Cohousing-L Mailing List: Re: Investment opportunity?

[Sharon Villines (sharon]

On 10/25/03 2:18 PM, "Tom Hammer" <thammer302 [at] yahoo.com> wrote:

> We probably presently don't have the financial
> resources to secure this land before it goes on the
> open market (maybe a month at most) unless we get
> help. Do any of you have knowledge of or contacts with
> people who might like to invest in a venture such as
> ours, with the promise of a fairly high interest rate?
> We might need $200-300k of investor funds or a line
> of credit of that magnitude.

I don't have suggestions on the financing but I want to encourage you to go
for it -- finding good land is hard AND it is also the fastest way to get
households to commit. Being able to say "here is where it will be" will give
your group a great advantage and a big boost. Figure out how much the owner
wants to hold an option, for how long, and go full speed ahead.

Since interest rates are so low now, you may have a good chance of finding
an investor --- and few open market developers would want the owner's mother
living in the main house until the project gets built. You have negotiating
power.

IMPORTANT: Find a developer for your project!

Good luck,

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

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