We present the third stage financing project - "Varkaliu kotedzai", the funds of which will be used for real estate development. The amount to be raised is EUR 30 600.
About the project owner:
The project owner has experience in real estate development. There are developed 14 property units (semi-detached and detached houses) with a total area of 1 120 square meters.
The aim of the project:
The owner of the project is developing a residential quarter at Sodo St., Varkaliu Village, Plunge District. Currently, 6 residential houses are being built on the project, which are one-storey, 80 square meters. The houses will be sold and a preliminary purchase agreement for one house has been signed. The planned sales revenue of one house starts from EUR 85 000, and the estimated sales revenue of the whole project will reach about EUR 510 000.
Progress of the project:
Of the six houses currently under construction, four are in the masonry. Of these, the roofs of two houses have already been covered, and the roof of another house is being prepared. The windows for the two houses will be laid in 2-5 days and the rest of the work will continue.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, a 7.38-acre plot of land with the buildings is pledged at Stoties st. 7A, Siauliai. The pledged assets are not being developed, they are other property owned by the company. According to an independent real estate appraisal, the value of real estate pledged to investors is EUR 247 200.
Maximum planned amount of funding for the project: EUR 120 000. The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. LTV at this stage is 49%.
Interest by investment amount:
- From EUR 100 to EUR 499 - 10%
- From EUR 500 to EUR 999 - 10,5%
- From EUR 1 000 - 11%
Important: investments made separately are not aggregated.
We plan to collect the accumulated amount within 7 days with the possibility to extend it to 21 days without raising 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.
