Proptech firm launches fund to buy homes that agents are struggling to sell
In a sign of the times, crowdfunding platform Property Partner has unveiled plans to launch a fund that will take advantage of the slowing market by purchasing homes that aren’t selling.
The intention is to sell the homes for profit, at full value, at the end of 18 months.
The proptech firm will work with a range of estate agents and its own network to identify properties that can be purchased at a discount by The Opportunistic Fund and will then be improved and rented out to pay interest to investors before eventually being sold at full market price.
The fund will look for properties particularly where home owners are struggling to sell, including auction lots and those in receivership.
It will purchase homes valued between £500,000 and £2m, which it says is too large for most amateur investors.
Investors will earn 10% a year for backing the fund.
Source: Property Industry Eye
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