Alternative Investing, Housing Together

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Vendissimo

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First post. Read article in Sunday Times 23 Feb 20 on alternative investing with a section on investing in affordable housing. Housing Together is a company that puts local authorities in touch with investors who provide the funds to buy properties that are let and managed by the local authority and guarantee the rent. Has anybody invested in this scheme and have you any more information?
 
Article is in the Business and Money section of the ST. Here’s the link to the Housing Together site
www.housingtogether.ie

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A Unique Opportunity For Investors Seeking Capital Growth And Secure Income Government Backed Residential Property Investment Housing Together Housing Together was established in June 2018 by a group of like-minded professionals to bring together private investors and Local Authorities to
www.housingtogether.ie www.housingtogether.ie
 
I might be missing something, but is this not a case of paying a middle man to do the work? You are buying an individual property and leasing it to the local authority for 10 years?

I know there are posters here who have done such things directly, so they might comment on their experience (but there are probably threads in it already).
 
I own a house in Limerick city which I've leased to the local authority for ten years since July 2018

Have not had to spend a penny so far, inspected the house nearly a year ago, didn't meet the tenants and discovered that the council had outsourced management to a charity

Place was incredibly dirty but no fundamental problems, i do know however that councils use those long term lease arrangements to house the dysfunctional

My house cost me 72k and I get paid 850 per month so it's a good investment so far

Time will tell if that remains the case but as regards this investment "housing together"

6% isn't enough in my opinion due to the fact that the houses are so often used to house problem tenants
 
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