Housers: don’t invest in them

Published on 30/10/2020 / Total invested: 106,982 euros

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Housers continues to run misleading advertising campaigns. and to show, here’s the CEO and one of his pupils posting comments on Google:

JUAN ANTONIO BALCÁZAR, CEO OF HOUSERS

I haven’t kept pulling the thread, but if anyone wants to entertain themselves looking for Housers charges and 5-star reviews on Google, Truspilot and Rankia,you have entertainment for a while… It would be great to undress their bad arts, which I understand can be even denounceable. In any case, theyare despicable practices. In any case, they are despicable practices…

If you want to invest with more security, forget about Housers and access Peerberry, Lenndy, Viainvest, Robo.cash, etc.

Of the 14 projects (9 savings, 2 investment and 3 fixed rate), I now have invested almost 107,000 euros in just 9, since the other 5 have ended when years ago they paid more or less on time. Below I show the status of each of the current ones:

Torres de Paterna: 19,430 euros invested. The funding ended in August 2018 and, being a 12-month project, should have been paid back already 14 months ago. They promised from October 2019 that they would pay the interest monthly until August 2020, when they would return the capital of 19,430 euros that I invested in them, but they did not fulfil their commitment. On 9 July, the Board of Lenders was convened for several projects related to the developer Construbecker, S.L., in which they proposed the novation of an additional year, which would already add a total of 36 months to the initial 12 months, to be paid from August 2020. It was approved on 12 August and they have started to pay in October the default interest that should continue to be paid until September 2021, when they will repay the project. Will they honour their commitment this time?

Marismas de Odiel: 10.000 euros invested. Project launched in July 2018 to 6 months that should have been returned in January 2019. BUT, in mid-October (9 months later), investors accepted a monthly payment schedule until June 2020, but only paid ONE MONTH! And this is not all, because on February 20th the promoter of Marismas de Odiel was included in the ASNEF(Private Registers of Debtors in Arrears). In September they have launched for the second time a meeting of investors to see if we accept the payment schedule. It was approved at the beginning of October and proposed the payment of interest on arrears in October and November 2020, while the repayment of capital and interest would be in January 2023. It’s a long time, I know. I don’t know if Housers will still exist at that time.This way, if everything goes well, instead of a 6-month project, it has been delayed to a total of 54 months!

Albufera III: 50,126 euros invested. In June 2018, I collected compensation for an unfair dismissal and reinvested much of this project. Damn my decision! In a twelve month project, it looks like we will finish it in 39 months, if they really deliver. So that you can see how Housers spends them and their lack of commitment to the shareholders. According to a first payment schedule, the last payment would be made on 30 April 2020, but you can see that this has not been the case. As in the Torres de Paterna project, on July 9th the Board of Lenders was convened for the novation of an additional year,to be paid since August 2020. The new proposal is for the payment of interest on arrears until September 2021, when the project would be repaid. Until I see it I will not believe it, because they have already failed to comply with it before. What’s going to happen this time?

Iriarte: 15,100 euros invested. Since March 2019 I have been waiting for this project to return interest and committed capital to me, but it hasn’t been sold yet. The penultimate announcement was in July 2019, in which they put the project up for sale. The last one was in March 2020 and it was reported that the property was no longer marketed by Covid-19! I have been informed that they have resumed the marketing of the property after the pandemic. I no longer believe anything.

Vara del Rey: 1,500 euros invested. Another unfulfilled promise. Their payment schedule promised to end the project deadlines by April 2020. Did they pay you anything? To me it is: 3.39 euros in April. 0€ since then. But of the 1,500 euros invested, there is no news.

They say that a rental-purchase offer is currently being negotiated and continues to be marketed through the real estate company “Como tu Casa”. The Company’s accounts for 2019 are pending approval and will be submitted to the AGM in November. Also pending is the change of the company’s address and the cancellation of powers of attorney of previous directors and proxies.

The Raval II: 2,800 euros invested. It ended eight months ago in February, when this project came to an end. As usual, they have not met the scheduled dates and have also ceased to market it because of the Covid-19. My profits in almost three years has been 22 euros!! What a wear and tear situation this is. Don’t go through it and run away from Housers. In October they reported that they are also awaiting approval of the accounts which should have been held at the Board in October. Without firm offers, it continues to be marketed through the same real estate agency as Vara del Rey.

Sagasta: 2,400 euros invested. In the end it doesn’t sell, but I don’t want to stop exposing what I wrote just two months ago: “After 42 months, which is 18 months longer than expected, this project seems to be going to end with a loss of 28%, as I said at the beginning. This means that I would have lost 672 euros, with a final TIR of -11% when I expected a TIR of +10.11%… These so-called real estate experts are unpresentable! With no tenants since December 2019, there have been several buyers interested but offering very low prices. It is marketed through the Javier Reynes Architecture Studio. In October, an offer of 180.000 euros was received, which turns out to be 9.000 euros below the purchase price of investors. Pending also the approval of accounts that should have been held at the Board in October.

Pensamiento: 426€ invested. It was completed in January 2020 after 36 months, which have provided a profit of 29 euros with a cumulative return of 2.3%. In April they sent a statement announcing that they would not be able to make visits by covid-19, so the minimum delay will be 8 months at best. As in other projects, they have resumed visits to the properties to try to sell them. Bad time we are having now to sell flats.

Juan de la Encina: 5,200 euros invested. This project, which ended in June 2019, should have already returned the full amount. In October I was informed that there are tenants in both properties and it is being marketed for sale through the real estate agency “Como tu Casa”. Also pending is the approval of the Company’s accounts for 2019, which will be submitted to the Meeting during the month of November.

So far the update of the end of August and then a brief summary of this unpresentable company:

Housers is a Spanish platform created in April 2015 with an exceptional and novel initial idea in our country:purchase of second-hand properties with a potential price increase in a short time thanks to the rehabilitation and subsequent rental and sale.

In addition, since it was a start-up, during their first year of existence they advertised a tax deduction of 20% of the total investment. In addition to interest, it represented a round business. But while legally such a deduction could be applied during their first three years, they stopped advertising it because the Treasury put countless locks on them.

To this day, five years and a half later, the situation has gone out of hand, in my humble but knowledgeable opinion: problems and divisions between the two co-founders of society, systematic delays in interest payments and repayment of amounts invested out of time, lack of information to the investor in the absence of concreteness and response on the part of the platform and its customer service, fines by the CNMV, etc.

I was one of the first investors to trust them, but I currently represent one of the thousands affected by the platform that is looking forward to the end of the payment periods proposed by the promoters and to which we are unprotected. In many cases they have proposed a delay of more than a year since the supposed completion of the project, so we have a long wait to recover what is invested. See here the opinions at Trustpilot,a company specialized in attracting customer reviews, although I suppose all the newbies who have started investing are delighted… you’ll see, now… Summary: Don’t invest with Housers.

They continue to launch projects massively and already have almost 117 million euros, announcing interest between 6% and 14%, plus an additional 3% in one-off campaigns (Black Friday, for example). There is no doubt that its strong is not the real estate sector, but real estate marketing.

The page is very intuitive, they make it easy to invest from 50o, but the internal return rates are not real.

In short, I advise all my acquaintances, friends and family who consult me, DO NOT INVEST UNDER ANY CONCEPT on this platform, at least until they reverse a decline that began two years ago.

And if you require additional information, in this linkyou can view its basic information for the investor.

Despite having a referral program that could offer me some benefit in the event of investing through a link, I do not recommend in any way investing in this platform, so it would not be fair to make any profit on your part.

The individuals who invest our money, we have no capacity to make decisions even if the company is formed by each and every investor because, as recorded in the legal conditions published on the Housers website to which I have referred you previously, “the investor will not have access to the management of the company in which he invests.” In my case, I am trying to withdraw for years the almost 107,000 euros invested, at the moment with zero success.

They launch continuous promotions, new investor recruitment tools and very high returns, but they keep breaking their promises,so if you still want to risk investing with them, it won’t be that I didn’t warn you…

I have only one more thing left: do not invest in Housers, do not invest with Housers, do not invest in Housers in any way, do not invest in any way with Housers. Is that clear? Don’t invest in Housers.