We present the second stage of the staged financing project "Stetiskiu namas". The raised funds will be used for the working capital of the company (for the development of the real estate project in Panevezys). The amount to be raised in the first stage is EUR 46 400.
The aim of the project:
The owner of the project is developing a construction project for four residential houses, at Ozeliu str., Panevezys district. All the houses under development will have an area of 80 square meters, each with an estimated selling price of EUR 220 000. The sales revenue of the entire project will reach EUR 880 000. At the moment, the project has already received a building permit and foundation casting works have started.
About the project owner:
The project owner has experience in the field of real estate project development. Since 2002 company have developed 14 different projects (a total of 27 residential houses) with an area of 3,300 square meters.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To protect the interests of investors, a newly built, fully furnished, 155-square-meter residential house with a 9-acre plot of land belonging to it are pledged, at V. Alanto st. 31, in Panevezys. According to an independent real estate appraisal, the value of real estate pledged to investors is EUR 249 000.
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.
