We present a new phased financing project "Dvibutis Luksines 25", the funds of which will be allocated to real estate development. The amount to be raised at this stage is EUR 41 000.
About the project owner:
The owner of the project has previously implemented a real estate project financed by the "Profitus" investor community. The project was successfully completed.
The aim of the project:
The owner of the project will develop a 116-square-meter residential house on a 6.23-acre plot of land. Currently, the owner of the project has purchased a plot of land with his own funds and has started pouring the foundations of the house. The house will be sold partially finished. Estimated sales revenue is EUR 440 000. The project owner will spend the funds raised at this stage for masonry works.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, a 6.23-acre plot of land at is pledged at Luskines st. 25, Vilnius. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 82 000.
Maximum planned amount of funding for the project: EUR 200 000. The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. When maximum LTV is reached, a new valuation of the property will be required and further project funding stages will be announced and collected only if the maximum LTV set is not exceeded.
We plan to collect the accumulated amount within 7 days with the possibility to extend it to 21 days without raising funds.
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.
