Property Bridges Launches Ireland’s First Peer to Peer Property Loans
PropertyBridges.com – a new Irish owned peer to peer property development company – has opened for business and has launched Ireland’s first peer to peer property development investment opportunity. The PropertyBridges.com platform will raise money for small developers, small construction companies and private companies looking to develop housing and match them with thousands of lenders from the ordinary citizens of Ireland.
This business is being run by David Jelly, Michael Fitzpatrick and Marc Rafferty as well as several experienced property analysts and due diligence experts behind the scenes. David Jelly has over ten years experience in the finance sector in London and Ireland, supported by Michael Fitzpatrick with fifteen years involvement in property development finance also in Dublin and London, while Marc Rafferty was one of the founding team and original investors in Ireland’s biggest peer to peer business, linkedfinance.com as well as another well known business in Ireland, gocar.ie.
The first loan is a one year construction project in south county Dublin with state-of-the-art design, best practice eco credentials and a clear exit strategy. The developer is raising 250k to complete a mews development onsite and has an elderly couple looking to downsize lined up as the buyer. It offers an 8.5% return for the lender.
The second loan is to a developer in Kilkenny, looking for 750K for building six social housing homes for a local county council. This again has a clear exit strategy and offers an opportunity for the public to support it and make a good return for themselves at the same time.
David Jelly commented: “We can’t solve our current housing crisis in a click but we can help to alleviate the problem, project by project. Irish savers currently have €90 billion sitting in zero or low return deposit accounts. By investing in secure property loans, Irish savers can fund bright hard-working local property ‘not developers’ renovate, fit out, expand, finish off building projects etc. and actually see their money at work in local communities. Not to mention making returns of 8-10% on your investments while doing it.
“Globally there has been a huge shift to online investing but Ireland’s property market remains a traditional asset class that can be hard to access. We change that by allowing lenders to invest anywhere from as little as €500 to €100,000 in any one loan. Whether you are a person with some savings sitting idle in an account or a high net worth individual looking to diversify your portfolio, Property Bridges provides a high yielding, secure alternative investment.”
PropertyBridges.com investor Marc Rafferty and CEO David Jelly with construction workers.