Editor's note: this particular example of co-buying real estate is not one that is particularly in-line with our cooperative principles on a couple of points; namely using a "one dollar, one vote" model for making some important decisions, rather than "one member, one vote," and starting the project with a plan for eventual demutualization after a fixed period of time. The first means that this project has a "benevolent dictator" element to its structure, and the second ensures that this project will do nothing to remove housing from the speculative market, which is something most housing co-ops attempt to do. Despite this, the Radish gives a useful example of the variety of different ways joint purchase of real estate can happen, and may contain some useful information for those creating actual cooperatives. ~Josh D.
[Note: I gave a webinar on this topic in July. You can find that recording here]
This is a long and detailed post for a very specific audience.
The audience is people who will soon go through the process of co-buying property as a group.
A more accurate description might actually be “a process” rather than “The Process.” There are a lot of ways to go about this. Here is simply one that we think works well for most people in most situations.
We’ll use Radish - our co-bought property in Oakland - as an illustrative example throughout this post.