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During my lifetime, I've "mostly" lived alone. I was in a partnership early 2000's where I had an incredible loft in Bk with the person I was in an LTR with.
Living alone isn't all that it's cracked up to be. Creatively I feel kind of blue period'ish @ home. I can entertain but that's not it.
Lately I've been feeling like building with a group of people and thinking of all of the perfect reasons to. Not a commune, I know how this sounds! ..but possibly to go in on a fix-er-upper this year (or in the next 3yrs) with someone else. I don't yet have that person, or those persons.
Thinking of a 2 family home type of situation (the basement to rent out) Essentially kitchen and bath on each floor, basement included.
Can't tell you how badly I want this.
I've moved just about every year since 2004 (sad)
To be clear, I would have the entirety of one floor but essentially be in close friendship with the people who live in my home - to the point where it'd sit their kids on a Saturday night. Is this some hippy shit, does this kind of thing even happen in NY?
Just thinking of new ways that I can be in community in the city I love, and do it in a way that is responsible, and economical (where I get to continue to save, give and make a kind of investment - that would not be a debt monger but would be fully paid off in a few years)
- Has anyone done this type of thing here?
- What are the pitfalls?
- What's the things I should look out for?
What's your living situation? Was it your ideal...
...I've got so many questions.
I have 2 buddies where I'm at in MX, 1 owns a hostel, and the other helps run it, I hardly ever see the owner out of his room unless were getting drunk at night, and my buddy who helps run it is always finding excuses to get out, he comes over to my pad to watch movies with us or he's always at the beach surfing. he says it's nice to have people around but too much just drives him insane.
In 2008 there was a very affordable duplex blocks from the beach in LA my homie and I used to ride our bikes past. We joked about buying it for weeks, half serous. Had we done that, we probably would have almost doubled our money by now. We had a moment the other night, where we were deeply depressed by not taking that more seriously. I probably wouldn't still live there, but id own a piece of extremely lucrative income property right now had I done that. We would have qualified to buy when the market was rocky very early and it was under priced as a foreclosure. I'd say, if the stars align, don't hesitate. Just don't over leverage yourself so you have options.
You don't have to stay in your investment property forever. Keep your costs down, save, and buy a condo or something low maintenance next and continue building your real estate portfolio. Get new renters as you upgrade or expand to something different. Repeat.
- Thanks for sharing this shellie, the opp'ty will come up again I'm sure if it's meant to be. You raise good points. I would like to stay in the property forevernotype
- ...moving around for 14 years hasn't been healthy, want to minimize my stress :) Looking at LIC/Qns. Will keep dreaming...notype
owning property with people certainly has its issues but if it's a way into the market, then do it.
The biggest problems will come when someone wants out and the others can't afford to buy them out. hence forcing a sale. any agreement you form should focus on how exits will be managed.
although not in a shared ownership, my neighbours have become family. they have 3 little girls and they're at my place as much as at their own. dad is a doctor and mom is often scrambling to wrangle the kids on her own. along with my 2 kids (teens) the place is a zoo but great. having a community is healing. (they're moving back to germany soon and will be missed)
- Also rules for engagement re: borrowing against the property. I can see that being a collective issue to discuss beforehand.shellie
- That's the kind of thing I'm talking about Gnash. Having that community feel.notype
- just do it. let the community happen organically. just be in a space to welcome it.Gnash
- just do it. even if it blows up you've made an investment and you've learned somethingGnash
- and remember, an agreement is ONLY to be prepared for the bad times. the community will end at some point, good or bad, so it must cover the exit strategy.Gnash
- this ^ was resonant for me Gnash, thanks... i too think it'll happen organically.notype
See how you get on with a Craigslist listing .....
I currently live alone.
I'd like you to come live in my basement.
I would also really like to look after your children one night a week.
For the past few years I've been living in an art collective / commune type situation. It's made me appreciate housing and what all that means in a different way.
I, too, have the idea that this would be the best sort of future- I look at low-cost properties in spots like Cleveland as an opportunity to build a community from the ground up. I don't know how affordable that'd be in New York.
But how we live in America is a very prescribed and notional concept that often has a great effect on not only our day to day lives, but also the possibility of what shape those lives can take.
If anything, since exploring this aspect of the fringe / underground, as well as dealing with the concept and consequence of shared resources and a general sense of poverty, I have a better idea of what actual community is, than say what I've experienced in an apartment building in the past.
So, when possible, I always recommend improving social situations to incorporate more people, closer community bonds and the ability to existentially be more.
Is it weird to say that you've basically described getting married, having kids, and buying a place (or possibly living with the inlaws)? Maybe you're complicating things?