...Dream of things that
never were and ask
("Domos Ex Machina Initiative")
is a private sector attempt to supplement government programs that subsidize housing for lower income individuals and families.
The Initiative is ethical investing that is structured along strictly economic lines. The participating businesses work within their normal profit margins and standards, but they forego much of their potential profits in favor of lower rents and a unique option to buy program.
Financing, construction and property management are handled by independent Rocky Roadz affiliates.
will be taking advantage of “The Tech Dividend”, the savings that result from using information technology. The methods used will include modular construction and “3D Printing”.
Those savings will enable tenants to benefit from five years of reduced rents in the row houses that DEMI will be building, and managing, first in Philadelphia and then in any metropolitan area in which we find suitable, local partners.
New and Improved
The American Dream Catcher
One tenant from each building will have the option of turning their efforts and commitment into their eventual purchase of the building in which they live.
The option holder will be responsible for basic building manager duties such as cleaning common areas and reporting any needs for repair or for tenant supervision. The remaining duties will be handled by a professional management company.
In return, each month, that individual will be credited with a $100 to $200 deferred payment toward their option. (If, at any time, they opt out of the program, or are terminated with cause, they will be paid one half (½) of their deferred payments).
This provision creates a home ownership opportunity that hadn’t existed before for a local resident.
For at least the five years of DEMI’s involvement, it also provides a buffer against neighborhood gentrification and its inevitable evictions and displacements.
If they exercise their option at the end of five years, option owners will also be credited with the value of the sales commission that would have been paid if a real estate agency had sold the property.
Even though their total deposit will be less than ten percent (10%) of the fair market value of their building, those credits, plus the individual's payment and management record, and, of course, the property's proven record of income should be more than sufficient for securing a reasonably priced mortgage.
Long in advance of that sale, DEMI will be establishing relationships between the option owner and local banks or credit unions to facilitate the transition and ensure that the buyer is well served and reasonably charged.
It's The Thought
that counts, and frequently pays off.
So we believe that every comment, every suggestion, every criticism, every idea gets us a little bit closer to our goals.
The world is filled with "Advisory Team" members that we just haven't heard from yet.
Please introduce yourself in the contact form (below). You probably know things that the rest of us can't even imagine.
DEMI and Rocky Roadz
are standards that are pledged by independent companies that adopt those brand names.
A "DEMI" is a new row house that contains specific features and is built using cost-saving, modern techniques. Building sites are chosen to minimize neighborhood disruptions.
A Rocky Road" is a transitional owner of a row house who pledges affordable rents to tenants for five years, with an option-to-buy agreement with one of those tenants. The terms of the leases and options are virtually identical for each building.
A Rocky Road owner can be a single investor, a traditional REIT or a company that uses the new "equity crowdfunding" services.