Investment Opportunity Of A Lifetime - Buy FranLab!

Fran we love you and your passions ... To hell with everybody follow your heart I watch you because you care. We are interested in *you* you are the content .....never stop being you and do what lights your flame ...we follow your light not your momentum

I’m not good with business economy. But is it not possible to create a fund that could own the property? Like a joint venture of sorts. I’m not talking about an crowdfunding where Fran is the direct benefactor of it and thus is liable to income taxes. But as an entity that is run by the community that supports FranLab? Surely there must be ways to set up something like this or there would be hardly any way for museums, clubs etc to procure property. I’m not an us citizen and do not have an overview of how the rules are for such things “over there”.

I'm sure if you could set up a GoFundMe or whatever, people would give you money to buy the place. Obviously you'd need a lot more money because income tax. I wonder if it would be possible to change your business structure. When I started at my previous job, the 3 owners had set up an LLC that was basically a PO Box, and that LLC owned the company I worked for, and the house (yes, house) where we worked (5 people in total including the owners). Later on, the LLC bought an office in an office complex and we moved there. That office got too small so they bought another office in the same complex and we moved again, but the previous office was still owned by the LLC. So it must be possible for even small companies to own real estate. Obviously there are plenty of people who want to contribute towards keeping FranLab going, with not a lot of other expectations in return. Hopefully enough to just help you buy the place.

Jac Goudsmit

What is the address? Asking someone to buy is interesting, but a prospective investor would want to know details.

My homeowner's insurance policy here in Texas does not cover dangerous or commercial activities that could destroy the structure. Furthermore, city zoning also prohibits those activities. A residential neighborhood has the presumption of ordinary risks for families. Chemical processing as needed in Franlab does not conform. Fran has experience with this situation years ago.

yes, can we pool resources? Id be in.

Bill Rule

I don't believe it's actually a commercial property, and that Fran does live there? So it's some sort of large apartment?

EEVblog

Is it really required to lease a commercial property? How about renting a house and using the garage as the lab? You might consider renting out the other rooms.

lohphat

The problem will be the amount. $389k is a lot, I greatly doubt any crowd funder will raise that. If there was a much cheaper option it might be quite doable.

EEVblog

I agree with what's been said above, is there a way we can pool our resources? I'd be ok for 2k or so.

David Peaker

as has been suggested, would it be possible to create an investment fund for the property? I could invest a couple of k, but nothing like 300+k

Erik Broeders

Again comes the question, why stay in Philly CBD? First hit I got was $120k for a townhouse less than 5km from Philly CBD https://www.trulia.com/p/pa/philadelphia/6360-w-montgomery-ave-philadelphia-pa-19151--2090111549

EEVblog

We put money together to give the buyer an incentive to accept a binding clause prohibiting intervention and or sell of Fran Lab. You get a lawyer, who helps You, to draft a watertight contract. You set up a go fund me, or ...give me the link of the probably already existing one;-)

I am also not an US citizen, but would be willing to donate some money. A campaign would sure be the best thing to bring as many people together as possible.

How much is the property on the market for? Can we put a fundraiser together, I am UK resident so I can't get involved directly with the purchase. I can only afford to put up a couple of thousand dollars within the next few months but if all the Patrons clubbed their investment money together surely we could make something work!

Dr Andy Hill