We present the second stage of the phased financing project "Dvibutis Ismoniu g.". The funds raised will be used for the development of a real estate project. The amount to be raised at this stage is EUR 82 500.
About the project:
The apartment will be two floors. The total area of each apartment is 120 square meters. On the ground floor there will be an anteroom, utility room, toilet and a common living room and living area. On the second floor - three bedrooms, two bathrooms and a wardrobe. The apartments are expected to be sold with partial finishing, reaching 85 percent. completeness. The estimated sales revenue of the project is about EUR 288 000.
Progress of the project:
After the first stage of financing, in the project was covered with exterior walls and internal partitions, a ceiling was installed, a roof structure and a roof covering were installed, windows and exterior doors were installed and the house was registered. Registered house completion 61%. Until the completion of the project, it is necessary to introduce communications, install engineering systems, perform facade and interior finishing works and arrange welfare.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors , a 272.11 square meter semi-detached house and an 8-acre plot of land are pledged at Ismoniu st. 26, Vilnius. According to an independent real estate appraiser, the value of the mortgaged real estate is EUR 230 000.
Maximum planned amount of funding for the project: EUR 100 000. 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.
Interest by investment amount:
- From 100 EUR to 499 EUR – 10,5%
- From 500 EUR to 2 999 EUR – 11%
- From 3 000 EUR to 9 999 EUR – 11,5%
- From 10 000 EUR – 12%
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.
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.
