We present a new phased financing project "Miestelenu namai II". The funds raised of this stage will be allocated for the real estate development. The amount to be raised is EUR 92 000.
About the project:
The owner of the project is developing a project of 10 residential houses near Aleksoto micro-district, Kaunas district. The area of each house is 79.99 square meters. At the moment, 8 houses have already been built and registered in the Registry Center in the project, of which notarized sales contracts have already been signed for 6. The developer will build the remaining 4 houses from the raised funds. The planned income from the sale of the remaining houses is EUR 460 000.
Progress of the project:
The project owner will allocate the raised amount for project development works. Currently, two houses need interior finishing work, the other two houses need to be built from the foundations. This loan will be repaid from the income from the sale of real estate.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of the investors, 2201/3968 part of a land plot with a total area of 39.68 ares with two houses with a total area of 159.98 square meters are pledged at Miestelenu st., Seniavos District, Kaunas District. A fully furnished apartment with a total area of 53.06 square meters is also pledged to the investors at Sestoku str. 45B-10, Kaunas. According to an independent real estate appraiser, the value of the mortgaged real estate is EUR 323 000.
The maximum planned amount of funding for the project is EUR 325 000. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV. Once the maximum LTV is reached, a new valuation of the property will 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.
Interest by investment amount:
- From EUR 100 to EUR 499 - 8.5%
- From EUR 500 to EUR 999 - 9%
- From EUR 1 000 to EUR 9 999 - 9.5%
- From EUR 10 000 - 10%
Important: investments made separately are not aggregated.
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.
