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Namai Lapese III

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100 %
  • Status funded
  • Goal 43,100 EUR (€)
  • Raised 43,100 EUR (€)
  • Investors 109
  • Interest rate 10%
  • Loan To Value(LTV) 70%
  • Credit Duration 12 month

We present the third stage of the phased financing project  „Namai Lapese. The raised funds will be used for the development of the RE project. The amount to be raised at this stage is EUR 43 100.

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. Currently, one preliminary purchase-sale agreement has been concluded for a house being built on a plot of land at the address Stadiono st. 5. The value of the contract is EUR 180 000.

Progress of the project:
Since the beginning of the financing of the project, the owner of the project has covered roofs of the houses under construction located on the plot of land at the address Stadiono st. 5. One house has completely completed the installation of facade decoration, the other is currently being finished. In both houses, the black floors were concreted inside, and the internal electrical installation was installed. On the plot of land, at Stadiono st. 3, brought the factory-made house frame, installed it and registered the house in the registry center. Currently, the completion of all three registered houses is 40%.

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 221 000.

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.

Interest by investment amount:
– From 100 EUR to 499 EUR – 10%
– From 500 EUR to 999 EUR – 10.5%
– From 1 000 EUR to 2 499 EUR – 11%
– From 2 500 EUR to 4 999 EUR – 11.5%
– From 5 000 EUR – 12%
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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