Yesterday after 20 years was the great day! My daughter moved out of the house to live on her own. Rather than renting from a unknown landlord, I set up my first JV with her. She gets 25% of the profits on the apartment we bought (I did the money part) in return for her managing it (i.e. getting a roommate, paying the utility bills, keeping the place clean). Of course she pays rent for her half of the unit, how else can she call herself indepedent?
She was an active partner during the purchase and selection process and we have found a cute 2 bedroom, top floor, apartment surrounded by shopping centers, a nearby LRT station and 2 stops away from UofC.
The bad news is, I have a sore back from all the furniture moving. Boy, I did not realize how much stuff she had accumulated. Best of all, even her mother (my spouse) thinks the apartment is fine!
She was an active partner during the purchase and selection process and we have found a cute 2 bedroom, top floor, apartment surrounded by shopping centers, a nearby LRT station and 2 stops away from UofC.
The bad news is, I have a sore back from all the furniture moving. Boy, I did not realize how much stuff she had accumulated. Best of all, even her mother (my spouse) thinks the apartment is fine!
