We present the new stage of the project „Bendoriu panoramos XIV". The project owner will use the funds to refinance the existing loan and to continue construction work. The amount to raised at this stage is EUR 12 899.
About the project owner:
The project owner has experience in real estate development. The owner has experience in building 6 different construction projects (12 detached houses in total) with a total area of 1 500 square metres.
The aim of the project:
The project owner is developing 5 single-family houses on 5 plots of land with a total area of 52.36 acres. The area of four houses is 185 square meters each, and the area of the fifth house is 174 square meters. The planned income from the sale of all houses is EUR 1 460 000. Currently, the house at Zirgyno st. 13A has already been sold.
Progress of the project:
The project development work is almost finished. Currently, all houses are registered in the Registry Center with at least 85% finality. The owner of the project is preparing to start the environmental management and well-being installation works of the area. For future buyers, the owner of the project will give the opportunity to purchase a house either partially or fully finished. For those who wish to purchase with full decoration, interior installation work will be carried out according to the customer's needs. After the last phase, the project owner laid tiles everywhere, built a fence, as well as the garage door of the 5th house, smoothed the rear layer of the landscaping and plastered most of the walls.
To ensure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, 4 registered houses and 4 plots of land are pledged at Zirgyno st. 7, 9, 11, 13 Vilnius district. As soon as the house is registered, it will be secured by a primary mortgage. According to an independent real estate appraiser, the value of the mortgaged real estate is EUR 1 166 000.
The maximum amount we finance for the project is EUR 990 000 (EUR 128 300 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 of the Project will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-mortgage value ratio (LTV) at this stage is 70%.
Interest by investment amount:
- From EUR 100 to EUR 499 – 10.5%
- From EUR 500 to EUR 2 999 – 11%
- From EUR 3 000 – 11.5%
Important: individual investments are not cumulative.
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.
