We present the new stage of staged financing project – „Vorupes sklypai V". The raised funds will be used for real estate development. The amount to be raised at this stage is EUR 111 300.
About the project owner:
The project owner has experience in real estate. Has implemented projects with an area of 1 000 square metres, including residential buildings in Papiskiu and Grendaves streets.
The aim of the project:
The owner of the project will allocate the raised funds for the construction of two, one-story residential houses, the total area of which will reach 360 square meters. Residential houses will be developed to full completion. According to the Centre of Registers, the currently registered completion rate of residential houses is 22%. After the completion of the construction works, the house will be sold. Estimated sales revenue of the entire project – EUR 600 000.
Progress of the project:
The owner of the project raised the walls of the house, covered the roofs and registered the house for the funds raised in the first stage. Paid for the completed construction work, the windows were installed and the roofing was installed for the funds raised in the second stage. After the third and the fourth phase, the electrical wiring has been installed, the garage doors have been fitted and the exterior facade has been finished.
Maximum planned amount of funding for the project: EUR 400 000 (EUR 217 000 already raised). 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. The loan-to-value (LTV) including VAT ratio at this stage is 70%.
Interest by investment amount:
– From EUR 100 to EUR 499 – 9.5%
– From EUR 500 to EUR 999 – 10%
– From EUR 1 000 to EUR 4 999 – 10.5%
– From EUR 5 000 to EUR 9 999 – 11%
– From EUR 10 000 – 11.5%
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.
