Would you like the opportunity to buy a £160,000 house for £100,000?

My grandad has MS and is struggling with the repayments on his house. He took on a very high interest mortgage and now is paying way over the odds. He is looking to sell his house but needs a quick sale and would ideally like to rent it back. I was wondering if any people on this forum would be interested in buying the house as part of a group, for example, 4 people chip in £25,000 each to buy the house for £100,000 just to pay all the debt off. As i said this house is worth £160,000 and next door sold last year for that price. I believe in another year or two the price would go up even more. In the mean time my grandad would be willing to pay £500 per month in rent to the group, so thats £6,000 a year, so return on your investment would be 6% per annum. I will sort out all the legalities. I have experience of shared ownership schemes.

Please let me know your thoughts. If you are not interested, do you know anyone that might be interested? If £25,000 doesnt sound right then more people would like to spread the risk? For example 100 people invest £1,000 each. In 5 years the property will be sold at full market value and the price split between the investors, making you a tidy profit aswell as the annual interest.

Please contact me if you are interested and how much you have to invest and i will give you a call.

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