Re: rental cohousing?
From: joyce thorn (jcthornearthlink.net)
Date: Fri, 4 Feb 2011 09:50:35 -0800 (PST)
Mayfair Village in Denver ( I wish everyone would include their location) has rentals and rent to own options. A 2 bdrm is $800 per month which is slightly lower than market rate. Purchase price is $150,000-160,000. Joyce jcthorn [at] earthlink.net

On Feb 4, 2011, at 7:41 AM, Sharon Villines wrote:



On 3 Feb 2011, at 10:43 AM, Naomi Anderegg wrote:

I've thought
about buying a small apartment building to convert into all-rental or
rent-to-own-condo-style cohousing & am wondering, quite frankly, if it would be
a good investment.

I was surprised a the conference last year how many people were there who were looking for cohousing communities — not just people who were connected and in development, I expected those — but people who had no connections at all and were relatively open geographically. On the tours they formed groups to compare notes on all the communities they had seen.

I met a woman on one bus who had joined 3 groups only to have some problem at the last minute and ending up with no group. Either she moved across country for work or they disbanded. She was currently participating in a group just to have a group but didn't want to live where they were building. She was very discouraged about cohousing because she couldn't face getting emotionally connected again and being left behind.

On the tour we saw Nomad Cohousing which has 11 units and shares a commonhouse with a local theater group. She just walked into the courtyard and had an idea — "I'll buy a small apartment complex and start renting to the people I want to rent to. In a short time, I will have cohousing. It's no fail!"

Of course, she had the money to do this, which not all of us have. And in California, there seem to be many complexes of small stucco houses or an apartment building around a courtyard that opens onto the street. Perfect set up.

When I got back to the conference building, I met a man who had been looking at cohousing only because his building had gone up for sale and he was going to have to move. He really didn't want to move. He had lived there for years and it was his community. Now it was going to be broken up. At the conference, he realized he didn't have to move or lose his community. He was talking to developers about how to finance purchasing the building himself and keep the community together.

(I don't have their names — conference-itis. You don't write down names because the people are so real you think you will never forget them or you write them down with no notes so you end up with a meaningless list of which one was that?)

Sharon
----
Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org




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