We present a new phased financing project - "Kriviu 53". The raised funds will be used for the purchase of property. The amount to be raised at this stage is EUR 126 000.

The aim of the project:
The owner of the project buys an apartment, an unfurnished shelter/attic and a part of the land plot in Vilnius. The client's main goal is to purchase the remaining apartments in this building, then prepare a house repair project and equip modern apartments. After the project is fully implemented, it will be considered whether to keep the apartments for rent or sell them. If it is not possible to reach an agreement on the purchase of the remaining apartments, the owner of the project intends to carry out repair work on the purchased property and also consider the options of renting or selling. The loan is expected to be repaid from the sale of real estate projects under development and income from the company's assets, or from the income from the sale of this property. The decision to refinance the loan as the repayment term approaches is not ruled out.

About the project owner:
The owner of the project has 19 years of experience both in the development of real estate projects and in the organization and execution of construction works. It is an experienced construction contracting company that has contributed to the development of various real estate projects with a total area of 50 000 square meters. The company developed part of the objects as the project owner and participated as a contractor. Over the past two years, other companies managed by the company's shareholder have successfully implemented the 8-apartment project in Vilnius, and the 29-loft project "K125". At the moment, preparations are being made for the second phase of the "K125" project for the delivery of property and notarial transactions, most of the lofts have been sold.

The project owner has the status of a trusted developer:
Previously, the shareholder of the company financed and successfully implemented 5 real estate projects on the Profitus platform through two different companies, from which the investors earned a little more than EUR 75 000. The project owner always fulfilled the obligations of all project loans on time, some of the loans were repaid earlier than expected.

To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, an apartment of 71.50 square meters, the attic of 63.25 square meters and the 4.31 acre part of the plot of land belonging to the apartment are pledged at the address Kriviu st. 53, Vilnius. According to an independent real estate appraiser, the value of the mortgaged property is EUR 258 000. In addition, another company owned by the developer, UAB "Tinkasas", provides a guarantee for this loan.

Maximum planned amount of funding for the project: EUR 200 000. 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 499 EUR – 8%
- From 500 EUR to 2 499 EUR – 8.5%
- From 2 500 EUR to 4 999 EUR – 9%
- From 5 000 EUR to 7 499 EUR – 9.5%
- From 7 500 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.