“It all started with the construction of a holiday home.” says Arthur. Having had some disappointing experiences renting holiday houses before, Arthur and a few friends decided to design and build some really cool cabins themselves. “With some of my own money and some financial support from friends, we started a new adventure”.
The result? Four exceptionally beautiful holiday homes that are rented out almost every day of the year.
Arthur and his partner got a taste for it. However, the speed at which they wanted to progress started to squeeze things financially. “We reached the point where we had to refinance the existing holiday homes. And that turned out to be a big problem. Despite excellent appraisal reports and good yields, our bank didn’t want to know about it – purely because it concerned recreational homes. Let’s try crowdfunding, we thought. To our surprise we received a terrible proposal with a sky-high interest rate and a strict repayment policy.
Fortunately, a friend alerted us to Briqwise. After sending them our valuation reports, they let us know within 24 hours that there was a good chance financing could be arranged. Our Cabin project appeared on the Briqwise website, and the financing was claimed by an investor within an hour!!!
All in all, it took only two weeks to settle our financing request – from the moment we called Briqwise to the passing of the deed at the civil-law notary. Incredible.
We are also happy with the flexible conditions. We are allowed to make repayments on our loan without penalty at any time. This is extremely beneficial for us, because we can make significant annual payments from our rental income. The interest rate of 6.5% may sound high to outsiders, but if you compare it to the crowdfunding proposal, it isn’t!. Moreover, the other conditions make the overall Briqwise package very attractive. Now we can continue building more cool holiday homes.”
