We present a new staged financing project – “Ferdinando namai”. The funds raised will be used to make the necessary tax payments and to develop the real estate project. The amount to be raised at this stage is EUR 73 000. This loan will be repaid by the proceeds from the sale of the property.
About the project:
The project owner will build 2 two-apartment houses in Ferdinando Ruscico st. in Vilnius. The apartments will be 120 square meters, one floor with a roof for a car. The two-apartment houses are intended to be sold with partial finishing and fully arranged well-being, but if necessary, the project owner will be able to furnish the apartments fully according to the wishes of the clients. The estimated sale price of one apartment when choosing partial finishing is EUR 160 000, the planned sales revenue of the whole project is EUR 640 000.
Progress of the project:
The land plots do not currently have construction permits, but the projects have been agreed with Vilnius City Municipality and construction permits will be issued once the infrastructure fee has been paid. For the funds raised in the first stage, the project owner plans to pay the infrastructure fee, purchase building materials for the foundation and masonry works, and start building the project after obtaining construction permits.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors two plots of land with a total area of 24.44 ares are pledged at Ferdinando Ruscico st. Vilnius. Two-apartment houses will be built on these plots. An additional 5.11 ares plot of leased land with a workshop is pledged at Gedimino st. 28A, Trakai. According to an independent real estate appraisal, the value of real estate pledged to investors is EUR 170 900.
Maximum planned amount of funding for the project: EUR 450 000. 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 – 8%
– From 1 000 EUR to 2 999 EUR – 8,5%
– From 3 000 EUR – 9%
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.