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Apartamentai vaivoryksteje III

Profitus
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100 %
  • Status funded
  • Goal 24,400 EUR (€)
  • Raised 24,400 EUR (€)
  • Investors 69
  • Interest rate 9.5%
  • Loan To Value(LTV) 70%
  • Credit Duration 31 month

We present the third part of the financing of the project – “Apartamentai vaivoryksteje”. The amount raised will be used for real estate development. The amount to be raised is EUR 24 400. This loan will be repaid by rental income from the property.

Project owner:
The project owner has experience in real estate development. Has implemented 6 different projects with a total area of 2 103 square meters.

Progress of the project:
The project currently has an air-conditioning system, electricity, painted walls, a fence, stairs, doors, bathroom plumbing and flooring. There are also terraces.

The aim of the project:
The project owner is building 18 apartments of 40 square meters, with a total area of 720 square meters, at Vaivorykstes st. 32, Palanga. The estimated income from renting apartments only during the summer season is about EUR 227 000. If the rent is not justified, the apartments would be sold for EUR 3 000 per square meter.

To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors 2 buildings-guest houses with a total area of 80.29 square meters, with the parts of the land plot belonging to them (3 a) are pledged at Vaivorykstes st. 32, Palanga. According to an independent real estate appraiser, Ober-Haus, the value of the mortgaged property is EUR 249 000.

The investment term is up to 31 months, at this part the exact return date of the investment is provided on 07/12/2024

Interest by investment amount:
– From 100 EUR to 499 EUR – 9,5%
– From 500 EUR to 999 EUR – 10%
– From 1 000 EUR – 10,5%
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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