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Bernardinu butai III

Profitus
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100 %
  • Status funded
  • Goal 71,600 EUR (€)
  • Raised 71,600 EUR (€)
  • Investors 217
  • Interest rate 9.9%
  • Credit Duration 12 month

We present the new stage of the phased financing project – „P00001101-3″.  The owner of the project will use the pooled amount for real estate development. The amount to be raised is EUR 71 600.

About the project owner: 
The project owner has experience in real estate and has developed different construction projects with a total area of 2 000 square metres. The developer has financed 2 projects on the Profitus platform („Girios butai” and „Truikis namai”). It pays interest to investors on time.

Project objective:
The project owner has acquired 7 apartments in a residential building with a total area of 314.35 square metres. The project owner intends to furnish the apartments in a modern style with all appliances and furniture. After completion of these works, the apartments will be sold. The estimated sales proceeds are EUR 746 000. This loan will be covered by the sales proceeds.

Project progress:
The project owner used the funds raised in previous phases to completely renovate the exterior façade, insulate the roof, install a gas boiler, and install the house’s heating system, acoustic insulation and electrical wiring. One apartment has already been sold. The developer will use the funds raised in this phase to continue the interior finishing works.

The maximum financed amount: EUR 360 000 (EUR 288 400 raised). The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV of 70%. Once the maximum LTV is reached, a new valuation of the property will have to be carried out, and the further stages of financing the project will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-value ratio (LTV) with VAT at this stage is 66%.

Risk category (probability of default) of this project: 10/12.

Interest by investment amount:
– From EUR 100 to EUR  499 – 9.9%
– From EUR 500 to EUR 999 – 10.4%
– From EUR 1 000 to EUR 1 999 – 10.65%
– From EUR 2 000 to EUR 4 999 – 10.9%
– From EUR 5 000 to EUR 9 999 – 11.4%
– From EUR 10 000 – 11.9%
Important: Individual investments are not aggregated and cannot be pooled.

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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