We present the second stage of the phased financing project "Vienbutis Paluknio gatveje". The project funds will be allocated for the development of real estate. The amount to be raised at this stage is EUR 32 500.
About the project owner:
The project owner has experience in real estate development. Implemented different real estate development projects with a total area of 20 000 square meters.
About the project:
The owner of the project purchased a 5.14-acre plot of land with a building permit for the development of a 79.80-square-meter, one-story residential house. Currently, the residential house already has a covered roof. The house will be sold. Estimated sales revenue is about EUR 215 000.
Progress of the project:
With the funds raised in the first stage, the owner of the project finally paid for the plot of land, completed the masonry work and started covering the roof.
To ensure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, a residential house with an area of 79.80 square meters and a plot of land belonging to it with an area of 5.14 acres are pledged, at Paluknio st. 72, Vilnius. According to an independent real estate appraiser, the value of the mortgaged real estate is EUR 134 000.
Maximum planned amount of funding for the project: EUR 1 000 000. 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.
