- The owner of the project will use the funds raised to develop the property and for working capital;
- The development is located in Antakalnis. Antakalnis is the oldest and currently the largest district of Vilnius, located to the north-east of the city centre;
- The owner of the project has extensive experience in the real estate sector;
- The developer has completed a similar project in Vilnius.
About the project owner:
The project owner has experience in real estate development and has completed various real estate development projects with a total area of 3 500 square metres. He has developed 6 individual residential houses in Zivinbudo Street, Vilnius district. He has financed and successfully implemented the project „Gyvenamasis namas Antakalnyje“ on Profitus platform.
About the project:
The owner of the project is developing a 182.43 square metre single-family dwelling house on a 0.0622 hectare plot of land in Vilnius. The developer intends to complete the residential building to full completion and sell it. The estimated sales proceeds are EUR 730 000 including VAT. This loan will be repaid from the proceeds of the sale of the property.
Project progress:
The current registered completion rate of the house, according to the Centre of Registers, is 86%. The funds mobilised for this phase will be used to continue the construction works.
The maximum financed amount: EUR 250 000 (EUR 187 400 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 66%.
Interest by investment amount:
– From EUR 100 to EUR 499 – 9.2%
– From EUR 500 to EUR 999 – 9.7%
– From EUR 1 000 to EUR 1 999 – 9.95%
– From EUR 2 000 – 10.2%
Important: investments made separately 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.
