Find The House First, Figure Out The Money Later

If you've followed my blog, you know I've been figuring out my niche and/or when to take action. I'm determined to find a house that is more than a place to live in.

With life getting in the way, I kept meeting people, exploring new ideas. Instead of feeling frustrated, the time has helped me dive deeper into what kind of home I want to buy, where, and how to define my own niche.

A home should be your bank and/or launchpad for more ventures, and a space for others to enjoy, whether as tenants, or something else.  I plan to share my home with others. With that said, shouldn't they be a part of the home buying process too?

Crowdfunding

Crowdfunding is a major trend right now. If done right, you can buy the home that you want, not one you're forced to buy or have to leverage yourself to the tilt to afford. Here are some questions to ask yourself if crowdfunding or "finding first, pay later" is right for you:

Are you a public or local figure who people want to spend time with?

Do you have a major accomplishment or skills others want to learn?

Do you have a unique sense of style, design that creates a unique experience?

Make sure you get a lawyer (you need one anyway!) to make sure all the right parameters are in place before you set up your campaign.

Make Others Pay

There are "assets" you can sell to others to help you purchase a home or come up with a downpayment. Find a home (preferably, off market) you can hold for $5K or less. In the meantime, take photos, set up your crowdfunding campaign and make everyone a part of curating the experience. 

The challenge here is getting the photoos. You will probably still have the furniture there from the current owner, or an empty space. This is when you'll have to get creative to describe the experience, and explain that you want to curate the experience together with your supporters. Also, if you have a few early buyers, this will help increase the confidence of others to support your campaign.

For example, some "perks" to give away to supporters:

• Spend 1 week with Tom, a former fly fisherman and designer for Gucci for $2000 (this includes dinner with Tom, a fly fishing lesson, and a list of his favorite local jaunts)
• Live 3 weeks with Allison, a NYC ballerina for $5000 (this includes dinner with Allison, a pair of free tickets to the American Ballet Theatre in Manhattan, etc. 

Think Of Your House As a Business

You get the point. Leverage YOU.

I'm an author, a major magazine editor, and world traveler with deep, rich cultural roots. So, I have all sorts of ways to make this work. I just need the house in Brooklyn. 

By curating your home into a niche experience, you can package it and "sell" the experience for a price.  The house will eventually pay for itself.