Quote:
Originally Posted by winterh
"...Advantages are obviously half the cost or a nicer home than I could buy on my own but I am sure there are many things to be careful of..."
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I couldn't afford to buy our old lakefront place back
so I took a relative as a partner.
My only responsibilities are the "opening-up" in April, attaching the mooring line, the occasional soldering of winter-damaged copper piping, cut the trees back, hook the water back up, provide the firewood, replacing of any needed boards on decks- dock- and porch, the painting/staining, the electrical wiring, the plumbing, the chasing-out of carpenter ants, discouraging mice from the crawlspace, interior cleaning and dusting, make the dump-runs, fixing the occasional roof leaks, replace failed waterheaters and pumps, removing wasp- and leftover bird-nests, the seasonal leveling of the dock and driveway, do the closing-up in November, prepare boats, paddles, PFDs, oars, and pay all three boat registrations, all surveyor- and attorney-fees, all mortgage payments, all the property taxes and all the insurance premiums.
It's working out very well.
