Cool house for house parties?

[Maver1ck]

Guys,

I see a whole lot of talk, and not much action.

Why don't we start small. organize some parties (at whoever volunteers) at some apartment club houses/ pools. And when we have some successful parties under the belt, then we can go for this fraternity thing.

Let's go by evolution not revolution! (which is also great, but nobody wants to pay huge amounts of money for this!)

Why don't we see who wants to volunteer their nice, cool place for a party
Set a date for the party, invite some hotties, and go from there? !

[Technology]

I like the idea as well, we also need people to furnish the place, so we can have somewhere to sit, tv, stereo, table, etc. I am down to pitch in!!

[xhaloz]

I'm also down to pitch in for Project Dallas...... someone should make a list of everyone that is down to pitch in and we can get some shit started...... time to start walking and stop talking

[Temple]

This is a great idea, I hope it comes to fruition for you all

[boyracer]

Ok, I'm going to throw this out there and see what happens....

My lease is up at my apartment in 2 months. Although I love it there, I'm thinking, for what I pay in rent, I could get a nice house. After reading this thread a couple of weeks ago, now I'm thinking... Project Dallas!!!

So here we go!! If I just have 2-3 people who are interested... I'm thinking a 4 or 5 bedroom party house.

I'm going to start looking within the next two weeks. I was thinking the Uptown / Greenville / M streets areas.

Who's serious about this? And if you are, let me hear your suggestions.

[Sage]

Alright, so my lease is going to be up sometime 3/08 and I may be looking at temporary or permanent (permanent meaning 1 year) residence, depending on what the roomies do. I would love to buy a massive (7br+) house, but I'm not sure if I can talk the primary DNA donor into it. If I can talk dear old mum into it then I would be willing to make it a Project and rent out the other rooms. Otherwise I'd be willing to consider signing a lease on a similarly sized place for the same purpose. There are some very reasonable leases for large homes, BUT the problem would be convincing them that we are responsible. Also, University Park, my preferred location, now has a law against 3+ unrelated people living together (to prevent "houses prostitution" but really aimed at SMU students).

[Solace]

Alright, so i just found this post and i basically skimmed so pardomn if it sounds like I am repeating.

1. Rent a massive house between 8-15+ guys.

- the project will take at least a month to get off the ground
- decorate each room one at a time and everybody chips in and we create a diff env. in each room

- everyone gets a key and the house could be used as a pull spot away from home. We need a central location.

- Nobody lives there!!!!!!!!
- problems of order, cleanliness, and boundaries will arise if we have residents. The party house would have unhealthy effects upon the mind of the inhabitant.

- cleaning, stocking, and utils would all be a group effort.


We would need a company name to go on the lease so each individual is not held fully responsible, howeverit shouldnt be too difficult to fill a spot if someone falls off the bandwagon.


I would be down to spending a bout 100 dollars a month on a place.

[Sage]

We would need a company name to go on the lease so each individual is not held fully responsible, howeverit shouldnt be too difficult to fill a spot if someone falls off the bandwagon.

This is an important problem that is comming up, and I've put some thought into it. I doubt everyone would be willing to join as general partners and accept full responsibility for all liabilities incurred by the partnership, so a limited partnership would be more desireable... except we'd still have to get someone willing to be a general partner. We could, of course, start a corporation BUT that starts to get really complicated. Most likely, if we went that route, we would want to go with an LLC. I really don't have that much knowlege wrt incorporating a business such as this because all of my businesses are sole proprietorships or trusts. We would need someone more knowlgable to get onboard, and even then there are many issues that will come up.

Thats why I feel the easiest way would be for one person to purchase a home (or possibly lease) and then rent (or sublet, provided the lease contract permits it) the other rooms out to other occupants. Alternatively, only part of the home could be occupied and the remaining rooms could be made available to those who pay a membership fee. The owner / lessee would be the manager of the home and would handle billing for membership, decorating the home, keeping it clean, etc. The membership fees would thus have to provide sufficient funding for maintenance (yardwork, maid service, etc) in addition to rent and also supplement the income of the property manager for his time and risk. I'm sure that anyone willing to take on this position would also require an enforceable contract for membership from several people before assuming such a large liability.

At this point, I'm thinking that I'd like to do it at some point, but right now really is not good. Furthermore, I'm not sure if I am willing, at this time, to allocate the funds necessary for a down payment on a 7-figure home because it's very a very risky venture, and to be honest I'm not exactly positive my credit history and verifiable income would really facilitate such a purchase. I'll have to think about it in the coming months, and see if there's a way that I could make it work. Also, mom is probably NOT and option at this point. Still, I can see a very high ROI if things actually worked out.

[Sage]

After some further thought and searching MLS listings, I have decided that it may be a wise idea to start small. That could be a lot more doable. Say a 4br, one full-time occupant. Doesn't have to be tremendously fancy, but definitely a 2-story home would be desireable (makes it feel larger and more impressive). The idea would be that we pay more than enough to cover the costs, and at some point sell the property and buy a larger, more lavish home. This leads me to reconsider a partnership. If some or all (but probably only perhaps 3-5 people) would be willing to provide a large enough initial investment to secure a reasonable home, it could work out.

I'm still against incorporation because I am thinking of the nightmare it would be going through the runaround trying to secure a home loan as a brand new corporation whith essentialy no assets.

edit:
anyone seriously interested in my proposals and thinks they might want in on a partnership, I can have a meeting at my place to discuss.

edit2:
I'm feeling something like this...
http://www.briggsfreeman.com/mls/search ... =10791774#

Not right off of greenville, but very classy and pretty damned cheap! Of course, that one is not going to be the one I buy, but its to give a good idea of what I have in mind. Feedback? Oh, and master bedroom would NOT be occupied by manager, it would be on a first-come first-fu... er serve basis.

[Afterlife]

Wait are you guys talking about buy or rent?


Check this in lower Greenville
http://www.rentalhouses.com/view_listing.php?id=154853