Quote:
Originally Posted by Varius
If he missed 5 months payments of $500/mth without very good reason, violating the agreement, he definitely doesn't deserve anything back. If his portion already-invested was that important to him he would have found that $500 per month - borrow from another friend, have a few less restaurant/bar trips per month, etc... It's not like we are talking thousands here. Sounds to me like he took your "friendship" for granted and expected even if he let his payments slide you would cover his end. Which I suspect you may have done had you not hit your own money problems.
It was a business deal and you always need to keep business and personal relationships separate. For those who say it is hard, it isn't; I have done business for years with friends and keeping the two separate isn't hard at all as long as one "friend" isn't just using the other.
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I don't get why he stopped paying. Was it because you weren't paying your share either so he figured, whats the point? If his failure to pay was his own issue then he would of lost the property if he had gotten a loan from the bank anyways so there is no reason why you should have to pay him back when its partly his fault for lack of payments in the first place.