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They are both secure and have jobs that will travel anywhere. Very good! Still, if local business crashes and the flow of new stupid people with money peters off, the end result will be the same. There will be no new buyers when they want to move. It could be a huge loss for both of them.
Unmarried? Another consideration on his behalf is structuring the purchase equally so they both can feel secure. I know it sounds crazy but stuff happens and things can change. Maybe through a partnership with buy-out clauses and obligations when/if their relationship or situation changes.
Two young people that jump into a huge investment together is a big grey legal area. Do the research. Different states have definitions for common law marriage and result in unequal automatic judgements. Protect your son, and his girlfriend. Sex and money are the breakers of relationships. Get it set up beforehand. Her reaction may be revealing. Is she capable of adapting to new criteria which would protect her boyfriend or inflexible?
When times are 'tumultuous' people panic and automatically want to 'do something'. It doesn't matter what that might be. The pheasants get flushed out of the field where they were safe(r).
Don't give in to panic. Be strategic.
Never fall in love with a property. Another one even better will always come along.
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Meanwhile other things are still happening.
Last edited by john70t; 05-05-2023 at 08:22 AM..
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