It is becoming increasingly difficult to share with you all the P2P industry news and insights in a calm and reflective manner. In order to provide you with an overview of what his currently happening with European P2P platforms, I will try to collect as much information as possible in the quicker and more efficient manner. I welcome all constructive criticism on how to make this work better for you in the future.
EstateGuru
EstateGuru reported record volumes of loans in August, with over €10M worth of loans being issued through the platform.
The first German project’s loans were repaid to investors before maturity (€2,0M) and one of the largest defaulted loans was recovered. During August, borrowers paid back 64 loans in the amount of €10,2M and the return rate of repaid loans was 11,3%. Furthermore, EstateGuru’s investors have now earned a total amount of €17,8M since the platform inception in 2014.
In August, 7 loans worth €700K were marked as default.
Bulkestate
Bulkestate is requesting current investors to confirm their profile information to comply with KYC (know your client) and AML (anti money laundering) policies through the use of Onfido’s verification and authentication services.
From now on, two-factor authentication will be available to all platform users. It’s optional, but recommended to securely log into the account.
A new investment opportunity “Skolas Street” with an annual return of 13.5% will be launched Tuesday, September 15th.
EvoEstate
EvoEstate secured a round of funding, from Startup Wise Guys, a Hong Kong-based stealth investment fund, and business angels from France and the Baltics. Startup Wise Guys are known in the P2P industry for backing EstateGuru since their early days. A good sign for the future of the platform.
They shared with investors a Real Estate Investment Report that could be interesting for you as investor. Find a copy here.
Crowdestate
Crowdestate CEO Loit Linnupõld contacted investors to address their concerns regarding the Estera Development Holding OÜ reported losses. For context, out of the initial investment of €1.1M in the project, investors received ~€300K, resulting in a internal rate of return (IRR) of -64.33%.
“While we are truly sorry for that investment going south, everything concerning the collection of debt and liquidation of company’s assets were done according to Estonian law.”
A hard lesson to investors of the Risks of P2P lending.
ReInvest24
ReInvest24 announced that the implementation of the secondary market is postponed to October 2020.
Since September 12th, the platform is reducing the investment fee in half, from 2% to 1% of the investment amount.
The Majaka 54-13 project property was placed on the market, as the short-term rental market got a big hit due to COVID19. Tanel Orro is confident that it will be sold with profit in the near future, just like the 4 other Majaka apartments were in the past.
Rendity
Rendity is promoting a new project in Vienna: Schuhmeierplatz 13. With an interest rate of 7,00% per year and a term of max 24 months.
After completion of the construction work, a total of 45 residential units with an average floor space of 32 m² – 74 m² including balconies and terraces will be offered for sale.
According to planning, completion is scheduled for the 3rd quarter of 2021.
Profitus
In August Profitus reached 10000 registered investors.
Next Tuesday, September 15th at 10 AM Viktorija Vanagė will present a live broadcast to discuss:
- Overview on Profitus financial results in 2020;
- Overview of the active portfolio;
- Discussion of the upcoming projects;
- Answer of investor questions.
You can ask your questions on Profitus social media pages.
BitOfProperty
BitOfProperty reported August rental cumulative statistics:
- 99.96% occupancy;
- 28 months rent paid;
- €32,004 rent distributed;
- €448,466 money invested.
Check the BitOfProperty 2019 Annual Report here. A reported loss of -€384K.
Brickstarter
Brickstarter have not published any investment opportunities during the last few months. The reason presented by the platform was that they don´t want to invest in a downtrend market.
With focus in Spanish tourism real estate projects, they decided to wait in order to have a clear picture of what was going to happen. Now they are considering new investments in vacation rental businesses in Cádiz and Alicante.
Other P2P Platforms to Consider
I hope you find this quick Real Estate P2P platforms overview useful to keep up with what is happening. Please share your thoughts on how to improve the quality of the information shared. I appreciate your feedback!
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