We present ta new phased financing project – „Krasotajas studios apartamentai nuomai". The raised funds will be used for the purchase of studio housing. The amount to be raised at this stage is EUR 48 650.

About the project owner:
The project owner's group of companies has experience in refurbishment and short-term rentals. The group has refurbished more than 10 apartments in Lithuania and has managed the rental of 30 studio apartments. The project owner is currently expanding and developing its business in Riga, Latvia.

About the project:
The owner of the project has currently paid the reservation fee for two studio apartments with a total area of 50.3 square metres from his own income, and has started the renovation of these apartments. Upon completion of the renovation works, the apartments will be rented out on a short-term basis. The rental income stream is expected to be between EUR 50 and EUR 80 per day and EUR 13 200 per year. The total development period of the project is envisaged at 24 months. The rental income will be used to pay the interest on this project and at the end of this phase, after 12 months, the loan will be refinanced.

Maximum planned amount of funding for the Project EUR 69 500. The project is financed on the basis of the current valuation of the collateral until it reaches the maximum LTV. Once the maximum LTV has been reached, a new appraisal will have to be carried out and further rounds of financing for the Project will only be advertised and collected if the set maximum LTV is not exceeded.

Interest by investment amount:
– From EUR 100 to EUR 999 – 9%
– From EUR 1 000 to EUR 4 999 – 9.25%
– From EUR 5 000 to EUR 19 999 – 9.5%
– From EUR 20 000 to EUR 44 999 – 10%
– From EUR 45 000 – 12%
Important: investments made separately are not aggregated.

We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise funds.