Re: Development Phase- early participants paying less | <– Date –> <– Thread –> |
From: R.N. Johnson (cohoranda![]() |
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Date: Thu, 22 Sep 2011 09:56:44 -0700 (PDT) |
We had a similar situation. We had agreed early on that the early birds would pay 5% less than the latecomers. We ended up buying an already built apartment complex and needing to recruit buyers as fast as we could. We let go of the 5% discount idea in order to sell all the units, although the early investors still got first pick of the units. A couple of the later buyers ended up having more significant repairs to do in the units, and feel resentful because of the additional time and effort they put into their units. I don't think they have any idea of how much work was put in during the six years it took to get the community formed, especially the last six months before the sale. One of them is quite involved in the community, the other much less so. Our community was lucky to recruit several latecomers who had been involved in other forming groups, so although they had not put in the time and effort on our project, they were very aware of the commitment it takes to start a community and appreciated the chance to join a community at the last minute. They were able to jump right into the work of making our new community function because they already knew the drill, so to speak. And the two households who have joined the community in the years since move-in movers and shakers deeply involved in vital committees and the daily work of the community. Randa Johnson New Brighton Cohousing Aptos, CA
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