Loan #1438885 Viernheim, 68519, Germany
The Joseph-Haydn-Str 4 renovation project is being undertaken by SRC İmmobilien GmbH from Mannheim, a group of experienced developers and property investors. It is a relatively small loan of €150,00 with an interest rate of 12%. Located in an excellent part of Viernheim, in the Rhine Neckar region of Germany, the building contains four apartments, which will be renovated (May 2023), rented and sold once tenanted. If the house cannot be sold, plan B is to refinance the house and use the money to repay the loan.
The property was built in 1950 and is divided into four flats with a total of 248,70 m2 of living space and a large garden of approx. 538m2. The upper floor apartments have at least one balcony, and the ground floor flat has a large terrace. There are also two garages on the property.
Viernheim, with its 32,000 inhabitants, is a medium-sized town on the outskirts of the university city of Mannheim, which has approximately 320,000 inhabitants and is located in the Rhine Neckar region.
The project is a new venture by SRC İmmobilien GmbH from Mannheim. Constantin Richter and Partner are experienced developers and investors within the Rhine-Main and Rhine-Neckar regions and also owners of the Watertower Immobilien Group. Their main activity is the purchase, conversion and development of real estate. Their business model is based on selling the renovated projects or letting and refinancing them, thus providing an alternative exit strategy should a sale not be realisable.
The loan is secured by the 2nd rank mortgage of a property in Leutershausen, which is in very good condition, with 279 m² of living space and 920 m² of land. This property is also a previously succesfull crowdfunded project at Max Crowdfund.
Investors can invest in real estate backed loans from €100 or a multiple of this.
Because of the regulations in the Netherlands:
- A maximum of €80,000 applies per individual investor in total investments made on Max Crowdfund.
- If you have a joined account this is doubled to €160,000.
- When investing a minimum of €100,000 per loan it will not be added to the total investments made on Max Crowdfund.
- Company accounts as have no limits.
Please note, that Max Crowdfund can optionally set a maximum for a single investment regardless of the above.
You will be notified in case your investment(s) exceed(s) any limit.
On the Max Crowdfund platform you have your personal Max Crowdfund Current Account. You can top your Max Crowdfund Current Account up via various payment providers such as iDeal or by bank transfer. Provided your balance is sufficient, you can start investing in loan applications immediately. The maximum deposit amount allowed differs per payment provider, but is usually a maximum of € 50,000. If you supplement your balance via a bank transfer, please use the reference provided in the description with your payment. Please note processing your bank transfer may take more than a day, which may mean you miss out on the investment opportunity.
No. Investors must be over 18 and must have an approved account, meaning their Know Your Client (KYC) documentation needs to be submitted and approved and have a bank account linked to their account. Country-specific restrictions exist and certain nationalities may be prevented from participation in some investment products. This is to prevent money laundering, tax evasion and other illegal activities, in line with our commitment to regulatory compliance and transparency.
At the moment we only accept EURO for investing in real estate backed loans. We are aiming to accept all currencies, including crypto currencies, like we do for the Max Property Group Share Certificates, but this depends on the regulators.
By Dutch law you are allowed a 24 hour cooling-off period, which means you can either change or cancel your investment during this time without any fees charged. After the cooling-off period you cannot change or cancel your investment. You are still allowed to make a second investment. Multiple investments will be combined in one when a loan is finalised.
Yes, but you will need to have a joined bank account with your partner. If you have a joined bank account, you can request to register a joined account on Max Crowdfund. Once approved, the regulatory limit for investing will be doubled to €160,000.
You can only register a new bank account by making a bank transfer of any amount from that bank account. We only accept bank accounts that are held by you and are in your name.
If you only have one bank account registered, this will automatically be your preferred account. In case you have multiple accounts registered, you can select only one of those to be the preferred account. Funds in your Max Crowdfund Current Account that are not used for a period of more than 60 days will automatically be transferred to your preferred bank account.
When the fundraiser fails to meet their obligations to make periodic payments as defined in the loan agreement, Max Crowdfund will follow up. Periodic updates will be shared to inform investors about the status of the loan. To recover from default, measures like a change of terms can be proposed, but this requires the approval from a majority of all involved investors via online voting. In the worst case scenario the Max Crowdfund Security Agent will execute on the collateral for the loan and distribute the proceeds to the investors.
Loan terms summary
- Interest per annum 12.00%
Fully subscribed 151,000.00 raised
- Risk class i
- Expires Closed
- Target amount €151,000.00
- Profit share 0.00%
- Term 12 Months
- Payment frequency 1 months
- Loan purpose Buy to sell
- Type Bullet i
- Mortgage rank Second Rank
- Total Loan Cover (TLC) 141.6%
- Loan To Value (LTV) 70.6% i
- Location Germany
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