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A development company as a catalyst to drive owner occupancy in a "slum"
I've been thinking about this for awhile but unsure how the exact mechanics work.
- Stability: Homeowners tend to stay in their homes longer than renters, which can create a more stable environment for families and children.
- Community engagement: Homeowners have a greater financial stake in their neighborhoods and are more likely to invest in their local communities.
- Well-maintained homes: Homeowners tend to spend more time and money maintaining their homes, which contributes to the overall quality of the neighborhood.
- Property values: There is a strong relationship between homeownership and property values.
- Local economies: Owner-occupied homes contribute to local economies.
- Safety: Owner-occupied neighborhoods can contribute to local safety.
I've identified an area that has a lot of multifamilies.
Question is what to do. I'm only barely a millionaire. But I think if I can get enough people on board it could work. Could get creative to, maybe issue shares or something.