FAQ

A Real Estate Investment Cooperative (REIC) is a community-driven approach to real estate, where local residents pool their resources to collectively invest in and manage properties. This model empowers communities to take control of their neighborhood’s development, ensuring that growth benefits the people who live there, rather than outside investors. By working together, a REIC helps prevent displacement by keeping housing affordable, supporting local businesses with reasonable commercial rents, and creating jobs through local hiring for property management and maintenance.

The cooperative model also promotes long-term stability, allowing communities to build wealth and invest in their future without the pressure of short-term profits. With a REIC, decisions are made by those who are directly affected, ensuring that the neighborhood grows in a way that reflects the values and needs of its residents—whether that’s through affordable housing, promoting local entrepreneurs, or creating spaces that serve the community. It’s a way to strengthen the neighborhood, protect against gentrification, and create lasting opportunities for everyone.

Our membership shares are priced at $500 each. Purchasing a membership share makes you a co-op member and gives you a vote in board elections and decisions made by the membership as a whole. Members are critical to shaping the future of the co-op and its operations.

Additionally, membership shares are a long-term investment. Co-ops typically take 5–7 years to become profitable, and annual dividends on membership shares are distributed only if the co-op generates sufficient profits. Members should be aware of the patience and commitment this kind of investment requires.

No.

While the Co-Op was created and built to serve our community, one way that it is of value to its members is to help members gain wealth from their investment in each other. That means profit. We hope to offer subsidized shares on a need-based scale for as many members as possible and we hope to partner with and support other organizations , both for profit and non profit, that help to improve our area.

There are two potential ways to earn money as a co-op member:

1. Dividends: If the co-op is successful and generates profits, annual dividends may be paid out to members. These dividends are capped at 8% of the share value and are distributed based on the co-op’s financial performance for the year.

2. Share Value Growth: Shares, including non-member shares (which do not collect dividends), may gain in overall value over time. If this happens, you could sell your shares back to the co-op at a profit.

However, it’s important to understand that this is not a "get rich quick" scheme. Co-ops prioritize community ownership, long-term growth, and building a sustainable, inclusive organization. Wealth-building opportunities are secondary to the mission of fostering shared ownership and supporting the co-op’s values. Members should approach this as a long-term investment that supports the community, knowing that co-ops typically take 5–7 years to become profitable.

Membership is open to anyone who meets the following requirements as laid out in the Co-Op bylaws:

"Membership in the Co-Op is open to any qualified resident of Minnesota who is age 18 or older and who supports the Co-Op’s goals and purposes and meets the eligibility requirements. Any individual, firm, cooperative, nonprofit corporation or other corporation may become a member of the Co-Op under the terms established by the Board of Directors."

Furthermore, the Co-Op is dedicated to inclusivity and has the following sections also in its bylaws:

"The Co-Op shall not discriminate in its membership on social or political grounds, or on the basis of race, creed, religion, age, sex, disability, sexual preference, gender identity or marital status. Each transaction between the Co-Op and each member shall be subject to and include each provision of the Articles of Incorporation and these Bylaws, whether or not expressly stated as part of that transaction. "

So if you are a Minnesota resident over 18 years of age, you're welcome to become a member!