Joe's Interest Bureau
If you have some cash sitting in your bank account earning you zero interest, well then we need to talk. One of the strategies that I use to grow my property portfolio is that I borrow money from individuals who have cash sitting on deposit earning almost zero interest. I borrow this money from the individual, the individual who is then classed as one of our lenders earns an interest rate of between 6% & 8% per year depending on the deal.
MINIMUM CASH INPUT WE ACCEPT IS €50,000
How it works
The interest gets paid every 30 days and then at the end of the 12 month term the lender gets all of their money back.
To break it down further if you lend with us €50,000 at a rate of 6% for a 12 month term you will get back every month €250 for 12 months and then at the end of the 12 month you get all of your money back.
The cash is used to purchase a property in Dublin and rented to a tenant who gets the rent paid directly to us by the state.
The added bonus of investing with us in a deal like this is that you also know you have managed to help 1 family out of homelessness.
Our strategy is normally to have a long term mortgage put in place before the end of the 12 month period at a much lower interest rate. Normally with all of these JIB type deals we don’t make any money in the first 12 months but can then make money from year 2 onwards.
Lump Sum Return
The second type of deal with do with lenders is where we buy a property to sell it on. Usually there would be a very specific reason as to why we would be buying a property just to sell it on. In these types of deals the return is usually a bit higher than our monthly return option, however there is usually no monthly return and all of the profit is returned along with the capital outlay at the end of the deal. Due to the varied nature of the lump sum return type of deals we need to ensure that any lender getting involved is well aware of all details of the transaction to ensure they are comfortable with the entire process before getting involved. These type of deals are entered in to for a period of 12 months.
We have two types of security that we offer to our lenders. If you are investing a substantial lump sum, say 120k plus, in this instance we can usually give you a first legal charge on the property which means 'your name goes on the deeds' of the property. This is the same type of security that the bank would take on a property when lending a mortgage.
If you are investing a lesser amount say 50k+ you would not get a first legal charge and you wont get your name on the deeds of the property. Your money would be secured by way of contract between yourself and our company and would be specific to the property which we are purchasing. This means at all times you know where your money is and what address it has been used on.
Getting Started With Us
If you want to get in to a deal the best thing to do is reach out to us and let us know how much you want to invest and when you want to get started.
As our 12 month terms complete with our existing lenders we always try as closely as possible to replace them with more lenders who are looking to invest at the same level. This means if you have 50k ready to go and someone is cashing out for 90k its best for us to go with another 90k lender, but if you have 50k good to go and a 50k lender is cashing out we will give you a call right away. If you are reaching out to us please let us know the loan amount you wish to make and when you want to get going as we will try and match you up accordingly as our other lenders cash out.
JIB - Joe's Interest Bureau
I suppose I better point out that we are not actually a bank or a financial institution, but it just goes to show how much we as consumers are all being ripped off by the banks if I can afford to pay high interest but the banks wont pay the savers any interest at all.
I am very fortunate to be in a position where I have acquired the skills to be able to borrow money and pay high interest rates to my lenders, to be able to offer a secure home to tenants who either were homeless or were at risk of becoming homeless. It is WIN / WIN all round and purely people helping people.
We currently have approximately 20+ lenders who have invested with us various amounts of money from €50k up to €150k+
If you are interested in getting involved please do get in touch.