The second stage of the stage project "Dvibutis Seimos kvartale". The funds raised will be used for further development of the project. The amount collected is EUR 28 000.
After the first stage of the project, finishing works were carried out, the walls of the building were insulated, the facade was installed, a gazebo was built, and the roof structures were changed. The separation of a two-apartment house into two separate property units - apartments - was registered. The currently registered completion of two apartment house apartments is 86% and 45%. Reservation agreements for both apartments are currently being signed. The estimated sale price of one two-apartment apartment is EUR 150 000.
To protect the interests of investors, a 7.81-acre plot of land with buildings is being pledged in Vilnius, Gvazdiku sodu str. 15-1 and 15-2. According to an independent real estate appraiser, the value of the mortgaged property is EUR 161 000. The project owner has experience in developing similar types of real estate projects and has developed projects with a total width of more than 15 000 square meters.
The maximum funding amount is EUR 132 000. The borrower will have the right to borrow additionally in other stages, provided that it does not exceed the maximum LTV of 70%. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV. The loan-to-value ratio (LTV) at this stage is 61%.
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.
