--- The Proposal ---
Buying a property in England can be very daunting, you need a large deposit, a perfect credit rating and a lot of knowledge to make sure you are making the right purchase.
We want to create a company, "OurHouse" that will purchase a property, renovate it and then sell it at a profit.
We want this to be a journey that our funders interact with via a blog that we have setup. We want the whole process to be very interactive and we want to share everything about the whole process that we go through.
We are hoping for this project to be a great real life way to educate people about the "ins" and "outs" of purchasing a house.
Obviously the project is also looking to make a profit too!
The company we are setting up will have 100,000 shares in it to represent £100,000. We are investing £20,000 for 20% which leaves £80,000 left to be funded. So a £1,000 investment will get you 1% ownership in our company.
We would like to set a maximum number of investors to 320. This would work out to a £250 minimum investment.
We would also like to set a minimum number of investors to 50. This would mean you could invest up to £1,600.
We think between 50 and 320 investors would create a good size following who would be interested enough to be interactive throughout the process of the purchase, renovation and sale.
The idea is to spread the risk between a large number of people, provide documentation, photos, updates and open a dialogue for our investors to network with us and each other too.
Following the successful, profitable sale of the first property we purchase, we will give all investors the chance to "cash out" or leave the money in the fund to repeat the process.
So if we purchase a property for £90,000 and have costs of £10,000 and then sell it for £120,000 your shares would be worth 1.2x what they were.
--- Who Are We ---
Jamie and Sophia are directors of a web hosting company called CuroHosting LTD.
Jamie is the Managing Director with a background in web development, website hosting and online marketing.
Sophia is the Marketing Director with a background in all different types of marketing.
We currently own 2 houses which have both gone up in value over the years. We went through the same process as I described above on both of them.
Both of our families are all very well connected in the building industry so we are never short of a helping hand, a professional contracter or maybe advice on the legal side of things.
We hope that OurHouse will not only be profitable but very interesting, fun and educational for all our investors.