So um. Let get this straight. Let's assume the plan works. The plan is
1) Get a bunch of people to pool together $1 million to buy say 1 house in a nice area. Ok, assuming you can pool this off.
2) Buy a home for $1million and list it for say $500k.
3) The goal of this plan is to drive home prices in that area down to $500k (say). Ok let's say this works, and prices fall to $500k.
What do you now do with your $500k loss? Dollar cost average and buy more homes???? How long will it take to recoup that loss???
I admit though, if it works, it would work out great for others buying in that area….
Heck with that approach, tell you what. You folks pool together and give me $200k cash. I'll list my home with never any intention to sell. Then if the home prices in my block falls to 50%, you guys can come to my block and buy all the other outstanding listings (there's only 1 right now.) Of course, Consider the $200k due to me as insurance on my side. If this 50% drop works, I'm roasting my own house, so I need to be able to be compensated for this somewhat. Of course, if this doesn't work, I get to keep the $200k. Sounds great for me. Want to try?
