We present a new staged financing project "Namas Paluknio gatveje V", the funds of which will be allocated to the development of real estate. The amount to be raised at this stage is EUR 26 000.
The aim of the project:
The owner of the project is developing a residential building with an area of 136.32 square meters on a plot of land of 8.9 acres. Currently, the owner of the project has purchased a plot of land and poured the foundations of the house with his own funds. The house will be sold fully furnished. Estimated sales revenue is EUR 330 000.
Progress of the project:
With the funds raised in the first and second stages, the owner of the project raised all the walls of the house, installed windows, poured the stairs, started insulation work and registered the house, the completion of which is currently 52% according to the data of the Register Center. At the moment, the facade works have been completed in the project, electricity and plumbing have been installed, partitions have been installed, a leak test has been carried out, and terraces have been installed. A preliminary contract has already been signed, so financing is needed for the developer to finish the house to a bank-acceptable finish so the client can confirm financing.
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 8.9 acres and a residential house with an area of 136.32 square meters are pledged, at the Paluknio st. 61, Vilnius. According to an independent real estate appraiser, the value of the mortgaged real estate is EUR 226 000. In addition, this loan is guaranteed by Egidijus Jurėnas.
Maximum planned amount of funding for the project: EUR 150 000. 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.
Interest by investment amount:
- From 100 EUR to 499 EUR – 9,5%
- From 500 EUR to 999 EUR – 10%
- From 1 000 EUR to 2 999 EUR – 10,5%
- From 3 000 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.
