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Aido tako namai X

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100 %
  • Status funded
  • Goal 50,000 EUR (€)
  • Raised 50,000 EUR (€)
  • Investors 56
  • Interest rate 8%
  • Loan To Value(LTV) 70%
  • Credit Duration 5 month

We present the tenth stage of the phased financing project “Aido tako namai”. The raised funds will be used to refinance the existing loan and for the further development of the project. The amount to be raised at this stage is EUR 65 000.

Aido tako namai:
A block of A+ energy-efficiency houses designed by the well-known architect Lauryns Zakevicius. The layout of the interior spaces of the house is ideally adapted for a comfortable family life: two bedrooms, two bathrooms, and a storage room inside the house and, if necessary, in the inner yard. Special attention is paid to the landscape in order to ensure the maximum privacy of the residents: hilly “dunes” are formed, higher or denser vegetation, paths, and exceptional lighting. The territory is closed, entry is through an automatic gate, internal streets are paved, and the block is surrounded by a fence.

The aim of the project is:
The owner of the project is building 7 semi-detached houses in Palanga, on Aido Street. The total construction area is 966 square meters. The apartments in two-room houses will be one-story with a mansard, with an average area of 69 square meters. The apartments will be sold partially furnished and in good condition. The selling price of one apartment is about EUR 240 000. The estimated sales revenue of the entire project is about EUR 3 380 000.

Progress of the project:
Since the beginning of financing, the owner of the project has built two semi-detached houses on Aido take 40 and registered them in the registry center, the houses are 85% complete, one apartment has been sold. At the moment, the works of equipping the apartments are underway. Maintenance works are also underway – the level of the plot has been raised to the required height, the soil has been poured and compacted, the yard has been leveled and prepared for planting.

To ensure the interests of investors, real estate is pledged with a primary mortgage:
As a means of security to protect the interests of investors, three apartments and 2 plots of land are pledged at Aido tak. 40, 42 and 44, Palanga. Houses under construction that are not yet registered are mortgaged with an additional conditional mortgage. Once the home is registered, it will be secured by a primary mortgage. According to an independent real estate appraiser, the value of the real estate mortgaged to investors is EUR 990 000.

The maximum planned amount of Project financing: EUR 1 200 000. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV. Once the maximum LTV is reached, a new valuation of the property will have to be carried out and the further stages of financing of the Project will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-mortgage value ratio (LTV) at this stage is 48%.

Interest by investment amount:
– From EUR 100 to EUR 499 – 8%
– From EUR 500 to EUR 999 – 8.5%
– From EUR 1 000 to EUR 2 499 – 9%
– From EUR 2 500 to EUR 4 999 – 9.5%
– From EUR 5 000 – 10%
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.

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