The most logical and well-thought-out way to buy your next vacation property
This is an awesome idea! I can’t quite figure out a way to use it to get me that penthouse apartment in Manhattan I’ve been hoping to buy, but there must be a way.
When Julie Hampton was a graduate student, she decided that she wanted to buy a small house in a remote Italian village about a 90-minute drive northwest of Florence. But she didn’t have the more than $80,000 she needed, so she came up with a plan.
What did she do?
She persuaded 60 people to pay $1,000 each in exchange for three weeks at the villa. After every person spends their three weeks in Italy, Julie will end up owning the property, free-and-clear. (Her parents kicked in most of the remainder she needed.)
No, you read that right.
This is an awesome idea, isn’t it?
Unfortunately, properties here in the United States cost a bit more than $80,000, but maybe you can find 2000 people to pay $2,000 for three weeks vacation at a luxurious $4,000,000 condo in midtown Manhattan, or maybe 100 people to pay $40,000 …
Never mind.
Complete story: Making Her Dream House Pay for Itself - By Amy Silverman, The New York Times
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