All Topics / General Property / Buying out a whole street.

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  • Profile photo of Luke TaylorLuke Taylor
    Join Date: 2005
    Post Count: 415

    Hello guys,

    I have been doing some strategy considerations lately.
    I am thinking a group of people could get together and buy out a rough street in an at least a”fair” area.Therefor doing Quite well out of it themselves but restoring the community at the same time!
    I guess youve got problems with how to get rid of drug dealers etc,(any ideas?)

    Each person could buy there own propertys but help each other by increasing the condition of the whole street!
    Has anyone on the forum done this or heard any examples?


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    Profile photo of alexleealexlee
    Join Date: 2004
    Post Count: 46

    It’d be like forming an owner’s committee, right? Get the owners together, then lobby the police, council etc to clean up the street, and say you’re willing to put some money into repairing the homes, etc.

    Basically, it is much more politically involved. If you can get some reporters to make some news about it, etc to influence the council…..

    Profile photo of DazzlingDazzling
    Join Date: 2005
    Post Count: 1,150

    Assuming of course you can cajole the entire gaggle of former owners to sell en masse or in a reasonable time frame. I see this as the fatal flaw in the strategy.

    I find trying to get 2 separate parties to agree on all terms and conditions hard enough. If it involved 10 or 12 separate parties, given human beings and how they all think differently and have their own little agendas and barrows to push, I’d definitely give up before I even started.

    Profile photo of Don NicolussiDon Nicolussi
    Join Date: 2005
    Post Count: 1,086

    Keep the ideas coming … but one other problem could be if any of the vendors get a wif of the plan up goes the purchase price. ALthough I have seen this work but for the purpose of pull down and develope rather than a renovation.

    Maybe renovation would not give you the required “change” to bring the values up.

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