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| Scott McKinnon (left), Cole Flynn (middle), and Stefan Gollisz (right) co-bought a house together in their early 20s. Courtesy of Cole Flynn |
For many young Americans, buying a first home before the age of 25 feels nearly impossible. Rising housing prices, high interest rates, and the need for substantial down payments have made solo homeownership a daunting goal. But for three longtime friends — Cole Flynn, Stefan Gollisz, and Scott McKinnon — the solution wasn’t to give up on their dream, but to take an unconventional route: pooling their resources and buying a property together.
The three friends, all in their early twenties at the time of purchase, closed on a $357,500 home in Tampa, Florida, in August 2023. They formed an LLC, split the costs evenly, and created a plan to turn their investment into a long-term wealth-building strategy.
From High School Teammates to Business Partners
Flynn, now 26, and Gollisz, 25, went to the same high school as McKinnon, 25. While McKinnon was a year younger, sports kept the three close, and their friendship continued well beyond graduation.
“We all studied economics and finance in college,” Gollisz explained. “So, we already had a decent understanding of markets and investments.”
After college, Flynn and Gollisz began working at a wealth management firm in Long Island, New York, advising clients on asset allocation, portfolio management, and financial planning. McKinnon became a consultant at Deloitte. The trio often discussed investment opportunities, and real estate was always high on the list.
“We each had some money in the stock market,” Flynn said. “But none of us had enough for a property on our own. That’s when we realized co-buying could make homeownership possible for us.”
Making Homeownership Affordable Through Co-Buying
Buying together meant splitting not only the down payment but also the ongoing costs of ownership. They decided to form an LLC, a move that simplified co-ownership and avoided some of the complications of securing a traditional mortgage with three unrelated buyers.
With guidance from a lender, they agreed to put down 25%, totaling about $90,000. By splitting it evenly, each contributed roughly $30,000. Living with family after college allowed them to save aggressively, and their existing stock investments helped cover the rest.
The property they chose — a three-bedroom, three-bathroom condominium in a gated community with amenities like a pool and gym — was strategically located near the University of South Florida and close to downtown Tampa. This gave them flexibility: they could rent to college students or professionals depending on market conditions.
Finding the Right Property From Afar
Buying a property in Florida while living in New York required help. The friends partnered with Nestment, a platform that helps groups of buyers invest in real estate together. Using the platform’s market analysis tools, they narrowed their search to Tampa, then relied on an agent introduced by Nestment to conduct virtual showings via FaceTime.
Nestment also assisted in forming their LLC and connecting them with lenders. “Before this, I didn’t know how to find a lender, set up an LLC, or even where to start in a market so far away,” Flynn admitted.
Early Challenges and Lessons Learned
Between November 2023 and November 2024, the property was rented to a group of military-affiliated students for $2,100 a month. However, with a monthly mortgage payment of $1,898 — not including other expenses — there were months when rental income fell short by about $200, requiring each co-owner to contribute a small amount to cover costs.
“Operating at a slight loss actually had tax benefits,” Flynn noted. “And we’re optimistic about long-term appreciation in the Tampa market.”
One major expense came when they had to replace the entire air conditioning system for $7,000, which they split evenly. Despite these costs, the friends view their investment as a 30-year commitment, planning to refinance when interest rates drop to improve their cash flow.
Clear Roles and Organized Finances
Running a property as a team meant setting clear responsibilities from day one. The trio opened a dedicated bank account under their LLC, linked to their financial apps for transparency.
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Scott handles tenant relationships, rental agreements, and any complaints.
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Stefan is responsible for making the monthly mortgage payments.
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Cole oversees maintenance and repairs.
They track every expense in a shared spreadsheet, settling up every few months. “If I cover a repair or Scott pays for a project, we log it and balance things out,” Flynn explained.
Why Co-Buying Worked for Them — and Could Work for Others
The arrangement has strengthened their friendship, even with Scott now living in Tampa. “Buying alone is intimidating, especially when you’re young,” Gollisz said. “But with friends, it feels achievable.”
The three plan to build equity in this property, then roll it into another investment in the future. Their long-term vision is to create a small real estate portfolio together, supplementing their primary incomes while building lasting wealth.
They also credit their success to trust, communication, and a shared work ethic. “We knew this would be a long-term partnership,” Flynn said. “We trust each other to handle our roles and to put in the effort when it’s needed.”
Advice for Young Buyers Considering Co-Ownership
For Gen Zers looking at the housing market and feeling discouraged, Flynn and Gollisz offer a few takeaways from their experience:
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Leverage Your Network — Friends or like-minded investors can make the impossible affordable.
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Use the Right Tools — Platforms like Nestment can simplify market research, legal setup, and lender connections.
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Stay Organized — Separate finances through an LLC and track all expenses in writing.
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Be Ready for Surprises — Unexpected repairs and vacancies are part of real estate investing.
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Think Long-Term — Focus on appreciation, not just immediate cash flow.
From high school friends to business partners, this Gen Z trio found a way to break into the housing market years ahead of most of their peers. With a shared mortgage, a clear plan, and a focus on the future, they’ve turned a friendship into a real estate partnership — and they’re just getting started.
