- The pooled funds will be used for property development, refinancing and working capital;
- Extensive experience of the project owner in similar projects;
- The property to be developed is located in a new-build development of detached and semi-detached residential buildings;
- The project owner has already invested EUR 400 000 of his own funds.
About the project owner:
The project owner has been active in the construction sector for 10 years and has developed more than 3 000 square metres of real estate projects. In the last years, 6 duplexes have been sold in Avizieniu Village, Vaikystes st., Vilnius district.
About the project:
The project will finance the development of a 316.68 square metre semi-detached house at 27 Vaikystes Street, Vilnius. Currently, the registered completion rate of the semi-detached house, according to the data of the Centre of Registers, is 55% and the actual completion rate is 42%. The owner of the project intends to furnish the semi-detached house to partial completion and landscaping. The three mortgaged apartments in two semi-detached houses will be sold. The estimated sales revenue for the whole project is EUR 645 000 including VAT.
The next stage will finance the purchase of a plot of land at Kriauciunu Village, Vilnius city municipality, where the project owner plans to build 5 semi-detached dwellings.
The maximum financed amount: EUR 1 800 000. 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-value ratio (LTV) with VAT at this stage is 34%.
Interest by investment amount:
– From EUR 100 to EUR 499 – 6.7%
– From EUR 500 to EUR 749 – 7.2%
– From EUR 750 to EUR 999 – 7.45%
– From EUR 1 000 to EUR 2 999 – 7.7%
– From EUR 3 000 to EUR 4 999 – 8.2%
– From EUR 5 000 to EUR 9 999 – 8.7%
– From EUR 10 000 – 9.2%
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.
