We present the second stage of the phased financing project „Namai Lapėse“. The raised funds will be used for the development of the RE project. The amount to be raised at this stage is EUR 21 600.
About the project:
The owner of the project intends to build 5 single-family houses on two plots of land. Three houses will have an area of 80 square meters, two houses will have an area of 107 square meters. One-story houses, depending on its area, the house will have 3 or 4 bedrooms, a common kitchen and living room area, and two bathrooms. Estimated house sales prices start from EUR 1 650 per square meter, or from EUR 135 000 for a house of 80 square meters and from EUR 175 000 for a house of 107 square meters. All planned project sales income from EUR 755 000.
Progress of the project:
Since the start of the project financing, the project owner has covered the roofs of the 5 houses being built on the plot and the finishing of the facades are almost finished. They concreted the floors inside, started running the internal electrical installation. They poured the foundations of one house on land plot at Stadiono st. 3, and made the frame of the house in the factory. After the manufactured house is delivered, it will be installed, cadastral measurements will be made and the house will be registered in the registry center.
About the project owner:
The project owner has been working in the field of real estate development since 2018. During this period, more than 2 600 square meters of houses have been developed. Most of the objects under development, like this project, were located in the town of Lapiu, in the neighboring streets, where the sleeping areas of new houses are being formed.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To ensure the interests of the investors, two one-family houses and two plots of land with permits to build three more houses are pledged at Stadiono str. 3 and 5, Lapes, Kaunas district. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 142 000.
Maximum planned amount of funding for the project: EUR 450 000. 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.
We plan to collect the accumulated amount within 7 days with the possibility to extend it to 21 days without raising 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.
