Open House Picks: Six Months Later

Houses were worth a million dollars when the banks were giving out loans with buckets. Now that banks are not homes are lucky to be worth half that. You will get a million or more for your home only if you pay a good amount of it up front and in cash. But then again if you had a million dollars you would not be stupid enough to buy a house cash seeing the price go down day by day.

There are all kinds of permutations that could work depending on your goals. The basic building block is filling the units all at once in a situation where the developer is unable to do so because no one is willing (or able) to be the “first mover”. There are ways to do this with friends and turn it into a coop. There are ways to do this with strangers and make it a purely financial investment. Don’t lose sight of the very simple principal that is doing all the work. Dress it up however meets your personal goals.

I don’t think doing this with a 3-unit building is particularly ambitious. I can think up structures that work pretty easily. Now a much, much more difficult (and rewarding?) task would be doing this with, oh, say, the Vermeil.

As I think I said earlier, some people see problems and difficulties — others see opportunity. I know where I stand. And if everyone saw these things clearly, these opportunities wouldn’t exist, would they?

“eep” — that was the sound of me being eaten. Just to clarify.

Oh, sorry, No One already made the argument quite succinctly.