Wednesday, August 31, 2005

How to invest in property for as little as £1

Wednesday, 15 Jun 2005 12:21

People wanting to invest in property can do so for as little as £1, after the launch of Opromark, an online property exchange.

Investors can buy stakes in any of the properties listed on the market, and are paid a share of the rental income made from the property as well as benefiting from rises in the value of their shares.

The exchange was created by Andrew Black, founder of online gambling exchange Betfair - which is now believed to be worth as much as £100 million.

'Opromark opens up the buy-to-let market to a broader range of investors, including those struggling to get on the housing ladder, by making the minimum investment £1 and ensuring that investors can diversify their investment cost effectively across a range of residential properties,' said Opromark chief executive Stephen Kenny.

Opromark offers several advantages to traditional buy-to-let investing.

These include the ability to spread risk across a number of diverse properties, the fact that there is no mortgage cost to the investment and so no interest rate risk, a dedicated property professional to manage the property and its tenants, and the fact that investments can be made for as little as £1."

I haven't looked into this one but it seems an interesting idea. As for the disadvantages, check out how you can get your money out; also be aware that only part of the rental income is paid out as a dividend - the remainder is absorbed by costs. I could see this working in a booming house market, but today...?

Chris

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