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Girdavos 54 II

Profitus
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100 %
  • Status funded
  • Goal 50,000 EUR (€)
  • Raised 50,000 EUR (€)
  • Investors 105
  • Interest rate 8.5%
  • Loan To Value(LTV) 70%
  • Credit Duration 6 month

We present a new phased financing project – “Girdavos 54 II”. The raised funds will be used for the development of the real estate project. The amount to be raised at this stage is EUR 50 000.

About the project:
The owner of the project is developing a one-story semi-detached residential building with garages for one car. The semi-detached house is connected by garages. The area of the apartment in a semi-detached is 118 square meters with a garage, of which 93 square meters is the living area, and the remaining 25 square meters is the garage. The apartments will have three separate rooms, a common living room and kitchen space, and two bathrooms. The goal of the project owner is to sell the apartments fully furnished with all the necessary furniture. Currently, the registered completion of apartments is 85%. The expected selling price is EUR 250 000 for apartament, the total sales revenue of the project is EUR 500 000.

Progress of the project:
After the first round of financing, the owner of the project completed the finishing work on the facade and started covering the roof. They also installed a retaining wall and fence, laid pavers in the yard, poured black soil and prepared the yard for landscaping. Inside, they completed electrical installation work, installed air-water boilers and water filters in the apartments, started gluing tiles, installed bathrooms and toilets knots and finishes preparing the walls for painting. For the funds received, the client intends to complete the interior installation work and achieve 100% completion.

About the project owner:
The owner of the project has been engaged in mediation in the field of real estate since 2005, currently working as a broker in one of the largest real estate brokerage agencies in Lithuania. Previously developed reconstruction projects, apartment division, installation, and sale projects. Long-term experience and extensive knowledge of the Lithuanian real estate market allow us to expect a successful project implementation.

To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, a semi-detached residential house and a plot of land are pledged at Girdavos st., 54, Vilnius. According to the data of the Registry Center, the registered completion of apartments is 85%. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 384 000.

The maximum planned amount of funding for the project: is EUR 200 000. The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. When the 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 499 EUR – 8,5%
– From 500 EUR to 2 499 EUR – 9%
– From 2 500 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.

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