If you’re open for suggestions: Buy several flats that you can rent out at maintenance cost to people that need it (+ a small premium so that you have an income to live off). You can target students or other people that need a temporary home.
If you are a dollar multi-millionaire, you should be able to afford maybe 10-20 small flats, if you take an annual premium of 5k per year that gives you an income of 50-100k, and likely still lets you rent out cheap. If you prefer to not spend all your time managing rental properties, and to have normal job instead, you can hire someone to manage the rentals and bake the price of that into maintenance costs, while you live off your ordinary income.
Alternatively, I’ve heard of a “rent-to-own” type deal, where people pay maintenance cost + some sum each month, and they own the apartment once the total payment equals the price of the apartment (obviously, percentage ownership increases gradually throughout the down-payment time). It’s a deal designed to help people that struggle to get a loan into the housing market.
To summarise: With enough starting capital, you can essentially start a self sustaining non-profit that rents out flats to people at maintenance cost. If you have enough flats and take a small premium from each flat, you can even make enough money from that to buy more and help more people. By giving people cheap and secure housing you can change lives.
I made the quick estimate that you can get a small flat (i.e. one- or two-rooms) for something like 300k-600k (completely depending on location of course). 10-20 of those should then cost somewhere from 3-12 million USD. I would say that assuming “multi-millionaire” puts you somewhere in that range is reasonable.
English isn’t my first language though, maybe “flat” is the wrong word when I’m thinking of a one-room or two-room apartment that’s about 30 m^2 (325 sq. ft.)? Is that what you would call a studio apartment?
If you’re open for suggestions: Buy several flats that you can rent out at maintenance cost to people that need it (+ a small premium so that you have an income to live off). You can target students or other people that need a temporary home.
If you are a dollar multi-millionaire, you should be able to afford maybe 10-20 small flats, if you take an annual premium of 5k per year that gives you an income of 50-100k, and likely still lets you rent out cheap. If you prefer to not spend all your time managing rental properties, and to have normal job instead, you can hire someone to manage the rentals and bake the price of that into maintenance costs, while you live off your ordinary income.
Alternatively, I’ve heard of a “rent-to-own” type deal, where people pay maintenance cost + some sum each month, and they own the apartment once the total payment equals the price of the apartment (obviously, percentage ownership increases gradually throughout the down-payment time). It’s a deal designed to help people that struggle to get a loan into the housing market.
To summarise: With enough starting capital, you can essentially start a self sustaining non-profit that rents out flats to people at maintenance cost. If you have enough flats and take a small premium from each flat, you can even make enough money from that to buy more and help more people. By giving people cheap and secure housing you can change lives.
Hahahaha~hahaha sendhelp~
Edit: I kept reading. It’s 25mil, so that’s actually a reasonable estimate.
I made the quick estimate that you can get a small flat (i.e. one- or two-rooms) for something like 300k-600k (completely depending on location of course). 10-20 of those should then cost somewhere from 3-12 million USD. I would say that assuming “multi-millionaire” puts you somewhere in that range is reasonable.
English isn’t my first language though, maybe “flat” is the wrong word when I’m thinking of a one-room or two-room apartment that’s about 30 m^2 (325 sq. ft.)? Is that what you would call a studio apartment?