rad, max.

you seem to know a thing or two about group financing. but for more info I bet you could get advice on group purchasing from this crew who is starting a community nexus in north oakland. check them out: https://www.facebook.com/theomniproject .  they recently acquired a huge lot on shattuck behind creative reuse!

i can put you in touch with one of the founding members if you like!

-dw

On Fri, Sep 27, 2013 at 1:57 PM, Max Klein <isalix@gmail.com> wrote:

Hello All,

==What?==

There is a church that has gone bankrupt, and their property is for sale.

2439 Adeline Street

Oakland, CA 94607

The appraisal value is $500k, but it is not on the market yet. (Appraisal pdf attached). So my feeling is that we can make an offer for somewhere around $400k if we organize quickly.

There are some pictures in the appraisal PDF.

I have set up an appointment to View the church at 8pm on Tuesday 1st October. I'm inviting you to come see if you want.

==Communal Buying==

There are several ways to buy the property. I am intrigued by a multi-buyer shared-equity approach. Where everybody that pays not necessarily equal amounts, owns equity in not necessarily equal amounts.

There has also been an offer of lender financing if we put $178k down.

I am open to creative solutions.

==Potential Uses==

Currently it is zoned "CIX" commercial-industrial mix. That means that officially you can only use one-third of the space for living. If we were to get a mortgage we would need a business license. Of course thought once you own it, there isn't zoning police that check what you do with it.

So we could make this into housing, hostel, a venue, keep it a church, have a tiny house village on the back bit.

Again I am open to creative solutions.

==Get in touch==

If you want to come to the viewing, please email or call me (7074787023).

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