We present the new stage of the phased financing project – „Dvibutis Tauro 1-osios g. IV". The owner of the project will use the funds to develop the property and refinance the existing loan. The amount to be raised at this stage is EUR 73 900.
About the project owner:
The project owner has experience in real estate development. The property owner has experience in real estate development and has completed various real estate development projects with a total area of 960 square metres.
About the project:
The owner of the project is developing a 268.1 square metre, two-storey, A+ energy class semi-detached house with a garage. The apartments in the semi-detached house have an area of 127.87 and 140.23 square metres. Each apartment has 4 rooms. There are city communications and underfloor heating throughout the house. The apartments are sold fully finished. Estimated sale proceeds approx EUR 458 000.
Project progress:
The project owner used the funds raised in the last phase to rebuild the walls, install a heat recovery system and complete the electrical work. According to the Centre of Registers, the registered completion rate is 85%. The 127.87 square metre apartment with a plot of land has already been sold. The developer will use the funds raised in this phase to refinance the existing loan and to continue with further interior finishing works.
The maximum financed amount: EUR 300 000 (EUR 89 000 Existing active portfolio). 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 62%.
Risk category (probability of default) of this project: 10/12.
Interest by investment amount:
– From EUR 100 to EUR 499 – 11.1%
– From EUR 500 to EUR 999 – 11.6%
– From EUR 1 000 to EUR 1 999 – 11.85%
– From EUR 2 000 to EUR 4 999 – 12,1%
– From EUR 5 000 – 12.6%
Important: investments made separately 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.
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.
