How It Works
Living Unlimited acts as an umbrella organization with the mission of starting and managing as many farms and suburban residences as possible. It facilitates the formation of like-minded groups of parents interested in a particular property or particular type of property. LU will identify and negotiate the purchase or lease of such properties; develop the project, and manage and maintain the property; and supervise the provision of services, much like a franchisor ensuring that best practices exist at each community. Each property will be owned by a limited liability company (LLC), which in turn can be owned by families or their children’s special needs trusts. For these services LU will own a small percentage of each LLC and serve as managing member.
Parents will be able to exit their investment by finding another suitable family to take their place or (eventually) by asking LU to purchase them out. As LU is able to grow the number of its community projects, the ability to trade to another LU property will be explored.
Property Owning Structure
Each property would be owned by a Limited Liability Company (LLC) with two groups of owners:
Each LLC will have an Advisory Committee consisting of parents (or special needs trustees) of the residents, with oversight responsibility and the power to make non-binding recommendations to the Managing Member on how the property and the services are run.
LU will move forward on a property, once there is a core group of founding families, roughly one-half of the total occupancy of a property. In such case, founding families may be required to have larger down payments at the start, with new members’ investments being used to repay the founding families over-subscription amounts, so that by the time a property is occupied, each family will have invested no more than their fair share of the total.
The monthly rental payments are slated to fit comfortably within the amount paid by SSI or SSDI. Naturally, living expenses will depend on the needs and requirements of each resident.
In the future, we plan to provide resident spaces for children from families with very little financial means. It is one of the reasons that Living Unlimited the nonprofit is involved in the purchasing and ownership of the properties under it’s management. Our goal over time is to find a solution for all parents and their special children.