Looking for partner(s) to buy a townhouse/brownstone

bstoneprowla

Hi,

We're a couple looking to buy a brownstone/townhouse in this area or possibly Ft. Greene / Clinton Hill. Up until now we've been looking for 2 bedroom co-ops or condos but haven't found much that we like. It occurred to us that if we found another person/couple we might be able to own a free standing building with much more appreciation value and more space and privacy. So, here's a bit about us...

combined income of $132,000
both credit scores in the 700's
about $50,000 to put down
She's a lawyer for a medical worker's union
He manages after school programs
We'd enjoy working on a fixer-upper as long as it doesn't have any major problems.
We're not looking for new best friends. We're looking for business partners who are stable, sane, and not pretentious or supremely annoying.

We've just started to research this, but it seems like the thing to do is create a LLC, buy the building as a company, and then create a co-op. While this sounds like a bureaucratic hassle, the thought of owning and living in our own building makes it worth it.

If you're interested, reply to the board and we'll go from there.

thanks.

anonymous

This is a terrible idea. Plus, 50,00 is WAY less than half of a downpayment, so you are dreaming I think

gc

Not sure it is as "terrible" idea, but I may be biased - I am in the middle of doing exactly what you propose in Carroll Gardens. Only difference is we plan to go the condo route rather than coop.

anonymous

Is this a joke? You want to buy a house with strangers you met through an Internet message board?