We present a new phased financing project "Poilsio butai Vanagupes g.". The project owner will use the raised funds for the purchase of partially finished real estate, which he will later equip with his own funds. The amount to be raised for this stage is EUR 107 100.

About the project owner:
The owner of the project has many years of experience in the field of real estate development, his specialization is this type of projects - conversion of premises or installation of attics. Previously, "Profitus" financed and successfully implemented 7 real estate projects on the platform, from which investors earned EUR 56 000. Currently, the developer is implementing other projects financed on the platform: "Butai Kestucio 5", "Uzupio angelo butai", "Subaciaus 4".

The aim of the project:
The owner of the project, in order to diversify the company's activities, expands the range of services provided. For that purpose, they are buying two holiday apartments in Palanga for short-term rent. The total purchase price of the property is EUR 148 000, the estimated costs for furnishing the premises with all the necessary furniture and household appliances are about EUR 35 000, and the planned annual rental income is almost EUR 17 500 per year. Detailed rental income stream calculations are provided in the financial section. Taking into account the flow of income generated by the property, the project owner will make appropriate decisions on loan repayment after a year. The main goal is to repay the loan from the income generated by the company's activities, but the possibility of refinancing the loan or selling the property is not ruled out.

To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure investors' interests, two holiday apartments with a total area of 48.96 square meters and parts of the plot of land and a parking space are pledged at Vanagupes st. 60, Palanga. According to an independent real estate appraiser, the value of the mortgaged real estate is EUR 153 000.

Maximum planned amount of funding for the project: EUR 150 000. 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.

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 - 10%
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.