An Offer to Property Owners: 
Do you own Single-family, Multi-family Home, Raw Land or Commercial Property?
Sell Your Property to one of our Two California Equity Housing Cooperatives

        If you would consider selling your property, one of our cooperatives may offer to purchase it from you or your business. Any offer on our part will be based upon the demand of the market for all homes in the nearby area, the current market value of the home and its assumed near-term future value. Our offer will also be determined by the status (liens) physical condition of your property and an analysis of what we may be able to do with it in the short term, depending upon zoning, lot size and whether in our estimation your home is a "tear-down", rebuild, remodel and what room there may be on the existing lot to build additional square footage into living space. We are focused on properties which we can upgrade, improve or enhance, and would likely buy properties where we can put additional living space, which most likely would include additional buildings, single, multi-family, or just a "granny flat" (depending upon local ordinances).

Offer to sell your home to one of our California Cooperatives
Working together with you on a plan that works best for both you and our organization, we can offer these:

1. * If we buy it, one option we would consider would be to improve it and resell it immediately, or keep it as part of the asset base of one of our two equity housing cooperatives. 

   1. If we decide to keep it, which of our cooperatives may purchase it is determined by how much equity you have in it.

      1. If you have very little equity, our Limited Equity Housing Cooperative may purchase it.

      2. If you have a moderate to greater amount of equity, our Market Equity Housing Cooperative may purchase it.

2. If we keep it and if you'd like, we may offer you the opportunity to stay in your home after you sell it to one of our equity co-ops. In order to do this, you'd essentially be re-investing (some or all of, at your option) your sales income back into our Market Equity Housing Cooperative. (See what our offer may consist of below).

1. Having built additional square feet on the property, either as another single-family home (Which California's  Granny Flat Law allows for [depending upon the size of the lot, per cities' zoning regulations], in addition to the original single-family home on an R-2 lot), we could make any size second or more home(s) available to another family that has or could buy membership in our buyers club and then shares in our co-op. (It is the holding of shares which gives our members  the right to occupy their own home). 

3. If we sell it, we would do so through a "quick turnaround (Short) sale" to a third-party at a discount from market price, a process which would occur in escrow. That final purchasing party would provide cash which we would use to pay you for your equity, while our cooperative would seek to gain a discount on the balance owed on your mortgage, prior to paying that off to the original mortgage holder(s).

Our offer could consist of any mix of the following:

1. For some of your equity, we would offer immediate cash (Depending upon how much cash you need).

2. For the balance of your equity, we may offer a combination of the following:

   1. Shares in one of our two cooperatives (again, depending upon the amount of your equity)

   2. A fixed annuity purchased in your name, for your benefit, consisting of a future guaranteed value, at no cost to you, and equal to the balance of your equity we wouldn't have yet paid to you, the value of which you would gain in a future year, when you cash out your annuity. 

   3. In summary, you would be gaining three times, 

      1. Once on your current equity from the sale, and again 

      2. From sharing in future equity on the future market value of your home, as well as 

      3. Profiting personally from the return on the future value of your matured annuity.

3. An offer to the company holding the existing mortgage on the property, the amount of which will depend upon the value of your property, comparables and the forecasted future value of the property. (Short Sale)

   3. This process would allow you to profit (depending again on how much equity you bring to our co-ops) determined by which of the two co-ops you belong to, or share with our other co-op shareholding members in the future value of your property and in all other properties owned by the co-op over time, determined by a formula. 

    So, how can our co-ops afford such a proposition in the short term, which will benefit you so much? 

        The "engine" that provides for this opportunity is a whole life insurance policy purchased in your name, paid by and for our co-op's benefit, essentially reimbursing the co-op for its expense from investing in your annuity.

        The fact is that we're reimbursed eventually for our costs, based upon the return from your life insurance policy, the value of which is set at equal to our costs of paying for your annuity.  

        In the short term however, we're buying and reselling other homes for cash, and even while we're letting some homes go at a discount from what we bought them at, we're using that cash flow to fund the annuity purchases for our members, and selling shares in our co-ops to other Mutual Benefit Society members who join with us. 

If these ideas sound good to you, please visit the following pages and see the kind of multi-family property we're looking for. Note that we are also looking for raw land, and commercial property that we can have zoned for mixed-use development.

Contact us for more information: Call Gary Cook (626) 940-7422 <Call for an appointment>