WHAT TO KNOW ABOUT FINTOWN
Fintown is an investment platform that offers investors easy and safer ways to participate in real estate projects throughout Europe, with a particular emphasis on Prague, the capital city of the Czech Republic. It is powered by Vihorev Group, which has over ten years of experience in the Czech real estate market. By making real estate investing more accessible to individual investors, the platform hopes to help them diversify their holdings and take advantage of the potentially large returns associated with real estate investments.
OPENING AN ACCOUNT AND VERIFYING IT
You will need to upload a copy of your identity document and provide some basic personal information to the platform in order to be verified.. A few days were needed for the verification process, which is deemed acceptable considering how crucial it is to guarantee investor security.
The only currency that can be used on Fintown for deposits is euros, which you can make once you've been verified. You only need €50 to get started.
USER INTERFACE AND ENCOUNTER
You will be able to access the dashboard of the Fintown platform once your account has been validated. It's simple to navigate and manage your investments with the clear and simple user interface. With easy-to-use navigation menus and prompt access to key features like the investment marketplace, portfolio overview, and transaction history, the platform provides a flawless user experience.
One of the platform's key selling points is its flexibility; it emphasizes easy investment exits, daily interest accrual (as opposed to, say, monthly, which would limit exit flexibility), and 0% commissions on cash deposits and withdrawals. Additionally, there are no costs associated with making an investment.
FINTOWN INVESTMENT OPPOTURNITIES
Fintown primarily concentrates on real estate investments, providing a variety of avenues for investors to engage in European real estate development initiatives. The platform carefully considers and chooses projects based on variables like risk overall, potential returns, and location. As a result, investors are able to have faith in the offered investment opportunities.
Prague (Czech Republic) rental apartments make up a large portion of the projects. For those who wish to learn more about this growing economy, this is ideal.
There are no investment fees and a minimum investment is from €50. You'll be happy to hear that the team has a stake in each project because they put at least 20% of their own money into it.
The available investments pay interest each month and yield between 9% and 12% annually.
KINDS OF REALESTATE AVAILABLE
Fintown offers a variety of real estate investment opportunities, the majority of which are for short-term rental apartments in Prague, the country's capital. The Smichov District is where the apartments are specifically situated. On Booking.com, you can check out a few of the apartments and see for yourself how many reviews these properties have received. Here's an illustration
In recent years, Prague's short-term rental market has undergone substantial changes. Lockdowns, travel bans, and social distancing measures following the global pandemic in 2020 caused a significant decline in demand for short-term rentals, especially for Airbnb-style lodging. But as travel restrictions have loosened and people have progressively adjusted to the new normal, Prague's short-term rental market is growing and exhibiting encouraging growth indicators.
Prague's continued popularity as a travel destination is one of the things boosting the city's short-term rental prospects. Prague continues to draw millions of visitors each year because of its fascinating history, breathtaking architecture, and lively culture. Short-term rental demand is predicted to rise as foreign travel picks back up, providing investors and property owners with chances to profit from this expanding market.
The allure of short-term rentals has also been bolstered by the increasing cost of real estate in Prague. The rising cost of real estate has made buying a property for short-term rental use appealing to a large number of domestic and foreign investors. Further piqueing interest is the possibility of obtaining a larger return on investment than long-term rentals.
Furthermore, there is a greater need for short-term lodging for business travelers and remote workers due to Prague's vibrant startup scene and the increasing number of foreign businesses setting up shop there. The fact that professionals looking for flexible and comfortable lodging frequently choose short-term rentals over hotels further supports the short-term rental market's prospects.
With all of these advantages, investing in short-term rentals in Prague is currently very appealing, and Fintown provides one of the simplest methods to gain exposure to this market.
INVESTMENT PROCEDURE
Using Fintown to invest in real estate developments is simple. You just need to choose the project that best fits your investment goals after looking through the available options, then finish the transaction by deciding how much to invest. In order to keep you updated on the performance of your investments, the platform also offers updates on project progress.
Participatory loans and mezzanine loans are the two types of investment formats.
Mezzanine loans are a kind of unsecured subordinated debt, which means that other obligations, including subordinated debt, will be paid off after the borrower's assets are liquidated to pay back a senior loan (like a mortgage).
A participative loan is a kind of credit where the lender lends money to the borrower and splits the profits and losses that come with the terms of the loan.
Compared to mortgage-secured loans, the risk associated with both kinds of investments is higher.
RETURNS AND EXIT PLANNINGS
The possible return on investment and the exit strategy are two important factors to take into account when making any real estate investment. Depending on the nature of the project, Fintown projects usually offer investors a combination of capital appreciation and rental income, making them attractive investment opportunities. Regarding the exit strategy, Fintown typically provides with a clear understanding of when you can anticipate realizing your returns by outlining the estimated timeline for each investment.
Every project on Fintown has a minimum term that identifies the amount of time your funds are locked in.
There is a 9–24 month range for these terms. You can withdraw your money at any time after the term ends without incurring any additional fees.
If you choose to withdraw your investment before the loan period ends, you can do so by submitting a request straight through the platform. But take note that depending on how long the term is left, Fintown will charge an exit fee.
FINTOWN VIP CLUB OR ASSOCIATION
The VIP Club at Fintown is a special initiative that offers bonus interest on the entire amount invested to its most devoted members. This initiative is unique in that it provides interest regardless of the particular projects that are invested in.
BENEFITS IN BRIEF:
If you are investing between €10,000 and €29,999,it will yield an additional 0.5% annual interest rate on the entire amount.
Investments over €30,000 are eligible for a bonus interest rate of 1% per year
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QALIFICATIONS AND CONDITIONS:
Without any further requirements, investors who commit €10,000 or more are instantly eligible for the VIP Club.
Bonuses are determined by the program using the entire investment as a basis, not just specific transactions.
Members have 12 months to decide whether to withdraw or reinvest their accrued bonuses.
Rewards begin to accrue after the 12-month period and can be withdrawn at any time as long as the investment remains above €10,000.
However, the bonus interest rate will drop from 1% to 0.5% if, as a result of partial withdrawals, the balance falls from the initial €30,000 or more to between €10,000 and €29,999.
An investor's VIP Club benefits and any associated earnings will end if their balance falls below €10,000 after they withdraw.
A tempting offer for investors wishing to diversify their holdings is Fintown's VIP Club. Members receive an extra interest percentage as soon as they reach the €10K or €30K investment thresholds. This program guarantees that committed investors receive real returns on their investment in addition to encouraging larger investments.
CONCLUSION
In conclusion, the platform offers investors a special chance to take part in real estate projects in the Czech Republic and possibly other European nations. They provide a user-friendly experience along with carefully chosen investment opportunities. Fintown is a great addition to an investment portfolio, despite certain drawbacks like the platform's exclusive concentration on real estate investments.
