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The risks of investing in properties with other people
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Those who want to purchase properties jointly should always discuss the exit strategy, such as what happens if one co-owner wants to bail out.
PHOTO: ST FILE
SINGAPORE - Many people think that it is a good idea to pool their resources to buy an investment property as it spreads out the cost of an expensive asset, but there are pitfalls aplenty in such an approach.
The key consideration is an exit strategy, even if you are making the purchase with relatives or good friends. This is because unlike shares, which you can easily offload in the stock market, a property sale requires the consent of all owners, and this can become tricky if one party disagrees.
