We present a new staged financing project – „Papli tee 8, Tabasalu III", the funds of which will be allocated to the development of real estate. The amount to be raised at this stage is EUR 10 000.
About the project owner:
The project owner has experience in property development. The developer is also involved in short-term property rental: Junipervillas.
The aim of the project:
The owner of the project develops a 211.8 square meters modern residential house project on the purchased plot of land. The house will be two-story, with a flat roof and with energy lable B marking. The first floor has five bedrooms, a common spacious kitchen living area, utility room, storage room, two seperate bathrooms and sauna with front room. There will be a terrace, which is the length of the house. The master bedroom on the second floor will have a separate bathroom and walk-in closet.
Project progress:
The developer has used the funds raised in previous phases to carry out the following works: removal of trees in the surrounding area, installation of sewage and water pipes, and installation of underfloor heating pipes, raised borders. Currently, the registered completion rate is 15%. The developer will use the funds mobilised for this phase to continue the construction works.
Maximum planned amount of funding for the project: EUR 400 000 (EUR 115 800 already raised). 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. The loan-to-value (LTV) ratio including VAT at this stage is 59%.
Risk category (probability of default) of this project: 11.
Interest by investment amount:
– From EUR 100 to EUR 499 – 10.9%
– From EUR 500 to EUR 999 – 11.4%
– From EUR 1 000 to EUR 1 999 – 11.65%
– From EUR 2 000 – 11.9%
Important: investments made separately are not aggregated and cannot be pooled.
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.
