We present a new staged financing project - "Kunigiskes V72". The funds raised will be used for real estate development. The amount to be raised at this stage is EUR 100 000.
Project owner:
The project owner has experience in real estate development. Has implemented 6 different real estate development projects with a total area of 2 103 square meters.
The aim of the project:
The project owner is developing a 910 square meters, three-story,apartment building on a 15.22 acres land plot. The first staircase will be 15 leisure apartments and the second - 12 residential apartments. A total of 27 property units. Apartments will be 25-38 square meters, 2-3 rooms. It is also planned to install 20 parking spaces. The estimated revenue for the entire project is around EUR 1 980 000.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To protect the interests of investors, a plot of land with an area of 15.22 ares is pledged at Vaivorykstes st. 72G, Palanga. The plot of land has a building permit. According to an independent real estate appraiser, the value of real estate pledged to investors is EUR 210 000.
Maximum planned amount of funding for the project: EUR 1 010 000. The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. When maximum LTV is reached, a new valuation of the property will be required and further project funding stages will be announced and collected only if the maximum LTV set is not exceeded. LTV at this stage - 48%.
Interest by investment amount:
- From 100 EUR to 999 EUR – 9%
- From 1 000 EUR to 4 999 EUR – 10%
- From 5 000 EUR – 11%
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.
