We present a new investment project "Namas Svajonių str.", the funds will be allocated to continue the construction of the residential building. The amount collected for the project is 90,000 euros.
About the borrower:
The developer has a lot of experience, having developed about 4 thousand square meters (as a manager) and about 6 thousand square meters of real estate projects under the company's name. The developer previously received financing on the Profitus platform and has completed 9 real estate projects. Projects were successfully finished, and investors were paid back on time.
The aim and progress of the project:
The owner of the project is building a residential house with an area of 158.23 sq.m. with a 25.5 sq.m. m garage in the Vilnius district. The house will be A++ class with two floors. The structure of the house is already built. Funding will be used for further construction work - the roof installation, insulation and facade work will be carried out. The house is already for sale with an estimated sale price of €399,000.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To ensure the interests of investors, 563 square meters of land with a building, located in Svajonių str., Vilnius is mortgaged. The value of the mortgaged property will be constantly increased, as the mortgaged property is being developed from the loan funds. According to an independent real estate appraiser, the value of the property pledged to investors is currently 166,000 euros. Loan-to-value ratio (LTV) - 55%.
Interest by investment amount:
- From 100 EUR to 499 EUR – 10%
- From 500 EUR to 2 999 EUR – 10,5%
- From 3 000 EUR to 9 999 EUR – 11%
- From 10 000 EUR – 11,5%
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.
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.
