House Crowd Passes Â£2,000,000 Mark
We are pleased to report that we recently passed the Â£2M investment point, proving the popularity of our investment model among investors.Â This represents a significant milestone for us as we created an entirely new way of investing in property and made it accessible to small investors.
This ability to invest as little as Â£1000 and gain greater returns than most savings accounts and pensions (not tom mention being better than the returns most private landlords get) has been central to take-up among investors.Â The focus on cash flow rather than speculating on capital growth has seen us concentrate on purchasing traditional housing stock in areas of high rental demand in Manchester.
In the last first 18 months,of trading we have purchased 31 properties, predominantly two bed terraces, and we have offers on a further two houses.
Frazer Fearnhead, founder of the company, said:
â€œI am very pleased with the progress so far. The company is growing steadily, which is especially pleasing when you consider investors had no reference point before for a company like this.
We are happy they have seen the validity of this as an investment vehicle, and to be repaying their trust in us. It is a testament to what we do that many of our investors are now investing in every project we do and bringing in friends and family.
The only problem is that we are now getting oversubscribed very quickly for each project, and are sometimes having to return peopleâ€™s money. But as problems go, itâ€™s a good one to have.â€
â€œWe generally need around Â£63,000 to purchase and refurbish a property,â€ said Mr Fearnhead. “It used to take us 10-14 days to raise that amount each time, but now it is taking just a few days.Â Â In fact, the last project took just four hours to raise Â£70,000.â€