Namai Jaunystes g.Profitus
We present a new staged financing project “Namai Jaunystes g.”, the funds of which will be allocated to payment for land plots and development of real estate. The amount to be raised at this stage is EUR 202 000.
About the borrower:
The developer has a lot of experience, having developed about 4 thousand square meters (as a manager) and about 6 thousand square meters of real estate projects under the company’s name. The developer previously received financing on the Profitus platform and has completed 9 real estate projects. Projects were successfully finished, and investors were paid back on time.
The aim of the project:
The owner of the project is buying 11 plots of land in Vilnius with a total area of 1.0063 hectares. In them, the developer plans to develop the construction of 11 semi-detached houses, a total of 22 apartments. Apartments in semi-detached houses will have an area of 125 square meters, energy class A++ and two floors. Each apartment will own a 5-acre plot of land. Semi-detached houses will be sold partially furnished. The planned sales revenue of the entire project is about EUR 4 417 600.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, 11 plots of land with a total area of 1.0063 hectares are pledged at Jaunystes st., Vilnius. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 404 000.
Maximum planned amount of funding for the project: EUR 2 500 000. 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 – 8,5%
– From 500 EUR to 4 999 EUR – 9%
– From 5 000 EUR to 9 999 EUR – 9,5%
– From 10 000 EUR to 24 999 EUR – 10%
– From 25 000 EUR – 11%
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.