I know a couple folks have batted around this sort of idea. I am a huge fan of the concept. I spend a fair bit of time looking at real estate, and I found a building that re-ignited the idea for me. A 3 story building in the Fort Washington neighborhood of Cincinnati- former convenience store on the ground floor, 6 apartments above- $58k. Would have needed to be taken to the studs and rebuilt, new wiring/plumbing, etc. A big job, but one that could be spread over time and many helping hands.

The specific building is less important than the idea-

I've always wondered about how you'd handle the legal ownership of this. Like, do you start a 'PRF inc' non-profit and give shares to financial backers?

I would imagine you could follow any number of legal frameworks. Simplest being the coop or condo association model. Those can be run as a share of space,or time, or access. One wrinkle would be making sweat equity translate to ownership. Otherwise the people with financial means would just end up with a disproportionate share of ownership, and there would be no incentive for others to become involved.

So a couple off us buy a place. Maybe another person doesn't have a pile of cash, but can spend 3 days rewiring the basement and first floor. How do we figure out a way to translate that to access? Maybe the (in this example) ground floor venue is theirs for a week every year, and they can hold a festival, or art exhibit...Like a time share. Maybe the living space above is more like a condo? Thinking about this is almost as much fun as thinking about renovating a place.

cjury wrote: Fri Jun 18, 2021 1:22 am I found a building

You're not doing it right, you have to post a link to the listing.

Price just dropped to $39k.
https://www.trulia.com/p/oh/cincinnati/ ... l-mediaTab

cjury wrote: Fri Jun 18, 2021 11:52 pm Price just dropped to $39k.
https://www.trulia.com/p/oh/cincinnati/ ... l-mediaTab

OMG it’s beautiful. FWIW you can still find buildings like this in Chicago too. Maybe a lil more scratch. Also:

https://www.realtor.com/realestateandho ... oISR-0IHI8

turnbullac wrote: Sat Jun 19, 2021 12:36 pm https://www.realtor.com/realestateandho ... oISR-0IHI8

NOW you're talking!

The info on that page is hilarious -
2 bedrooms, but a 9 car garage?
2.5 bathrooms? How do you get half a bathroom?

Curry Pervert wrote: Sat Jun 19, 2021 2:09 pm

turnbullac wrote: Sat Jun 19, 2021 12:36 pm https://www.realtor.com/realestateandho ... oISR-0IHI8

NOW you're talking!

The info on that page is hilarious -
2 bedrooms, but a 9 car garage?
2.5 bathrooms? How do you get half a bathroom?

A toilet and sink with no shower/bathtub is a 1/2 bathroom.

Having been through all 53 pictures, I now declare that place to be f'kin AMAZEBALLS!

That courtyard could be a great space for putting on live shows, and there's lots of potential in that building.








BUY IT GUYS! MAKE THIS HAPPEN!

jason from volo wrote: Sat Jun 19, 2021 2:31 pm Just need to find $400k laying around.

Or team up with 9 other people who have $40k....or 99 people that have $4k....or any other number that fits.