News Nov 11, 2015 at 1:00 am

A Portland Renter's Quest to Save Her Home from the Wrecking Ball


Are you kidding me? This has to be a joke, right?
Sustainable also means being a financially sustainable and viable option.
2 million sure could be put to better use than someones whimsical hope of living within the same walls.
So they are seeking crowdfunding to have others buy an income producing investment property for them (the already standing 6 unit building on the land), AND she and her partner are getting all the benefit of this? i.e. they aren't offering any equity position in the properties to those contributing to the crowdfunding?

Unbelievable. Would be a great gig / scheme if you could get it though!

What they need to do is find an investor that is willing to buy the $2 mm property, move the house, and then own the full package outright and agree to rent the house portion back to them (and allow all of the people to live there) and rent the other 6 units out as the investor pleases.
That is one sweet looking house, it would be a shame to bulldoze it for a parking lot.
2 mil sounds real high for one double lot and a house. I'd say it's worth around 1/2 that.
TUrn it into a sleepover
why not seek private equity funding? If this pencils out they should be able to get a loan although it would be at probably 7-8%. Once they get the house resettled if they charge a market rate for the rooms they should easily be able to refinance down to 5%.

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