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Interview with Igors Puntuss CEO and co-founder of Bulkestate
Can you introduce yourself and your role on Bulkestate?
Thanks for having me on the interview. My name is Igors Puntuss and I am CEO and co-founder of Bulkestate – Real Estate Crowdfunding and Group Buying platform.
What are the different investments offered on Bulkestate?
Currently, we list business loans that are backed by real estate mortgage to protect investors. All of our listed investment opportunities are carefully pre-vetted by our internal professional team as well as we work with 2 largest real estate companies in the Baltics to evaluate the properties before they become available to investors. So our main focus is on real estate.
How do each of the above investments generate passive income or profit?
All of the investment objects are completely passive for investors. To make it completely ‘hands-off’, investors can even choose to set up ‘Auto invest’ feature on their accoun
t with preferred investment criteria and enjoy the process without even logging in to the platform.
What happens after a property is bought from group buying?
After a successful group buying deal, buyers are invited to finalise the paperwork to become legal owners of the chosen property. It is up to a buyer to decide what to do with the property further. Bulkestate is just a tool for real estate owners to sell large properties in parts. Currently, we don’t have such services available but it may be introduced as our group buying deal volume grows.
Can you describe Bulkestate in numbers?
Bulkestate was founded in late 2016 and this December 2019 we will have our third anniversary. During this period, we have funded 58 investment objects out of which 28 have been already paid back to investors with all the accrued interests. The total amount funded is almost 10 million euro.
What is the default rate and the late payment rate of the loans on Bulkestate?
We are happy to say that so far we haven’t got any delayed payments or defaults. Our focus is on investment object quality, not quantity and so far this strategy has paid off for our investors in regards to safety.
How many new projects do you list monthly, are you planning to increase/decrease the deal flow?
On average we list around 2 investment objects per month but this volume has increased over the last year so we expect that the volume will also increase in the future.
Does Bulkestate have a secondary market? If not will there be one available in the future?
No, we don’t have a secondary market available and it is not planned in the near future.
How does Bulkestate make money?
Bulkestate makes money from commissions received from borrowers as well as from group buying deals that we occasionally list on the platform.
What can we expect from Bulkestate in the future?
When Bulkestate was founded, the idea was to focus on real estate because that’s where our team feels very strong and it hasn’t changed. We strive to make our investment deals as secure as possible so that our investors could have peace of mind about their investment portfolio on our platform. As previously mentioned, we believe that in order to achieve this, we have to focus on quality rather than quantity.
We see that there are more opportunities in the real estate market that require more funding and generates more profit. This is what we would like to achieve together with our investors – fund larger high-quality objects that previously were not possible.
We thank Igors Puntuss for the interview.
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- This interview does not constitute an endorsement.
- The answers have been provided by the interviewee.
- This is not a buy, sell or hold recommendation of any assets mentioned in this interview.
- Do your own research before you invest in anything.
- This press release/article/interview has been published for free.