We present third stage of phased financing project "Namas Moluvenu", the funds of which will be allocated to the development of real estate. The amount to be raised at this stage is EUR 11 000.
About the project:
The owner of the project plans to build a 250 square metre semi-detached house on a 6.6 acre plot. House will be class A+, two-storey. The house will be sold partially finished. The planned sales proceeds of the whole project are EUR 440 000.
Project progress:
With the funds raised in the past phases, the owner of the project did these works: installed the foundations, insulated them, installed the slabs, installed the roof structures, installed the internal partitions, installed the windows, concreted the stairs, installed the electricity in the house, installed the water supply, installed the sewage system, insulated the floors with polystyrene, installed the underfloor heating, concreted the floors and started the plastering of the walls and partitions.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, a land plot with an area of 6.6 acears and a duapicate with an area of 134,14 square meters are pledged at Molvenu st. 1 Vilnius. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 181 000.
Maximum planned amount of funding for the project: EUR 350 000. 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 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.
