this post was submitted on 05 Aug 2026
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I dont think banks are friendly to handing out money to cooperatives, and laws and regulations arent exactly well established either, but if 12+ people with roughty $10k each could secure a 5% loan they could probably buy a big apartment building with room to spare. If they dont get outbid, and if the bank agrees, they could share resources, share meals, and "rent" on the loan would be much cheaper than paying a parasitic landlord. 120k is 5% of $2.4 million, and ive seen some nice places listed for that price range when I was doing the math. I forget how much monthy costs on the loan would be, obviously depended on the buildings occupancy, but I remember it was much cheaper than anything else.