Just An Idea
Hi, FAM! Didn't she already blog today? Yes! So you probably are seeing this a day behind! Lol I have a business idea and I don't share as many as people think...I just have literally tons of ideas! But with this specific one, I know I need professional high skill-level input. My compassion and love for mankind bring me here and I need help!
What I want to do is take over distressed properties, refurbish them and move people in!! Of course the homes would not be totally FREE, but the cost would be nowhere near market! I know that I would need sponsors and probably legal advice on how to move forward. Say I charged $3,000 per home...a percentage would go to pay those who helped, with the balance being put toward more material, etc,.
Does anyone know what the best route would be for me to obtain sponsors or help? I know someone is going to suggest YouTube...I need to get my wig together...ladies...lol. This is certainly something that keeps me awake at night, I know what it feels like to not have a home of my own.
I researched a bit yesterday and discovered a thing called 'Adverse Possession' which basically means after a bit of searching and trying to contact the owner(s) no response was received so you basically start either moving in or upgrading as the owner of the property. I'm quite sure it's harder than it sounds.
Feedback needed and welcomed!
Audra
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Hello Audra. I need to reply to another of your actions so bear with me. I'm coming to it. At any rate,you have an excellent idea. Here is one suggestion...write a prospectus, proposal, and business plan and then meet with your city council. Pitch your idea to them in a similar manner as you have here and request their support, your city will have community development block grant funds (CDBG) that they may be willing to provide even if you developed one initially.
What about homes in foreclosure or a tax auction? Every state has different laws. Might be a way to get your own home.
Hi, love. I'm trying to help other families and those who may have incomes and are homeless. With the housing market the way it is, any person who wants to be an owner, should be. And not just the market, but the countless, empty, dilapidated, ugly, properties that many people and businesses have to see on a regular basis. We shouldn't be living in a world where certain parts are allowed to decay while others are being revitalized.
I will have to look into that because it will not be a totally 'no-cash' business, we will take money, but it will be at a fraction of the market. Good idea to even just find out if that's a possibility! Thank you. :)
Great! I have heard of a page called "Go Fund me" that people can donate for worthy causes. It may be another source since grants can take time. They have raised over two billion in personal causes for people in need.
This is an interesting idea but many pitfalls. Real estate laws can put a damper on your idea.
Best of Luck,
Tim
It sounds like it might be harder than it sounds. I'm sure there are attorneys in your state who can advise you on the laws surrounding Adverse possession. I think in New York the claimant must prove that they were in actual possession of the property for 10 years continuously. I wish you luck!
Exactly, I did a bit of research on that Yersterday. I mean the ones that are not just abandoned, but piled with garbage and debree causing an eyesore to its community.
Darn!! Well, if this grows as big as I want it to...maybe he will eventually!! :). And I still may want to skype him in for consults...don't count him out!!
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I've heard of adverse possession, but I'd be careful in that arena. Suggest checking it out with a lawyer before proceeding. I think its a legal gray area. :)
Thanks, bro. I definitely know I'll need to consult with an attorney. I just see potential there! I'd rather see people in homes than on the street! :)
It's a good thought alright. I saw a show about houses constructed of fiberglass, like boats. Inexpensive housing. Were supposed to be used for people in Haiti. Guy turned out to be a con man, but it seemed like the idea had merit. He got a LOT of investors, he just spent the money on himself!
Yeah, scammers are everywhere!! This stops/interrupts my sleep, so it's definitely something. I feel passionate about. I have a conscience, unlike some people. Lol