|RE: community financing||<– Date –> <– Thread –>|
|From: Rob Sandelin (floriferousmsn.com)|
|Date: Sat, 28 Jul 2001 09:16:02 -0600 (MDT)|
I have not heard of a cohousing group using co-investing before. I think its an interesting idea but might not be realistic because it assumes that their are community members investors with enough capital to not only secure their own mortgage but to invest in another. Also how would this investment pay dividends? Current conservative investment portfolios are drawing 5-8 percent a year. What financial return would an investor get from such a scheme? Real estate appreciation only is collectable upon the sale of the unit, not a very secure or steady income potential. I am assuming such an idea would put all the investors on the title? Or would they draw up some sort of other legal arrangement? I would be sure to consult with the bank giving the mortgage before doing this to be sure they will fund such a mortgage situation. Rob Sandelin -----Original Message----- From: cohousing-l-admin [at] cohousing.org [mailto:cohousing-l-admin [at] cohousing.org]On Behalf Of Debbi Schaubman Sent: Thursday, July 26, 2001 11:42 AM To: cohousing-l [at] cohousing.org Subject: [C-L]_community financing Greetings! Great Oak Cohousing (Ann Arbor, MI), currently in the programming phase, has been exploring ways to address affordability issues. Our Affordability Committee has gone through the cohousing-l archives, read the materials on the TCN www site (and other related sites), and haven't been able to find very much information on the specific topic we've begun to consider: co-investment. (Sorry if we simply missed the information!) We're interested in learning about other communities' experiences with this model (or ones similar to it): a group of community members invest money and buy 10% to 30% of a few units. Those units would then need a smaller mortgage, have a smaller monthly mortgage payment, and require a smaller down payment. Our sense is that, assuming some appreciation in the real estate, the investor, the household and the community would all benefit from this approach. Thanks for any information, suggestions, horror stories, etc. you can share. Debbi Schaubman (who is eagerly awaiting a Spring/Fall 2003 move-in!) _______________________________________________ Cohousing-L mailing list Cohousing-L [at] cohousing.org Unsubscribe and other info: http://www.communityforum.net/mailman/listinfo/cohousing-l _______________________________________________ Cohousing-L mailing list Cohousing-L [at] cohousing.org Unsubscribe and other info: http://www.communityforum.net/mailman/listinfo/cohousing-l
- community financing Debbi Schaubman, July 26 2001
- RE: community financing MinnMal, July 31 2001
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