- Own funds contribution to the project: At the beginning of the project, the developer invested 90 000 EUR of their own funds for land acquisition and construction works.
- The value of the mortgaged property is constantly increasing: Exactly one year ago, the completion of this project,according to the Centre of Registers, was 51%. Currently, the construction works of the project are 81% complete.
- The developer has a reliable project owner status: Previously, in projects financed by the Profitus platform, the project owner fulfilled all payments on time.
About the Project Owner:
The project owner has three years of experience in real estate development. They have successfully developed two semi-detached houses in Kaunas, totaling approximately 500 m².
About the Project that is being refinanced:
The raised funds will be used by the project owner to refinance the existing loan, thus extending the loan term, as the sales process took longer than expected, giving the project developer more time to complete the sales and develop the real estate to a partial finish. A class A++ energy-efficient, 222.88 m² semi-detached residential house is being developed at Kadagiu St., Kaunas. The two-story house is planned to be equipped with a partial finish, stairs, and partitions, and then sold. Currently, the semi-detached house is divided into two separate property units (apartments), and according to the Centre of Registers, the completion of the apartments is 81%. The expected sales revenue from the two apartments is 378 896 EUR including VAT. This loan will be covered by the sales revenue from the apartments, and the interest to investors will be paid from the operating income of the project owner's company.
The maximum financed amount is 250 000 EUR. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum loan-to-value (LTV) ratio of 70%. Upon reaching the maximum LTV, a new property valuation will have to be performed, and further stages of project financing will be announced and collected only if the set maximum LTV is not exceeded.
Interest by investment amount:
– From 100 EUR to 249 EUR – 10.50%
– From 250 EUR to 699 EUR – 11.00%
– From 700 EUR to 2 499 EUR – 11.50%
– From 2 500 EUR to 6 999 EUR – 12.00%
– From 7 000 EUR – 12.50%
Important: investments made separately are not aggregated.
We plan to collect the target amount within 7 days with the possibility to extend it to 30 days if the target is not reached.
About the Profitus
Profitus is a crowdfunding and investment platform whose main goal is to make investment available to everyone. Investments start at 100 euros, and the platform is open 24/7. Investments are secured by pledging real estate and other collateral (e.g., indemnity or warranty). Different projects have different security tools that users can access in self-service for each project.
Profitus consults with the Bank of Lithuania in order to ensure perfect compliance with the law. Monetary operations on the platform are carried out in cooperation with Paysera and Trustly. The risk relating to the project and project owner are assessed on the basis of information provided by Creditinfo.
