Would you buy a house raffle ticket?
I have been asked by a preservation organization to chair a committee working with a couple who proposed we partner to raffle their moved and rebuilt 1835 cabin. The couple and the preservation organization would share the profits; of course the lyons share goes to the couple. Without saying too much about the property, it is an excellent reconstruction. The 5-acre site is in keeping with primitive living although it has well-concealed modern amenities such as electricity, septic, indoor water, washer, dryer, vintage range, shower, and toilet. It has been featured in several national magazines as well as a (high standard) book of historic houses.
I need to see this project clearly rather than just looking at the beauty and charm of the cabins (there are two), outbuildings and property. What questions, pit falls, liabilities, benefits...you get the idea... would you be considering going into this partnership?
Thanks for your thoughts,