Loan #607730 71655 Wieden Germany
We are pleased to present you with this exciting new investment project! Our project partner Iterum is purchasing a building that was formerly used as a hotel and tourism facility for significantly less than its value, because the hotel itself is no longer in operation. Iterum intend to convert this building into housing locations and flats.
Due to the coronavirus, there is a very strong demand for holiday flats in touristic areas. Professional partners have recognised this potential themselves and are taking advantage of these lucrative market opportunities. The property from the year of construction, which is 1972 and was renovated around 1998, has approximately 1500m²; of living/usable space divided into 24 rooms. In addition to these areas, the swimming pool and adjoining areas will be included and converted. Iterum has already proven its expertise in various other refurbishment and development projects. The property is located in Wieden, a small town in the German Black Forest.. The closest city is Freiburg im Breisgau, a mere 30 kilometres away. Freiburg is a large city with 230,000 inhabitants and a renowned university. The following transportation connections are available: Train connection to Freiburg+ Bus to Freiburg+ Bundestrasse. The development, as well as the forecast, are optimistic. Where the influx and market price valuation are concerned, we are witnessing a positive development of property in Wieden. Barrier-free flats in particular are in extremely high demand. Further property details: The house will be converted and renovated according to the specifications of the KfW - Bank. The buyers of the individual flats will receive a KFW subsidy according to programme 261 / 262 and can claim up to 75,000-150.000€ Euros of subsidies per unit. However, the applications are submitted and made by the buyers of the condominiums.
Iterum will modernise the common property and gut the house. The valuation took into account that the building permit has not yet been obtained, but there has already been a positive preliminary discussion with the city. In the first phase of the project, the purchase price is to be paid, the planning is to be drawn up and the building permit is to be applied for. There are already offers for the plot with planning permission as well as for the finished converted residential building. In phase 2, the approved 22-15 flats will be sold to the prospective buyers in shell condition. This repays the loan to the lenders. The buyers will apply for KfW loans for the refurbishment amounting to 150,000 euros per unit. Iterum Projektentwicklungs GmbH is commissioned by contract for work to carry out the refurbishment in accordance with the KfW regulations for energy-efficient refurbishment. Listed sales prices in this sought-after region range from approx. 3500 € /m2 for newly built condominiums.
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 10.00%
9.5% invested by 96 investor(s) 995,600.00 left
- Risk class i
- Expires 24 day(s) left
- Target amount €1,100,000.00
- Profit share 0.00%
- Term 24 Months
- Payment frequency 1 months
- Loan purpose Buy to sell
- Type Bullet i
- Mortgage rank First Rank
- Total Loan Cover (TLC) 136.4%
- Loan To Value (LTV) 73.3% i
- Location Germany
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