Next time you fancy spending a tenner on a KFC bargain bucket, five Lotto tickets or a trip to the cinema, you could think twice and buy a slice of property instead.
Property crowdfunding platform, Property Moose, has slashed the minimum price of investing in its properties from £500 to £10. It means that if you can’t afford to buy a property – or you’d rather take more of a risk with your savings – you can put a little spare cash into the property market.
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Current deals on Property Moose’s website include a five-bed, tenanted house in Nottinghamshire for £163,000 and a two-bedroom house in Greater Manchester, priced at £77,000.
Andrew Gardiner, founder of Property Moose, says: “We wanted to give everyone the chance to invest in property, whether they have £10 or £100,000. You could use that £10 that you find in your jeans’ pocket on a takeaway or a couple of coffees… or you could invest it in property, watch your property portfolio grow, and potentially earn a return from month one.”
Property crowdfunding platforms bring investors together to buy properties for the buy-to-let market or development projects – but remember, property prices can go down as well as up, so you shouldn’t invest more than you can afford to lose.