I’m going to do a big thing. I’m only doing one, just to see if it is possible. And I’m going to describe it here in the description so you don’t feel like I am just rage bating you and hinting at it in this post :-) I believe that a beneficial good corporation could be established that is 100% employee owned and its soul mission is to provide affordable homes to those who are earning $45,000 and less. The employees of this organization would need to earn a living wage, the trades and contractors who work on these homes would need to earn a fair price for their work. How would this work? The home would be built on “land bank” property where we pick it up for minimal amounts. The home would be less than 850 sq ft but the plans would be written in 2 phases, allowing for a 1500 square-foot home in phase 2. This would allow people earning less than 45,000 (and in some cases a lot less) to afford a home today on a single earner, invest in that home, and convert it to a valuable home as their equity grows without having to pull their kids out out of school and find something new as their family grows. The biggest catch is that the company can never profit more than 5%, and the homes will need to be built to documented and established standards. These are stick built homes, that are high efficiency, allowing someone to live in them all-in (utilities included) for less than $1000 per month. My objective would be to eliminate any high profit parties from exploiting buyers in the the process. Realtors could participate, but on a fixed basis for an amount that is a living wage for the time they invest. The company would take responsibility to provide media and materials that would allow the realtor to spend minimal time on each sale. To be clear, I will never participate in any profit on this venture, just the employees would as they will own the company. What I get out of it is the satisfaction that the next generation will have the same opportunity to homeownership that mine did. what do you think? Is someone already doing this? #
#affordablehomes#
#realty#
#worklife