We present the third stage of the phased financing project "Nemirsetas gintarines kopos", the funds of which will be allocated to the development of real estate. The amount collected at this stage is 33,500 euros.
The aim of the project is:
The owner of the project is developing two- and four-room houses (a total of 6 property units) on a 12-acre plot of land, which has a building permit, with a total area of 320 square meters, at the address Klaipedos pl. 6H, Palanga. Apartments in a two-room house will be 60 square meters, and in a four-room house 50 square meters. The apartments will be sold partially furnished, but also fully furnished if needed. The planned sales revenue of the entire project is about 960,000 euros.
Progress of the project:
The owner of the project raised the walls of the first floor of the four-room and two-room houses with the collected funds.
To ensure the interests of investors, real estate is pledged with a primary mortgage:
As a means of security to protect the interests of investors, a plot of land with an area of 12.07 acres with the buildings on it, at the address Klaipedos pl. 6H, Palanga. According to an independent real estate appraiser, the value of the mortgaged real estate is 290,000 euros.
The maximum financed amount is 300,000 euros (110,500 euros have already been mobilized). The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV of 70%. Once the maximum LTV is reached, a new valuation of the property will have to be carried out, and the further stages of financing the project will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-mortgage ratio (LTV) at this stage is 50%.
Interest according to the size of the investment:
- From EUR 100 to EUR 499 - 9.5%
- From EUR 500 to EUR 1999 - 10%
- From EUR 2,000 to EUR 4,999 - 10.5%
- From EUR 5,000 to EUR 19,999 - 11%
- From EUR 10,000 - 11.5%
Important: individual investments are not cumulative.
We plan to collect the collected amount within 7 days with the possibility of extending it until the 21st. without fundraising.
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.
