We present the second part of the financing of the project - "Apartamentai vaivoryksteje". The amount raised will be used for real estate development. The amount to be raised is EUR 53 500. This loan will be repaid by rental income from the property.
Project owner:
The project owner has experience in real estate development. Has implemented 6 different projects with a total area of 2 103 square meters.
Progress of the project:
For the first part of the funding, the project was equipped with air conditioners, electricity and a fence.
The aim of the project:
The project owner is building 18 apartments of 40 square meters, with a total area of 720 square meters, at Vaivorykstes st. 32, Palanga. The raised funds will be used for the completion of construction works (improvement of welfare and installation of the remaining apartments). The apartments will be rented upon completion of the work. The estimated income from renting apartments only during the summer season is about 227,000 euros. If the rent is not justified, the apartments would be sold for 3,000 euros per square meter.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors 2 buildings-guest houses with a total area of 80.29 square meters, with the parts of the land plot belonging to them (3 a) are pledged at Vaivorykstes st. 32, Palanga. According to an independent real estate appraiser, Ober-Haus, the value of the mortgaged property is EUR 249 000.
The investment term is up to 35 months, at this part the exact return date of the investment is provided on 07/12/2024.
Interest by investment amount:
- From 100 EUR to 999 EUR – 7,5%
- From 1 000 EUR to 2 999 EUR – 8%
- From 3 000 EUR – 8,5%
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.
