@sam @beckett residents own a capital account which gets filled based upon percentage of profits, if it’s like the #EBPREC one.

Off to the #EBPREC #CommunityOwner Circle!

We got some rematriation going on over here!

@bhaugen I would check out what #CooperationRichmond, #EBPREC, #NoBAWC, #EastOaklandCollective, #PeoplesPrograms and #RepairedNations are up to before me; since they're far more active in liberating land and generating local cooperatives.

My emphasis on software cooperatives means it takes longer to make a real impact; but the latest #Convene demo shows where we are with our local partner #Piikup!

Looks like #ZTN made $300 in 2022 (ZTN is the original S-Corp I had founded when I first started #Consulting, it's what I used to incubate and launch both #Cohere and #ZincCoop; as well as to make investments in #DriversCoop, #EBPREC, and other #BIPOC-owned businesses.

It serves as the entity-of-record for 2 of my longest-term software delivery clients (9? and 5 years, respectively!) and #MomentPark.

Most of its expenses are pass-through payments to #Cohere and #ZincCoop.

I spent the day working on the most recent #EBPREC acquisition; pulling nails, hanging drywall, and just being an extra pair of hands.

Now a family of 10 has a permanent home; and I didn't have to do anything beyond choosing to follow the lead of BIPOC community members and show up when they ask and share what time, talent, and treasure I safely can.

The #EBPREC, an #Oakland-based permanent real-estate #Cooperative just bought their 4th property: https://mailchi.mp/ebprec/nov2020-13519252

Community-owned housing under the PREC model reduces housing costs by 20~30% even when purchasing property at market-rate!

I love to see tangible progress towards liberation from the oppressive forces of extractive, imperial capitalism through divestment in speculation and investment in community!

Does anyone know of any #KingCounty or #LosAngeles #Housing / #RealEstate #Cooperatives or #Cooperative Networks similar to #EBPREC?

I'm considering making strategic investments from our cash-reserves in community owned housing for Black, indigenous and other People of Color on a limited equity basis.

@anaulin The core of their model is that they cap their return to investor owners at 1.5%, which is significantly lower than commercial lending rates (~5%); or expected dividend yields for REITs (6~8%+).

The calculation I did is monthly cost to resident; so a unit in a traditional for-profit multi-family building seeking market rent of $2,300 could go for $1,725; if the building was financed at 20% via the #EBPREC's Investor Owner model.

Sampling two multi-family properties listed in the #LakeMerritt neighborhood of #Oakland; I analyzed housing costs using the #EBPREC "#LandWithoutLandlords" model for Resident and Community owned #Cooperative housing.

Without government assistance, purchasing at market rate, and putting another 20% into property improvements #EBPREC *still* reduces housing costs by 25%.

~$2.70/mo/sq ft vs the market average of $3.60/mo/sq ft.

21 unit: https://docs.google.com/spreadsheets/d/1GAcioMC-myuzLy4V8KZXYy4qJmbi91x837yjyscf_6A/edit#gid=1838079884

3 unit: https://docs.google.com/spreadsheets/d/1AVA9Dv49TgkP_WyHOGGwT2FjcsCBGWrm8apnR3tQE8s/edit#gid=1838079884

I wish I could get a gaggle of #Oakland folks together to organize buying stuff like this through #EBPREC: https://www.loopnet.com/Listing/200-Montecito-Ave-Oakland-CA/26310872/

So, we took the last couple weeks off from our #Convene Ensemble. One for self-care, and the other for #EBPREC's Community Owner Circle.

Today, we're (probably!) going to be joined by @LeoSammallahti, where we'll explore the high-level of what we're both seeing in the emerging worker-and-community-owned economy and the broader Platform Cooperative movement.

If you want to join us, we'll be on https://twitch.tv/zeespencer at 6PM PT/9PM ET.

Actually we are canceling this week and next. Been a Big Feels Day for me, and next week is #EBPREC community owner meeting so being in community there is more important :)

We're planning to support Stripe as well, especially since they have a $5 maximum charge for ACH transfers; however some of #EBPREC's transfers are for investment capital, which are excluded by Stripe's terms of service.

More progress on #Convene's payment form furniture.

Our focus has been on supporting low-fee transaction methods; so that #EBPREC can take electronic payments without paying a significant percentage of the check-amount in transaction fees.

The MVP uses Plaid to select a bank account, confirm the person is an account holder, and retrieve the account and routing numbers.

From there, their bank allows them to schedule inbound ACH transfers via a webform.

#ZincCoop #WorkLog #Coops

Super excited to be a founding investor member/owner in the East Bay Permanent Real Estate Cooperative #EBPREC

Let’s take housing off the speculative market! #LandWithoutLandlords