About the project owner:
The project owner has been working in real estate development for more than 20 years. Most of the work carried out so far has been co-construction work for clients, renovation work, and in recent years successful construction activities in Sweden. The project owner has also built and successfully sold three houses on the land acquired in 2019.
About the project:
The owner of the project has purchased a land plot near Vievis town, where he plans to develop a single-family housing estate. The development consists of 34 plots of land, including two plots of land for transport and one plot of land for a green area, with a total area of 4.5665 hectares. The plots of land are used for the development of single-family dwellings. The owner of the project is also considering the possibility of selling the undeveloped land plots to buyers who would like to build their own houses. Preparation works for the access roads to the plots are currently underway, while projects for the removal of electricity poles from part of the plots are being prepared in parallel, and houses are being built on Linu and Ievu streets.
Project progress:
The owner of the project has already sold two developed residential buildings in Ievu and Linu streets. Currently, the frame of the house has been built, the facade insulated and plastered, windows and doors installed and the roof covered on the plot of land at 2 Linu Street. According to the data of the Centre of Registers, the registered completeness of the house is 62%. The developer will use the funds raised in this phase to continue further construction works.
Maximum amount to be financed: EUR 500 000 (EUR 156 930 already raised). The project is financed on the basis of the current valuation of the collateral until it reaches the maximum LTV of 70%. Once the maximum LTV has been reached, a new appraisal will have to be carried out and further rounds of financing for the Project will only be advertised and collected if the set maximum LTV is not exceeded. The Loan to Value (LTV) with VAT for this stage is 49%.
Interest by investment amount:
– From EUR 100 to EUR 499 – 10.5%
– From EUR 500 to EUR 999 – 11%
– From EUR 1 000 to EUR 1 999 – 11.25%
– From EUR 2 000 to EUR 7 499 – 11.5%
– From EUR 7 500 to EUR 49 999 – 12%
– From EUR 50 000 – 12.5%
Important: Individual investments are not aggregated and cannot be combined.
We plan to raise the amount within 7 days, with the possibility of extending it to 21 days in the event of non-collection.
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.
