Real Estate Rookie Should You Buy Your First Property with a Partner or Solo? (Rookie Reply)
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Oct 10, 2025 Dive into the intricacies of buying property with a partner versus going solo. Discover the legalities of house hacking with friends and crunch the numbers for maximum savings. The hosts dissect VA loan restrictions and explore alternative strategies for solo or paired purchases. Learn about structuring ownership and liability, and how to handle tricky tenant situations. Plus, get practical tips for managing Airbnb host errors and ensuring guest satisfaction. It's a goldmine of advice for aspiring landlords!
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Reevaluate Partner Necessity
- Do question whether you need a partner for a house hack when you have strong income and VA benefits.
- Consider buying solo (or a smaller unit) to retain full ownership and simplify financing and structure.
Check VA Loan Partner Rules
- Do confirm VA loan rules before planning a non-spousal partner ownership.
- Avoid relying on a VA loan to co-own with a friend without legal review because it often requires a spouse or complex exceptions.
Formalize Co-Ownership Structure
- Do document ownership structure, liability protection, and exit plans when co-owning a primary residence.
- Consult an attorney on title (tenants in common vs joint tenancy) and plan LLC transfer when it becomes an investment.