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Buying property with a family member or friend can be a terrific idea. Family and friends can be more reliable than simple business partners.  However, you also want to protect yourself when investing with family or friends. Make sure it’s clear which expenses each of you will cover.  Make sure you know how each of you will help maintain the property. More importantly, clarify how you’ll split the profits. To make sure that you’re protected, you may want to consult an attorney. Find one who is familiar with investment partnerships among family or friends, or contact a Chicago area SourceOne Realty office 800-498-0967. 

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