The Co-Own Company

The Co-Own Company was formed to develop, sell, and manage co-owned housing in urban and university neighborhoods, on well-located infill sites.

The Problem

• Millennials cannot afford to purchase housing in urban centers.
• Traditional suburban housing is boring, undesirable and lacks connection.
• Renting in an urban center is expensive and does not build equity.

Our Solution

• Shared equity co-ownership of new units.
  
• Urban, high-tech, net-zero energy design, close to transit, shops, restaurants, and schools.
  
• Easy and hassle-free onboarding.
  
• OWN beautiful, new, urban, net-zero energy housing for a payment that is less than rent for similar housing.
  
• Homes are sold with co-op ownership shares, which can be re-sold at market rates at any time the owner wants.
  
• Homes have functional private space and high end shared amenities.
  
• Co-owners can borrow up to $10K of their share down payment from us and roll it into their monthly fees – the cost of entry is the same as renting – but with equity.
  

Competitors

Urban Single Family Homes: way too expensive, aging rapidly.

Traditional Rental Housing: expensive, impersonal, no equity.

Co-Living Rentals: no equity, too many residents per building.

Subsidized Affordable Housing: low income caps, inaccessible, limited equity.

We believe we are building the best nationwide, scalable, for-profit shared ownership housing in the country.

Our team has experts from many fields which will enable us to launch successfully (please see team profiles).

We are raising $1,000,000 from non-accredited investors and a remaining $9,500,000 will come from accredited (high net worth) investors.  The $1,000,000 Wefunder "Go To Market" raise will be used to pre-sell and build one "Single Family Home" model in Denver.  This model can be built across the United States and we believe it to be a market disrupter upon introduction.  

The $200,000 minimum of the "Go To Market Raise" will be used for Pre-Development costs (architecture and various engineering fees) of $95,000 (47.5%), Fees (for legal work to set up the Co-Operative and organizational documents) of $37,500 (18.75%), marketing and selling shares of this co-op house to the public of $28,100 (14.05%), a deposit on the land of $10,000 (5%), and financing fees for the construction loan of $14,400 (7.2%).  Additionally Wefunder collects a 7.5% fee of $15,000.

The additional $800,000 will be sufficient 'equity' to obtain a construction loan and build out the project.  The money will go toward more Fees of $25,000 (3.125%), some Marketing $820 (.1%), the land $596,000 (74.5%), building permits $55,000 (6.875%), and construction loan costs of $63,180 (7.9%).  Wefunder collects a 7.5% fee of $60,000.

These are our best estimates, and of course we cannot guarantee any specific cost.