- Extensive developer experience: The developer has 5 years of experience in the real estate sector and has developed 8 residential real estate objects with a total area of 3,200 m².
- Attractiveness of the property to buyers: The collateralized and sold property is located in Palanga, 1.5 km from the Baltic Sea, the project environment has fully developed infrastructure, which increases the property's attractiveness to buyers.
- Liquid collateral: The collateral property is 100% complete and located in an attractive part of Palanga, Hipodromo st.
About the project:
The developer will allocate the collected amount to the further development of the project located at Lygioji st. 11/ Ilgoji st. 60A in Palanga. Access to the property is via paved city streets. Developed engineering infrastructure. In terms of transport, the property is located in an attractive location - public transport connections with other parts of the city are good. The estimated selling price per 1 m² with partial finishing is about 2,000 EUR/m², the total estimated selling price of the entire project could reach - 1,440,000 EUR including VAT.
Project progress:
Currently, the project, for which the funds will be allocated, is under construction of 8 cottages, of which 4 have already been built, 4 are under construction and 2 notarial sales contracts have already been signed. In total, 720 m² of usable area will be equipped.
Loan information:
This loan will be covered by the proceeds from the sale of the mortgaged property. The planned selling price is about 550,000 EUR including VAT. This project is financed in stages.
The maximum amount of financing: 330,000 EUR (EUR 250,000 already raised). The project is financed according to the current valuation of the collateral until it reaches the set maximum loan-to-value ratio (LTV). Upon reaching the maximum LTV, a new property valuation will have to be carried out and further stages of project financing will be announced and collected only if the set maximum LTV is not exceeded.
We plan to raise the amount within 7 days, with the option of extending it to 30 days if we do not raise funds.
About the Profitus
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. Monetary operations on the platform are carried out in cooperation with Paysera and Trustly. The risk relating to the project and project owner are assessed on the basis of information provided by Creditinfo.
