A 18-person multigenerational compound in Oakland, California
This is really awesome. Radish seems like an awesome (and delicious) place to live.
I have a question about sweat equity: specifically, it seems that a lot of it went into the project in the first year (finding the property, the great build, etc). I imagine that this sweat equity was unequally distributed, and I'm wondering if it was explicitly accounted for or compensated in any way. I know from your other post that "fairness is overrated". But still...
Thank you so much for sharing this story. It's inspirational. I have a couple of questions:
1. How are the shares valued? Are the reevaluated every year based on the worth of the home?
2. Do dividends change based on the valuation of the home annually?
3. Do you require owners to stay owners for the entire 5 year period?
I'm looking into finding a similar arrangement so this is great!
Question: did you run into any issues with the multi-unit building and tenancy laws and having the existing residents vacate to make room for your community?
oh my! this is so cool!
If its not too prying to ask, what type of mortgage are you using, what are the terms, and was it difficult to find a lender for this kind of project?
We live nearby and dream of some kind of co-housing (though to be honest, my dream would be a bunch of friends buying houses next to each other — but who can afford that anymore in the Bay Area?) — and I'd never heard of this. Just came across it in another Substack. What you all have created is so cool. Is it truly multigenerational, or is everyone there in their 20s or 30s?