- Experienced Developer: The project owner has a successful track record in the real estate market, having completed real estate projects totaling 3,000 m².
- Collateral: The fully developed guesthouse in Palanga is offered as collateral. The units are designed for young families, catering to the needs of today's market. The building has an A+ energy efficiency rating.
- Profitable Project: A clear project plan has been developed, and the projected profit is 204,000 EUR.
Interest by investment amount:
– From 100 EUR to 299 EUR – 8.70%
– From 300 EUR to 749 EUR – 9.20%
– From 750 EUR to 2 999 EUR – 9.70%
– From 3 000 EUR to 9 999 EUR – 10.20%
– From 10 000 EUR – 10.70%
Important: investments made separately are not aggregated and cannot be pooled.
About the Project:
The project owner seeks to refinance an existing loan. The refinancing has been planned in advance taking into account the project owner's need for longer-term financing. They have developed a residential complex of 18 apartments in Palanga, Vaivorykštės Street. Two of these guesthouses, which are offered as collateral, are rented out for short-term stays with a minimum daily rate of 160 EUR during the peak season. The occupancy rate during the peak season is 70% (generating approximately 10,300 EUR in revenue), and 40% during the off-season (generating approximately 17,400 EUR). The total annual rental income from both properties is 55,400 EUR.
Loan Information:
This loan will be covered by refinancing. Interest payments are made from short-term rental income.
Maximum financing amount: 174,000 EUR. The project is financed based on the current valuation of the collateralized property until the established maximum loan-to-value (LTV) ratio is reached. Upon reaching the maximum LTV, a new property valuation must be performed, and further stages of project financing will be announced and collected only if the established maximum LTV is not exceeded.
The target amount is planned to be raised within 7 days with the possibility of extending up to 30 days if the funds are not raised.
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.
