- Liquid Asset: The pledged real estate is located in the central part of Riga – an attractive and high-demand location. If necessary, the property could be rented or sold within 3–6 months, making it a highly liquid asset.
- Income-Generating Property: The pledged property currently generates stable rental income, while part of the apartments are used by the owner, ensuring a consistent cash flow.
- Experience in Similar Projects: The client has successful experience in developing similar rental projects in Riga – having completed around 400 m² of rental premises and currently finalizing a 1,100 m² project called “Etnas 5”, also financed through the PROFITUS platform.
About the Project:
The project owner pledges the owned property – three residential premises/apartments located in the central part of Riga, of which two currently generate rental income, while the third is used by the owner. The projected rental income for the project over a 15-month period is approximately EUR 14,663. The client aims to refinance an existing loan with another financial institution, and the remaining funds are planned to be allocated for working capital and the completion of the “Etnas 5” project.
“Etnas 5” is a project financed through the PROFITUS platform, where eight apartments on the second and third floors have already been rented out. Negotiations are currently underway for the long-term rental of three apartments and two upper “penthouse”-type apartments, while the remaining three apartments will be used for short-term rentals.
Loan Information:
This loan will be repaid through refinancing with another financial institution or from property sale proceeds. Interest to investors will be paid from rental income and/or company operating revenue.
The maximum planned Project financing amount secured by a second-ranking mortgage pledge: 112,000 EUR.
The fundraising period is 7 days, with a possible extension up to 30 days if the target amount is not reached.
About the Profitus
Profitus is a crowdfunding and investment platform with a minimum investment of 100 euros. Profitus investments are secured by real estate mortgages, Your investment is secured by a first or second mortgage on the property, as well as by other collateral (e.g. a surety or guarantee). Transactions are managed through Lemonway, a regulated payment service provider.
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. Profitus operates with Lemonway, a regulated payment service provider.
