Cohousing-L Mailing List: Re: Investing in Cohousing

[Elizabeth Magill (pastorlizm]

As someone who invested in cohousing from 2002 to 2009 in a wonderful
project, I have a wonderful home, mosaic commons cohousing is a
wonderful community.

AND all the investors in our project who didn't buy homes lost all
that they invested, and those of us who bought homes also lost a hunk
of what we thought were deposits on our homes, and paid peak prices in
a market that had already tanked.

What is the strategy for such a fund to work in times of economic distress?

-Liz
(The Rev. Dr.) Elizabeth Mae Magill
Mosaic Commons Cohousing in Berlin, MA
www.elizabethmaemagill.com
508-450-0431

> Greetings Everyone,
>
> Before the financial crisis of 2008 I was a partner in a company called
> Support Financial Services that raised about $750k and provided bridge loans
> to over a dozen cohousing communities under development.
>
> Until the economy stalled and all construction abruptly stopped, we had been
> successful in helping the projects we invested in reach the required deposit
> limits placed on them by their banks. Investors shared in the profits
> generated by each project and for the most part all went well. Unfortunately
> the 2008 meltdown through a serious wrench into that system and several
> projects where halted by the weakness in the economy and the inability of
> many cohousers to sell their homes and move their projects.
>
> Now some 14 years later, it might be time to reactivate a similar fund.
>
> I would be interested to hear your thoughts.
>
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