We present the first phase of the new phased financing project “Faustinos namai”. The raised funds will be used for the further development of the reale estate project. The amount to be raised at this stage is EUR 45 500.
The aim of the project:
The owner of the project is developing the 15-apartment closed project “Faustinos namai”. In the first phase of construction, 3 semi-dteached houses and 1 single-family house will be built. On the Profitus platform, the project owner plans to finance the first stage of construction by mortgaging 4 plots of land with building permits where the project is being developed. At the moment, the foundations of all the houses in the project have been poured. The masonry works of semi-detached houses have been completed on land plots 13B and 13F. In the coming weeks, the roofs of the built houses will be covered, then the house measurements and registration will be done. More about the project here.
About the project owner:
UAB “JORE Invest” is engaged in the construction of individual residential houses. The company’s shareholders have accumulated more than 15 years of experience in the development of real estate projects, during this time they have completed more than 10 different projects that total area are 15 000 square meters.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, four plots of land with a total area of 41 acres are pledged at Sv. Faustina street, Skaidiskiu village, Vilnius district. Houses under construction that are not yet registered are mortgaged with an additional conditional mortgage. Once the home is registered, it will be secured by a primary mortgage. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 65 004.
Maximum planned amount of funding for the project: EUR 790 000. 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 999 EUR – 9%
– From 1 000 EUR to 4 999 EUR – 9.5%
– From 5 000 EUR – 10%
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.