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Elniu namas Viciunuose II

Profitus
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100 %
  • Status funded
  • Goal 80,000 EUR (€)
  • Raised 80,000 EUR (€)
  • Investors 225
  • Interest rate 8%
  • Loan To Value(LTV) 63%
  • Credit Duration 12 month

We present the second stage of the phased financing project “Elniu namas Viciunuose”. The raised funds will be used for the development of real estate. The amount tao be raised at this stage is EUR 80 000.

The aim of the project:
The project owner will allocate the raised amount to the development of real estate projects under development (LOFT206, Basanaviciaus patalpos, Dvibutis Pilaiteje, Daugiabutis Gimbuntienes 10A, Dvibuciai Vytenuose). This loan will be repay by the proceeds from the sale of these developed real estate projects, which will amount to EUR 4 000 000.

About the project owner:
The project owner has experience in real estate development. Implemented 7 different construction projects with a total area of 6 400 square meters. The project owner previously financed one real estate project on the Profitus platform. Investors are paid interest on time. He has already repaid part of the loan.

To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, a 175.59-square-meter residential building and a 4.85-acre plot of land are pledged at Elnių st. 6, Kaunas. In addition, 20-acre plot of land is pledged at M. Gimbutienes st. 10A, Kaunas. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 606 000. 

Maximum planned amount of funding for the project: EUR 378 400. 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 EUR 100 to EUR 999 – 8%
– From EUR 1 000 to EUR 2 999 – 8.5%
– From EUR 3 000 – 9%
Important: investments made separately are not aggregated.

We plan to collect the accumulated amount within 7 days with the possibility to extend it to 21 days without raising funds.

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