How to Buy a Whole Neighborhood With Your Friends/Family (Co-Buying)

How to Buy a Whole Neighborhood With Your Friends/Family (Co-Buying)

Episode #962

Imagine living in a home where your next-door neighbors are your best friends or family members. We know you’ve thought about it before—starting a compound with all the people you love, everyone helps each other, watches each other’s kids, the community stays safe, and you barely have to drive! This is exactly what co-ownership homes, co-buying, and co-living can do for you! But getting a dozen or so people together to do a real estate deal can be a little tricky; that’s why we have Phil Levin, founder of Live Near Friends, on the show to help.

Phil lives in his own housing “cluster” with nineteen (yes, nineteen) of his closest friends. He believes that being near your loved ones helps you live a happier, safer, and more contented lifestyle—and we agree! There are massive positives to living in a neighborhood with your friends. We’re talking free babysitters, consistent helping hands, less driving and more walking, and, of course, being able to see your best friends almost every day of the week. But practically, how does one start building a community like this?

Phil walks through the different setups anyone can try to begin living with and around their friends and family, from co-buying with one or multiple others to starting a “minihood” and making your own part of the block, or building an ADU (accessory dwelling unit) for a close friend or two to live in. He even talks about the rising demand for this type of co-living and what developers and real estate agents can do to make serious profits from this growing trend.

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Co-Living Units Are Helping Investors Generate Higher Returns—Here’s What You Need To Know:
https://www.biggerpockets.com/blog/co-living-units-are-helping-investors-generate-higher-returns?utm_source=youtube&utm_medium=description&utm_campaign=none
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Co-Living Could Become The Future Of Real Estate:
https://www.biggerpockets.com/blog/why-co-living-is-the-future-of-real-estate?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Dave:
BiggerPockets: https://www.biggerpockets.com/users/davem27?utm_source=youtube&utm_medium=description&utm_campaign=none
Instagram: @thedatadeli or https://www.instagram.com/thedatadeli/
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Connect with Henry:
BiggerPockets: https://www.biggerpockets.com/users/henryw22?utm_source=youtube&utm_medium=description&utm_campaign=none
Henry: @thehenrywashington or https://www.instagram.com/thehenrywashington/

Show notes at: https://link.chtbl.com/BPRE

00:00 Intro

01:24 Compound Living

04:00 How to Start Coliving

07:15 Benefits to Living with Friends

10:51 “Cobuying” with Friends/Family

16:39 Huge Demand for This Housing


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