• Conveniently designed A++ class homes with spacious terraces and private space: Each apartment will have a fully landscaped 5-are plot of land where you can create a garden, children's playground or relaxation area.
• The house and the apartment in the semi-detached house have been sold: House and apartment in Faustina's House project are already for sale! The sale proceeds amount to EUR 357 000 incl. VAT. 
• 15 years of experience: The company has been operating in the real estate market for 15 years and has a deep understanding of market specifics and customer needs.
• Solid financial foundation: The project owner has already invested EUR 270 000 in land acquisition and project development, demonstrating a strong commitment to the project and its success.

About the project owner:
The project owner has extensive experience in the real estate industry. He has successfully completed around 20 residential projects. This experience gives him deep knowledge of the real estate market, the construction process, and effective project management.

Project objective:
The owner of the project is developing a 15-apartment gated project "Faustinos Namai". The first phase of construction consisted of 3 semi-detached houses and 1 detached house. More about the project here. On the Profitus platform, the owner of the project finances the first construction phase by mortgaging 3 plots of land with building permits on which the project is being developed. The total buildable area of the first phase is 709.90 m2, the apartments are 91 - 110 m2. The apartments in the duplexes will be sold fully finished. The estimated sales revenue is EUR 1 478 000 including VAT.

Progress of apartment construction according to the Centre of Registers:

• Apartment Faustinos st. 13B-1: 85% completed
• Apartment Faustinos st. 13B-2: 85% completed
• Apartment Faustinos st. 13E-1: 85% completed
• Apartment Faustinos st. 13F-1: 100% completed
• Apartment Faustinos st. 13F-2: 100% completed
  

The maximum amount to be financed: EUR 700 900 (existing active portfolio EUR 525 000). The project is financed on the basis of the current valuation of the collateral until it reaches the established maximum loan-to-value ratio of 70% LTV. Once the maximum LTV has been reached, a new valuation of the property will have to be carried out and further rounds of financing for the Project will only be advertised and collected if the set maximum LTV is not exceeded

Interest by investment amount:
– From EUR 100 to EUR 299 – 9.20%
– From EUR 300 to EUR 749 – 9.70%
– From EUR 750 to EUR 2 999 – 10.20%
– From EUR 3 000 to EUR 9 999 – 10.70%
– From EUR 10 000 – 11.20%
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.