We present the second stage of the financing project - "Volterio slenis". The funds raised will be used for the development of a real estate project. The amount to be raised at this stage is EUR 60 000. This loan will be repaid by the proceeds from the sale of the property.
The aim of the project:
The project owner is developing a project of 5 residential houses (two two-apartment and three residential houses) (a total of 7 property units) with a total area of 583.13 square meters at E. Volterio st. 122 and E. Volterio st. 130, Kaunas. Houses 67 - 91 square meters with 3 bedrooms and 2 floors. The sale price of the house with partial finishing is about EUR 1 560 per square meter. The planned sales revenue for the whole project is about EUR 910 000. 4 preliminary sales agreements have already been signed. There are currently three vacant property units left (residential house and two apartments in a two-apartment house).
Progress of the project:
At present, the roofs of all the houses are covered, and the insulation of the facades is being completed. In four of the seven property units, the electrical installation, plumbing and underfloor heating are fully installed. All buildings have windows and doors. Houses registered.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors 2 plots of land with a total area of 25.34 ares, with 7 property units (two semi-detached houses and three houses) with a total area of 593.23 square meters are pledged, at E. Volterio st. 122 and 130, Kaunas. As an additional security measure, a 50.85 ares plot of land is pleded at Baltu st. 11, Palanga. According to an independent real estate appraisal, the value of real estate pledged to investors is EUR 475 000.
Maximum planned amount of funding for the project: EUR 200 000. 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 2 999 EUR – 8%
- From 3 000 EUR – 9%
Important: investments made separately are not aggregated.
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.
