Alternative route: 4 families buy 4 different apartments of a building. 4 different loans, 4 different choices of eventual renovations for each apartment. Paid, independently, by each one of the owners. The administration of the building, financially supported by the 4 different owners (in accordance with the share of the total building), decides to renovate their common parts. All these steps would have to be previously agreed by the respective families, in order to reach your common objectives. Did I make myself clear, in my poor English? Maybe you have already discussed that option.

Great progress Josh & Kallie
things to do on a joint venture project — Sometimes trust is just a way of avoiding responsibility.
Responsibility comes first.
Get everything down on paper. Get a contract in place. Get clear on what you’re actually doing.

Hopefully you don’t need it. But every now and again you do.

And the really interesting thing for me is that people feel that getting something down on paper undermines trust. Like it says to the other person that you don’t trust them.

But having everything down and clear makes it much easier to trust someone. It’s like swinging with a safety net. It frees you up and allows you to trust in the process.

When you have a clear agreement in place, it allows you to open up to your faith in others and your trust in the abundance of life. You can open up because you know you’re arse is covered.

So take the responsibility on.

Tether first, trust second.

don't let fear stop you.
progress = happiness

Very interesting, but, in my opinion, not viable. Let’s look at some questions: 1) That is like going into business with guys you do not know 2) This is the type of project where husbands and wifes are particularly involved. It is sometimes for husband and wife come to an agreement when buying a property for themselves. Just imagine what could happen with, at least, 4 couples 3) Emotions can be very important with this type of project 4)People change frequently their minds in the course of the project 5) If you face bureaucratic or technical problems, it is possible for the various couples having different opinions about how to sort them out 6) What about one of the couples having, unexpectedly, financial difficulties 7) Unexpected marital problems 8) Health problems 9) You have to prepare a complex legal document covering this type of project among so many people. That could be your first obstacle.
Sorry to give you such a pessimistic view about the project, which you did not even asked for.

What about finding out doing a tiny home village??? Way to find out more??

Interested in finding out more about vertical living. I haven't made move yet but it sounds great.

LOVE the idea of the vertical community. Do you have an estimate of what a finished apartment would cost for say a 3T?

Ohmygosh I’ve been so busy getting ready to move over there in two weeks that I missed your poll! I’m def interested in your idea! It’s brilliant and exciting! Idk if I would qualify timing wise or financially but I’m def interested in knowing more. It sounds fantastic!! 👏👏👏💓

Potential idea may be to have a corporation buy the building where all parters are equal shareholders and the corporation enters into a long term lease with every of the parters as tenants, which is essentially a coop structure (common in New York City). The corporation could take a loan for the purchase and renovation.. I would check with a lawyer in Portugal if this is possible

This concept is wonderful but definitely challenging. I hope all partners are in agreement with plans moving forward. Your vlogs are great, content gets better each time. Good luck with this project, I’m rooting for you both!

Josh, this requires lots of trust of the other investors. It is very complicated and lots of things can happen. Too many twists and turns in my opinion.

Best of luck with the project. One issue that would concern me is that inflation around construction costs has soared this year. It would be really tough to budget for major renovations with any degree of confidence. The concept seems cool, though. And you've obviously brought in a lot of smart people to help you.

Hi. J &K. I did watch one of your prior videos on planning to buy a building and didn't realize there was a pool of investors you were considering nor the poll that you mentioned in this Vlog. May I know what is the min budget (a ball park will be fine) that the three of you are contemplating on this venture (including the purchase + renovation or the final landed cost). By minimum budget i mean the landed cost to move in for an individual unit of whatever size that the group of 3 is looking at.

With all due respect you shouldn't plan as you go. You should have an established plan prior to "going." I wish you guys the best!!! Maybe you could start slow by partnering with only 2 more people. And remember to never, ever, ever buy a property you don't feel in your gutt.

Wow! Quite an ambitious and exciting project. I missed the survey before but will weigh in now. Hope it's not too late. It sounds as though everyone involved would be purchasing their apartment. Would there be any apartments for rent in the building? And would owners be allowed to sublet their units? Thanks. Love you guys.

Can I be your tenant?

I'm on the edge of my seat and so happy you are documenting this, Josh! Also enjoying the comments, so many thoughtful ideas. It's already a community!

This project sounds fantastic! Thank you for sharing.

Oi vey !!! 4 cooks in the kitchen! If anyone can do it, you guys can!

Beautiful Portugal 😍 new sub and bell ❤

Best of luck to you and Kalie, Josh! Cool concept. We’ll be coming to the Lisbon coast or Algarve, but applaud your creativity!

Excellent project! Good luck, you can do it!

This is interesting and exciting. Nothing worthwhile is easy. Looking forward to following your journey. I would suggest that you add some apartments, if finance permits, so that you can rent out to help pay loans.

Love your story telling on this series. Your channel is becoming more versatile. Wish you were doing this project in the algarves… would definitely be a 10/10. My brother and I have been searching for 2-4 unit multi family properties 20min or less from the coast. I know you guys will figure the legalities out. 👊

Very nice proyect. I´m very happy with Coimbra thanks to you guys (July 2021), I exposed the reasons. One thougt: forget elevators, mantainance of them is awful, I have personal experiences with this stuff. After 10 to 15 years new elevators are a pain in the… See you soon! 🙂

I can imagine this project would be very challenging but just keep in the forefront that it's a brilliant concept. This is a concept that I've wanted to do for years, ever since a friend of mine (and 4 of her friends) bought an old Victorian with a carriage house. They formed their own LLC and divided costs out by square footage of each of the 5 apts.. The 5 residents contributed to a monthly fund that was split into all maintenance costs (i.e. yard work, outside maintenance, insurance) and future needs (i.e. eventual roof replacement, etc) and they had to each take turns managing those funds on a yearly basis so that no one could cry "foul" and each understood all the intricacies of managing the property. Anyway, I would so love love to be a part of your venture but we arrive on the 26th and will spend our first year traveling to see where we want to settle, so timing. I wish you guys the BEST of luck and cannot wait to watch your journey on this. I bet it will turn out wonderful.

Hi! Wishing you guys all the best with this interesting project…I'd be your neighbor and join in, but 🤞for my own project in Lisbon!! Challenging, but oh, so exciting RE in Portugal!!

Hiya Josh….
As an FYI, I was chatting with a local architect where I’m at and she cautioned about the PIP option as depending how old the permits where, all could be out the window and you’d end up paying again as codes change.
🤷‍♂️

It seems you want to set up a sort of "cooperativa de Habitação", maybe that model fits what you want to do, provide housing for a comunity of several families. Check that out.

Hey Josh and Kalie, l was pleased to hear that you have chosen Porto, as my Sister and l want to move there. I wanted to ask if Porto is just full of flats to buy, or do they have houses. I would be interested to know good neighborhoods for buying a house. If you know of any reputable real estates to contact could you let me know. Good luck with your venture. It sounds cool. 🙂

Exciting stuff. Even though I don't believe the weather in the North is appropriate for me, I still wish I could be there now to participate in this. You and Kallie seem like excellent people to work with on a project like this, as well as to be neighbors with. Pick your partners carefully, and stay away from anyone who has a story to tell. You're going to have lots of unanticipated hurdles to clear. Elevators are very expensive to buy and you have maintenance costs to deal with. You may want to consider having everyone put in equal amounts of cash. Otherwise the all cash investors are taking on a disproportionate share of risk as they are also liable for the debt on the property. Be sure to budget an extra 20%-30% of the renovation budget for unanticipated renovation costs. Ignore the listing price and negotiate hard on the purchase price.

Thanks for sharing this wonderful video. All d best to u guys with your new project.

Awesome idea, Josh and Kalie. Could there be a building that may have already approved permits and approvals that may be stalled for whatever reasons you can take over (through Saavy Cat). That may push up your timelines to completion.

Hi Josh, can we take the poll again or it is fully closed. For some of us that just saw this video or those whose circumstances have changed,

You have more cheap choices near of Porto… New or for renovation.

I have to say i really love y'all channel 🎊🎉🎊👍👍👍👍👍