A PROPERTY investment firm, founded by a Hale resident, has bought its 50th crowd funded property with money raised from investors each investing as little as £1,000.

The House Crowd, founded by Frazer Fearnhead, encourages investors to ‘crowd’ together, each providing a small amount of money to purchase a property.

Initially launched as a website in 2012, The House Crowd has raised £3.3 million to date and has grown at more than 152 per cent in year two. The unique model uses no borrowings meaning that properties are free of any mortgages and therefore the risk is substantially reduced.

Frazer said: “The crowd funding industry is in its infancy but is gathering pace at a phenomenal rate as more investors become aware of the power of the crowd to deliver superb returns while enabling them to keep greater control of their money.”