- Reliable Developer: The developer has experience in developing projects. In total, they have developed 1,900 m² of residential real estate projects. They have also fully implemented 1 project together with PROFITUS.
- Generating Income: Fully equipped 3 holiday homes will generate EUR 2,500 in monthly rental income.
- Liquidity: The mortgaged real estate is liquid, 100% complete, and located in Kaunas.
About the Project:
The project owner seeks to refinance the existing obligation to reduce borrowing costs. The developer is developing a "Glampingo" project in Kriemalai village, Kaunas district. The project is nearly complete, with the Registry Centre registering 80% completion - three cozy 24-25 m² houses for vacationers have already been built. Additionally, a sauna, ofuro baths, and a heated outdoor pool are being installed for the convenience of vacationers.
Loan Information:
The loan will be covered by the proceeds from the sale of lofts, which are estimated to be EUR 326,000. Interest to investors will be paid from rental income.
The maximum planned project financing amount is EUR 263,500. The project is financed based on the current valuation of the collateral until it reaches the set maximum loan-to-value (LTV) ratio. Upon reaching the maximum LTV, a new property valuation will have to be performed, and further project financing stages will be announced and collected only if the set maximum LTV is not exceeded.
The target amount is planned to be raised within 7 days with the possibility of extending up to 30 days if the funds are not raised.
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.
