We present the second stage of the project "Griezles kotedzai", during which the amount collected is 30,000 EUR. Funds for this phase will be used to continue construction work.
After the first stage of financing, the developer received a construction permit, installed the necessary communications and began construction work, laid the foundations.
Griezles kotedžai is a residential project in Kaunas district. 3 cottages with a total area of 345 square meters are being built on a 15.08-acre plot of land. The cottages will be equipped with outdoor terraces, and after partial or full finishing, the cottages will be sold. The estimated selling price of the semi-finished cottage is EUR 950 - EUR 1,100 per square meter. All three cottages are currently reserved, with preliminary sales contracts worth € 415,000 signed.
Investors are pledged a plot of land in Kaunas district municipality, Uzliedžiai village, Griezles str. 145, in which the project is developed. In addition, real estate is pledged to investors - a 1.14 ha commercial land plot, at Kaunas district. Jonuciai village, Viaduko str. 7.
Maximum amount of project funding: EUR 250,000. This loan will be repaid from the proceeds of the sale of the property.
For investors at all stages, the property is pledged as a primary mortgage. The borrower will have the right to borrow additionally in other stages, provided that it does not exceed the maximum set LTV - 60%. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV. Once the maximum LTV is reached, a new valuation of the property will have to be performed and further stages of the Project financing will be announced and collected only if the set maximum LTV is not exceeded. At this stage, the loan-to-value ratio (LTV) is 52%.
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.
