We present the third phase of the new phased financing project "Faustinos namai". The raised funds will be used for the further development of the reale estate project. The amount to be raised at this stage is EUR 51 500.
The aim of the project:
The owner of the project is developing the 15-apartment closed project "Faustina's House". In the first phase of construction, 3 semi-detached houses and 1 single-family house are being built. On the Profitus platform, the project owner finances the first stage of construction by pledging 4 plots of land with building permits where the project is being developed. Currently, the structural part of all the houses of the first phase has already been completed. The windows have been installed for the semi-detached house, at Faustinos st. 13F and 13B. More about the project here.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, four plots of land with a total area of 41 acres are pledged at Sv. Faustina street, Skaidiskiu village, Vilnius district. Houses under construction that are not yet registered are mortgaged with an additional conditional mortgage. Once the home is registered, it will be secured by a primary mortgage. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 430 000.
Maximum planned amount of funding for the project: EUR 790 000. 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.
Interest by investment amount:
- From 100 EUR to 499 EUR – 9%
- From 500 EUR to 999 EUR – 9.5%
- From 1 000 EUR to 2 499 EUR – 10%
- From 2 500 EUR to 4 999 EUR – 10.5%
- From 5 000 EUR – 11%
Important: investments made separately are not aggregated.
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.
