Property Investment Co-operative

[andy]

Dear Friends,
We would all like to invest in property but lack either the expertise or shed loads of cash. What do we do, we go on courses or join property investment clubs and shell out large dollops of our limited funds to the suits. Been there done that and got my fingers burnt. However, I'm still interested in building a property portfolio as I firmly believe that property is a great medium to long term investment.
In the last 60 years property has doubled in value every 10 years. Given what we all know now should we have bought 5 years ago. Following on from that should we buy now for the next 5 years.
OK so lets pool our knowledge and resources and set up our own property club, negotiate our own finance deals and save some 4 to 6 percent of purchase costs by not paying finders fees, finance fees, club membership fees etc.
The initial thread for this came quite by chance as I was reading another thread within this main category, under How Good is this Course. At the end were some remarks about why not unite and approach developers direct.
Excellent idea but needs careful thought. Dan from Landlord Trader is also looking into this as this site can provide the properties to invest in.
May I suggest we look at 2 types of investment. The first based on those with the necessary funds to club together to buy a property each as a job lot within a single development. Secondly for those with more limited funds to form some sort of co-op to pool funds and purchase single properties for redevelopment for sale/remortgage on completion.
A little about me. First bought 2 years ago, overpriced and overvalued rental projections on an apartment in York. This year with a little more knowledge 5 BTLs for little to no money down using gifted deposits and 87 percent mortgages to provide cash back to cover most of the buying costs. By the way if you are experiencing financial problems with your existing properties contact me as I have a contact who buys these.
Thank you
Andy

[nicholas]

Hi Andy,
With enough people who are serious about starting a property portfolio it certainly shouldn?t be too hard.
I think the first thing we must do is arrange a meeting point for those interested in the project. I live in North Yorkshire I would be prepared to drive lets say an hour or so to meet somewhere.
Keep in touch
Nicholas