First let me introduce the situation.
I am IT Consultant living in west london (currently under tenancy). I have been working here for over 4 years now and decided that it was the time to buy a house and stop wasting money on rent.
Unfortunately, there is no shariah compliant option available for me to buy a house. IBB operates here but I do not agree to it being compliant since all of their working is based on Bank of England Interest rate.
I have therefore decided to raise a capital for the house by treating it as a business. Here is a brief.
Total Value of Business (house) = Approximately 180,000 - 200,000.
Current available capital = 30,000
To be raised = ~150,000
Total capital shall be used to buy a residential property in west of London (outside). Property ownership will be shared amongst 2 or more investors based on capital provided. Each month the rent value of the house shall be distributed amongst the investors based on their respective %share.
WHAT IS THERE IN IT FOR THE INVESTOR:
1. Halal profit in shape of rent on his investment
2. investment in property is hedged on inflation and is predicted to gain value by 2-3% per year at a minimum.
3. Approx. rent for a 200,000 property is 950-1000 per month or 11,000-12,000 per annum. This is approximately 6% return on investment not counting capital gain through price appreciation.
4. Investment is fraud proof since each investor is rightful owner of his share.
To discuss more detail and to ask any questions please send me a PM. Forward to anyone interested but not on forum. Would prefer that the investor is here in UK and can be met in person.
Thank you
I am IT Consultant living in west london (currently under tenancy). I have been working here for over 4 years now and decided that it was the time to buy a house and stop wasting money on rent.
Unfortunately, there is no shariah compliant option available for me to buy a house. IBB operates here but I do not agree to it being compliant since all of their working is based on Bank of England Interest rate.
I have therefore decided to raise a capital for the house by treating it as a business. Here is a brief.
Total Value of Business (house) = Approximately 180,000 - 200,000.
Current available capital = 30,000
To be raised = ~150,000
Total capital shall be used to buy a residential property in west of London (outside). Property ownership will be shared amongst 2 or more investors based on capital provided. Each month the rent value of the house shall be distributed amongst the investors based on their respective %share.
WHAT IS THERE IN IT FOR THE INVESTOR:
1. Halal profit in shape of rent on his investment
2. investment in property is hedged on inflation and is predicted to gain value by 2-3% per year at a minimum.
3. Approx. rent for a 200,000 property is 950-1000 per month or 11,000-12,000 per annum. This is approximately 6% return on investment not counting capital gain through price appreciation.
4. Investment is fraud proof since each investor is rightful owner of his share.
To discuss more detail and to ask any questions please send me a PM. Forward to anyone interested but not on forum. Would prefer that the investor is here in UK and can be met in person.
Thank you
