Mayfair & Morgan launches Europe’s first international property crowdfunding platform
16 October 2014
Mayfair & Morgan, an international property management and investment firm, has launched a new internet-based crowdfunding platform that will enable its members to invest in residential property from £1,000 and garner long-term returns without resorting to house hunting, mortgage acquisition, tenant recruitment and property management.
Investors can put their money into portfolios made up of five properties and, unlike other crowd funding opportunities, Mayfair & Morgan has already purchased the properties, found tenants and is handling and maintaining the properties. Once each portfolio is fully financed, investors effectively own a share of all the properties in a portfolio, helping to spread any associated risk.
Tenants and maintenance contracts will be managed by Mayfair and Morgan’s experienced property agents. They will also return leftover rent to investors in the form of annual dividend payments. The portfolios are, in the main, designed to last for five years, at the end of which properties are sold and investors get back their initial investment. They also get their share of the capital growth, with yearly returns of 12% to 16% expected.
Only Mayfair & Morgan members can request access to the investment opportunities. Individuals interested in property crowdfunding with Mayfair & Morgan’s property portfolios must register at http://www.mayfairandmorgan.com before they can acquire information about the portfolios on offer. Registration, which costs nothing, does not include any requirement to invest.
“The concept of crowdfunding is not new; J Pulitzer used his newspapers in the 1880’s to crowdfund the building of the Statue of Liberty,” Paul Skillen, Founder of Mayfair and Morgan, commented. “The internet has allowed local groups to crowd fund the purchase of local property. At Mayfair and Morgan, we are allowing people to invest in an extensive portfolio of residential properties that we have already bought and, in most cases, already have tenants installed.”
He added: “People can invest in our properties no matter where they live and we pay our returns pre-tax because our investors will be based in lots of different countries and have different tax regimes.”