We present a new phased financing project - "Vievios slenis". The raised funds will be used for the refinancing of the existing loan and the development of the real estate project. The amount to be raised at this stage is EUR 67 000.
The aim of the project:
The owner of the project will allocate part of the raised fund of the first stage (EUR 25 000) to the refinancing of the existing loan in the Credit Union, and the remaining amount will be allocated to the development of houses on the mortgaged land plots. Houses are currently under construction on Linu st. 2 and 4. A preliminary contract has been concluded on land plot Ievu st. 14 - the house will be sold for EUR 139 100. The main purchase and sale agreement is intended to be concluded by August 15, 2023. As soon as the houses under construction are registered, they will be mortgaged in favor of the investors.
About the project:
The owner of the project purchased a plot of land near the town of Vievis a little more than three years ago, where he plans to develop a settlement of single-family houses in the long run. The massif consists of 34 land plots, including two for communication and one for the green zone, with a total area of 4.5665 ha. It is planned to build single-family houses on the land plots of the housing estate, the possibility of selling undeveloped plots to buyers who want to build their own houses is not ruled out.
About the project owner:
The owner of the project has been working in the field of real estate development for more than 20 years. Most of the works carried out so far have been co-construction works for customers, renovation works, successful construction activities have been carried out in Sweden in recent years. Also, the owner of the project built and successfully sold three houses on the array of plots purchased in 2019.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, 34 plots of land are pledged at , Ievu, Linu and Pievu streets, Vilkabaliai village. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 150 100.
Maximum planned amount of funding for the project: EUR 500 000. 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.
Interest by investment amount:
- From 100 EUR to 999 EUR – 10.5%
- From 1 000 EUR to 2 499 EUR – 11%
- From 2 500 EUR to 7 499 EUR – 11.5%
- From 7 500 EUR – 12%
Important: investments made separately are not aggregated.
We plan to collect the accumulated amount within 7 days with the possibility to extend it to 21 days without raising 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.
