- The pooled funds will be used for real estate development;
- The mortgaged property is located in an attractive location in Vilnius, close to a forest;
- The owner of the project has developed real estate projects of approximately 519 square metres;
- Owner of the property has already invested EUR 160 000 of his own funds.
About the project owner:
Director of the company has developed different real estate projects (Markuciu st. 38 Vilnius, Svenceles st. 18C Svencele, Saltinelio st. 51 Klaipeda, Jazminu st. 22 Klaipeda).
About the project:
The developer will pool the money to build two houses in Vilnius. A building permit has already been obtained. The planned size of the dwellings is 142.27 square metres and 83.44 square metres, of which one is a dwelling house and the other is a workshop, with a 28.84 square metre sauna to be built next to the dwelling house. There is also a 14,15-acre plot for the dwelling house, a 6,17-acre plot for the workshop and a 3,14-acre plot for the shared access. The foundations of all buildings are currently registered. The construction works are scheduled to be completed in December 2024. Estimated sales proceeds of EUR 765 000. The loan will be covered by the sale proceeds and the interest to the investors will be covered by the other proceeds of the sale.
* Photos 1-6 show a visualisation of the project.
The maximum planned amount of financing for the Project: EUR 290 000. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV of 70%. Once the maximum LTV has been reached, a new valuation of the property will be carried out and further rounds of financing for the Project will only be advertised and collected if the maximum LTV is not exceeded. The loan-to-value (LTV) ratio with VAT at this stage is 52%.
Interest by investment amount:
– From EUR 100 to EUR 499 – 10.5%
– From EUR 500 to EUR 999 – 11%
– From EUR 1 000 to EUR 1 999 – 11.25%
– From EUR 2 000 to EUR 9 999 – 11.5%
– From EUR 10 000 – 12%
Important: Individual investments are not aggregated and cannot be combined.
We plan to raise the amount within 7 days, with the possibility of extending it to 21 days in the event of non-collection.
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.
