"If you fail to plan, you are planning to fail."

‍- Benjamin Franklin

Welcome to the first stage in the co-buying process: Plan and Build Consensus.

Description

Co-buyers need to build informed consensus—to get on the same page—about key elements of the co-ownership arrangement. In any joint venture, alignment between parties is a hard requirement.

Why It’s Important

Getting this stage right is crucial for a smooth and successful co-buying experience. Any ambiguity or failure to align between co-buyers will result in inefficiencies, unnecessary risk, and, ultimately, costs.

The information, decisions, and other outputs of this stage inform the next steps and determine the success or failure of the co-ownership arrangement. Nail this part of the process, and other pieces fall into place. This stage is both the highest impact and least appreciated part of the entire co-ownership journey. In the wild, many folks skip planning and consensus building all together.

Realistically, many variables in life, finance, and real estate are simply beyond our control. Successful investors know this. Instead of gambling in hopes of profit, they manage risk. In co-ownership, our goal is Return on Investment of financial capital, social capital, time, and energy. So, we put on our investor hats and pull the levers at our disposal.

What You’ll Learn

There are three areas to focus on building consensus before moving forward:

1. Participation
2. Property Criteria
3. Co-ownership

You’ll gain practical insight into the collaborative decision-making necessary to assess and confirm readiness, which involves making a go/no go call about moving forward based on two criteria—eligibility and viability.

Outcomes

By the end of this section, you'll have the knowledge and tools to:

✅ Effectively communicate and align with your co-buyers

✅ Use a methodical, input-based approach to joint decision-making

✅ Use our guided template to co-create a game plan for the next steps in your co-buying journey