Bulkestate is a new Latvian based lender offering high returns on secured loans
You probably haven’t heard of Bulkestate yet. They are a new P2P platform operating out of Riga, Latvia. They specialise in loans secured against real estate.
Bulkestate have made a good start, successfully funding several loans in the last few months, including the €140,000 loan we recently featured in our Loans we Love post. We like the fact that they are working with BDO to provide legal services (and a board member), and Ober Haus for valuations, one of the most respected providers of these services in the region.
With any P2P startup, there is of course a risk that there are not sufficient volumes to develop a profitable business model, and that should be considered before investing in Bulkestate. They are new and currently quite small. However, to counter this, we think that the loans offered by Bulkestate are some of the most attractive available anywhere in the eurozone currently from a risk/reward perspective, and this makes Bulkestate an interesting option for many investors. There are very few opportunities to earn 13-15% returns secured on completed real estate with low LTVs. We suspect that as long as they can continue to find loans with such high returns and low risk profiles, there will be more than sufficient demand from P2P investors to fund them.
You can view the available loans at Bulkestate here. If all the loans are currently sold out, consider opening an account so that you can get access to their mail alerts for new loans, as there can be strong demand and they can sell out quickly. The loan we featured in our ‘Loans we Love’ post sold out a day or two after we featured it.