Hi,
By all accounts its difficult to get buy to let mortgage approval these days from the banks. At the same time, there seems to be some fairly attractive property deals on offer. For example, allsops are auctioning a house in rathmines (subdivided into 7 units) for what seems to me a fairly reasonable reserve price.
What's peoples view on forming a property syndicate of investors who each have enough cash on hand to buy without any bank involvement?
I guess there are loads of risks and also its probably hard to find people with cash deposits. But surely 3 to 4 like minded investors could form a workable syndicate given the right property, mindset and upfront agreement.
Anyone have any experience of such?
Bovis
By all accounts its difficult to get buy to let mortgage approval these days from the banks. At the same time, there seems to be some fairly attractive property deals on offer. For example, allsops are auctioning a house in rathmines (subdivided into 7 units) for what seems to me a fairly reasonable reserve price.
What's peoples view on forming a property syndicate of investors who each have enough cash on hand to buy without any bank involvement?
I guess there are loads of risks and also its probably hard to find people with cash deposits. But surely 3 to 4 like minded investors could form a workable syndicate given the right property, mindset and upfront agreement.
Anyone have any experience of such?
Bovis