We present the third stage of the phased financing project "Lakstingalu namas". The project funds will be allocated for the development of real estate. The amount to raised at this stage is EUR 32 000.
About the owner of the project:
The owner has long years of experience in RE expansion. He already had investments on Profitus platform and successfully finished 3 projects (Dvibutis "Seimos kvartale", "Siaures sodai", "Komfortiski soduose"). For now the owner is in a process of finishing a few other projects crowdfunded on Profitus ("Vilniaus priemiescio loftai" and "Rapsu namas").
About the project:
The owner of the project is developing a 124.56 square meter, two-story, 4-room residential house. City communications are brought to the plot of land, underfloor heating will be installed throughout the house. The house will be sold fully furnished. Estimated sales revenue is around EUR 245 000.
Progress of the project:
The walls of the residential house under development are already completed. The roof is covered, windows are installed, wastewater treatment facilities are installed, and rain infiltration wells are installed. Interior installation work has started.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, a residential house that has been erected and a plot of land with an area of 5.55 acres are pledged at Lakstingalu sodu 4-oji str. 7, Vilnius. According to an independent real estate appraiser, the value of the mortgaged real estate is EUR 108 000.
Maximum planned amount of funding for the project: EUR 120 000. 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.
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.
