- The pooled funds will be used to purchase real estate;
- Significant experience of the project owner in similar projects;
- The mortgaged property is located in a good location in Vilnius - Naujamiestis;
- The developer intends to invest about 50% of its own funds in the project.
About the project owner:
MB "NT pajamos" is a newly established company dedicated to short-term (studio) rentals. The shareholder of the company - Tomas Grizas has been involved in similar activities in Latvia and Lithuania, and therefore has experience in both reconstruction and short-term rentals. The platform in Lithuania is called Houseys (Superseimininkas, UAB), which in 2019/2020 managed ~30 apartments, 7 of which belonged to them.
About the project:
The project will finance the purchase of a 25.65 square metre workshop (loft). The loft is currently registered as 100% complete according to the Centre of Registers. The project owner intends to furnish the loft in a modern way with all appliances and furniture. Once these works are completed, the loft will be rented out for short-term rentals. The loan will be covered by refinancing, or by the sale proceeds. Interest will be paid to the investors from the rental income, which is expected to amount to EUR 854.25 per month.
- Photos 5-6 show a visualisation of the project.
The maximum financed amount: EUR 94 500. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV of 65%. Once the maximum LTV is reached, a new valuation of the property will have to be carried out, and the further stages of financing the project will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-value ratio (LTV) with VAT at this stage is 61%.
Interest by investment amount:
– From EUR 100 to EUR 699 – 11%
– From EUR 700 to EUR 999 – 11.75%
– From EUR 1 000 to EUR 1 999 – 12%
– From EUR 2 000 to EUR 5 999 – 12.5%
– From EUR 5 000 to EUR 9 999 – 13%
– From EUR 10 000 – 13.6%
Important: investments made separately are not aggregated and cannot be pooled.
We plan to raise the amount within 7 days, with the option of extending it to 21 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.
