- Location of the pledged property: The loan is secured by two fully equipped apartments in Riga used for short-term rentals. The apartments are located near the city center of Riga, making the project attractive to potential tenants.
- Stable income: The properties generate approximately 15 000 EUR in annual net income. The Riga market features a well-developed tourism sector, making the property attractive in the short-term rental segment.
- Experienced developer: The project owner has renovated about 10 apartments in Lithuania and 4 in Riga and has experience managing short-term rental properties.
About the project:
The project owner has acquired two studio apartments in Riga (20.2 m² and 28.1 m²), designed for short-term rentals and currently generating active income.
The annual net rental income is approximately 15 000 EUR, after accounting for all expenses related to the rental. It is projected that over the next 1.5 years, the rental income will generate approximately EUR 22 500 in net income.
Raised funds will be used to refinance the existing PROFITUS loan, optimizing financial obligations and providing more time for property sales or refinancing with another financial institution.
Loan information:
Interest payment is expected from the project owner’s operational income, and the loan will be repaid from property sales or refinancing with another financial institution.
Maximum project financing amount: EUR 80 000.
The targeted amount is planned to be raised within 7 days, with the possibility of extending up to 30 days if the full amount is not collected.
About the Profitus
Profitus is a crowdfunding and investment platform with a minimum investment of 100 euros. Profitus investments are secured by real estate mortgages, Your investment is secured by a first or second mortgage on the property, as well as by other collateral (e.g. a surety or guarantee). Transactions are managed through Lemonway, a regulated payment service provider.
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. Profitus operates with Lemonway, a regulated payment service provider.
