This piece is to highlight the possibility of social co-investing, and how utilising properties alongside the support of social enterprises, not for profit agencies and others- you can still see a return on investment whilst also supporting individuals and families to prevent homelessness.
There are a number of ways co-investing can occur, but in the remainder of this article we will discuss it from a 2 person perspective, with both parties looking to have a social impact as well as a profitable investment. Mortgage Mates believes Covid-19 has impacted how many people see their place in community, and that offering solutions that can help two or more parties has more capacity than may have been the case before the pandemic.
In this instance the co-investors will begin the housing process as all our Mates do.
Our Mates begin by signing up to the website http://www.mortgagemates.com.au and selecting the investment ‘motivator’ in their profile, along with some general information about themselves (e.g. existing property portfolio/experience in housing investments etc), where they want to buy and how much they want to spend. Once the Match has occurred, they commence contact through the website and look at how and when they want to meet in person.
Using the information in the ‘What’s Next’ page of Mortgage Mates, the co-investors can get clear advice and assistance on what mortgage to utilise, what property to buy and which co-ownership agreement to use. This part is particularly important as it will focus on the duration of the investment, exit strategies of the investment and the requirements they have for renting out the property. If the investors need extra guidance on where to buy, they can link into a buyers agent- a cohort of third parties Mortgage Mates is currently increasing to support our Mates purchasing power.
As with all our Mates, this is also the time co-investors should undertake their own due diligence- requesting relevant documents as deemed appropriate by each party (police checks, financial records etc).