anybody have experience with that in brooklyn?
2. We’re planning on individual mortgages to leave the most flexibility for each partner. our bank is not familiar with the concept and pushes for a combined mortgage. any bank or lawyer that comes to mind that is familiar with a set-up like ours? thanks!