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Misko panoramos namai III

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100 %
  • Status funded
  • Goal 47,900 EUR (€)
  • Raised 47,900 EUR (€)
  • Investors 112
  • Interest rate 9%
  • Loan To Value(LTV) 70%
  • Credit Duration 12 month

We present a third stage of the phased financing project “Misko panoramos namai”. The funds raised will be used for the development of a real estate project. The amount to be raised at this stage is EUR 47 900.

About the project:
The project owner is building 8 houses in Vilnius, Katisiu Street. The house will be one-story, 160 square meters, with a garage for one car. The houses for sale will be partially finished and fully furnished. The sale price of one house is EUR 250 000, the planned sales revenue of the whole project is EUR 2 000 000. One house is already reserved, the value of reservation is EUR 247 000.

Progress of the project:
Currently, the structural parts of two houses have already been built, the windows have been installed, the ceilings have been covered, the external and internal walls of three houses have been bricked, and the foundations of the remaining three houses have been poured. Water wells have also been installed, which will supply water to all eight houses, and power stations have been brought in. Building permits have been issued for all houses under construction.

To secure the interests of investors, real estate is pledged with a primary mortgage: 
To secure the interests of investors, 8 plots of land with a total area of 59,42 ares are pledged at Katisiu street in Vilnius. In addition, a conditional mortgage is pledged on Katisiu st. 18 and 24 residential houses under construction, not yet registered. As soon as the houses is registered, it will be mortgaged on the primary mortgage. Homes under construction on mortgaged plots will also be mortgaged to investors. According to an independent real estate appraisal, the value of real estate pledged to investors is EUR 239 900.

Maximum planned amount of funding for the project: EUR 1 000 000. 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. The loan-to-value ratio (LTV) in this phase 70%.

Interest by investment amount:
– From EUR 100 to EUR 999 – 9%
– From EUR 1 000 to EUR 4 999 – 9,5%
– From EUR 5 000 – 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.

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