We present the new stage of the phased financing project – „Miestelenu namai III". The owner of the project will use the pooled amount for real estate development. The amount to be raised is EUR 40 000.
About the project owner:
The project owner has experience in real estate. The owner has experience in the development of three residential projects with a total area of 240 square metres. The developer has financed the project „Sestoku butas“ on the Profitus platform. The project was successfully completed. Interest payments to investors were made on time.
About the project:
The owner of the project is developing a residential estate in Kaunas district, with a total of 10 residential houses. Each residential house will have an area of 79.99 square metres. Currently, 8 houses have already been built and registered in the Centre of Registers, of which 6 have already signed notarial sale-purchase agreements. The remaining 4 houses are still under development by the developer. The projected sales revenue for the remaining houses is EUR 460 000. This loan will be covered by the sales proceeds.
Project progress:
With the funds raised in the second phase, the owner of the project has started the construction and interior decoration of two houses. The developer will use the funds raised in this phase to continue the development of the houses and the interior finishing works.
The maximum financed amount: EUR 325 000 (EUR 194 900 already raised). The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV of 70%. Once the maximum LTV is reached, a new valuation of the property will have to be carried out, and the further stages of financing the project will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-value ratio (LTV) with VAT at this stage is 57%.
Risk category (probability of default) of this project: 9.
Interest by investment amount:
– From EUR 100 to EUR 499 – 9.6%
– From EUR 500 to EUR 999 – 10.1%
– From EUR 1 000 to EUR 1 999 – 10.35%
– From EUR 2 000 to EUR 4 999 – 10.6%
– From EUR 5 000 to EUR 9 999 – 11.1%
– From EUR 10 000 – 11.6%
Important: Individual investments are not aggregated and cannot be pooled.
We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise 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.
