- Income-generating property: The property in Palanga is fully furnished and for rent. The apartment generates a steady income from short-term rentals.
- Equity: The developer has invested approximately EUR 78,300 of their own funds, demonstrating personal commitment and a responsible approach to the project's success.
- Guarantee: An additional guarantee for the entire loan amount is provided by the company's shareholder.
Interest by investment amount:
– From 100 EUR to 249 EUR – 13.00%
– From 250 EUR to 499 EUR – 13.40%
– From 500 EUR to 999 EUR – 13.80%
– From 1 000 EUR to 2 499 EUR – 14.20%
– From 2 500 EUR to 6 999 EUR – 14.60%
– From 7 000 EUR – 15.00%
Important: investments made separately are not aggregated and cannot be pooled.
About the project:
The project owner aims to refinance the current PROFITUS loan, which was granted for the acquisition of mortgaged property in Palanga. Refinancing is planned by mortgaging the property with a conditional mortgage, considering the current restrictions due to ongoing legal proceedings related to the Construction Permit. This process is projected to take up to several years. Despite the legal circumstances, the property is fully furnished, successfully rented out, and generates stable income. The legal dispute arose from inspections conducted by the State Territorial Planning and Construction Inspectorate, which identified potential violations of legal acts regulating the construction process, specifically, an alleged exceeding of the building density indicator by 20% and non-compliance with distances. This fact complicates the standard refinancing process and leads to the application of a conditional mortgage as a temporary security measure.
The condition for the entry into force of the conditional mortgage is linked to a favorable court decision.
Loan information:
This loan will be repaid upon the sale of the mortgaged property or refinancing of the loan. Planned sales revenue is EUR 220,356. Interest will be paid from short-term rental income, which is projected to be approximately EUR 20,000 per year.
Maximum planned Project financing amount: EUR 136,500. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum 1 loan-to-value (LTV) ratio. Upon reaching the maximum LTV, a new property valuation must be performed, and further Project financing stages will be announced and collected only if the set maximum LTV is not exceeded.
We plan to raise the required amount within 7 days, with the possibility to extend it to 30 days if the funds are not collected.
About the Profitus
Profitus ist eine Crowdfunding- und Investitionsplattform mit einer Mindestinvestition von 100 Euro. Profitus-Investitionen sind durch Immobilienhypotheken gesichert. Ihre Investition ist durch eine erste oder zweite Hypothek auf die Immobilie sowie durch andere Sicherheiten (z. B. eine Bürgschaft oder Garantie) gesichert. Transaktionen werden über Lemonway, einen regulierten Zahlungsdienstleister, abgewickelt.
Profitus ist eine Crowdfunding- und Investitionsplattform, deren Hauptziel es ist, Investitionen für alle verfügbar zu machen. Investitionen beginnen bei 100 Euro, und die Plattform ist 24/7 geöffnet. Investitionen sind durch die Verpfändung von Immobilien und anderen Sicherheiten (z. B. Entschädigung oder Garantie) gesichert. Verschiedene Projekte haben unterschiedliche Sicherheitsinstrumente, auf die Benutzer im Selbstbedienungsmodus für jedes Projekt zugreifen können.
Profitus berät sich mit der Bank von Litauen, um eine perfekte Einhaltung des Gesetzes sicherzustellen. Profitus arbeitet mit Lemonway, einem regulierten Zahlungsdienstleister.
