We present a third phase of phased financing project - "Pazaislio namai III". The raised funds will be used for the development of real estate. The amount to be raised at this stage is EUR 95 000.
The aim of the project:
The owner of the project is building a 1 323-square-meter apartment building with an underground parking lot on a 23.48-acre plot of land (adjacent to his developed project "Pazaislio apartamentai"). A total of 24 apartments will be formed in the apartment building, the areas of which will be 34-63 square meters. The construction permit has already been obtained for the project. Construction work has started - the foundations of the apartment building, which have not yet been registered in the registry center, have been poured. The apartments are planned to be sold with partial decoration. The income from the sale of all apartments, parking spaces and storage rooms will amount to EUR 2 400 000.
Progress of the project:
At the beginning of August, 25% completion of the building was registered in the Registry Center, 2 apartments are reserved. Currently, in the project, the walls of the first-floor apartment building are raised, and the walls of the second floor are being raised. Outdoor networks are installed: water supply, sewage and drainage.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, a part of the land plot with an area of 23.48 acres and apartment building with area of 486.34 square meters are pledged at Betonuotoju st. 4, Kaunas. According to an independent real estate appraiser, the value of real estate pledged to investors is EUR 653 400.
Maximum planned amount of funding for the project: EUR 1 300 000. 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. LTV at this stage - 51%.
Interest by investment amount:
- From 100 EUR to 999 EUR – 9%
- From 1 000 EUR to 4 999 EUR – 9,5%
- From 5 000 EUR to 9 999 EUR – 10%
- From 10 000 EUR – 10,5%
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.
