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Namai Lapese V

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100 %
  • Status funded
  • Goal 53,000 EUR (€)
  • Raised 53,000 EUR (€)
  • Investors 170
  • Interest rate 10%
  • Loan To Value(LTV) 70%
  • Credit Duration 12 month

We present the fifth 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 53 000.

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 house and a part of the plot have been sold and part of the loan of EUR 58 025 has been returned.

Progress of the project:
The project is developing rapidly. From the start of financing in November 2022. the owner of the project has already built three houses. Stadion st. For house, at Stadiono st. 11, which is 80% complete, the facade decoration has already been completed, the internal electrical installation has been carried out, the plaster partitions have been installed, all rooms are fully plastered, and painting work is underway. For house, at Stadiono st. 3, the facade decoration has been completed, the roof has been installed, the communication inlets have been brought out inside and the floor has been concreted, plaster has been prepared inside the house for forming the rooms. For house, at Stadiono st. 5, the frame is installed and the registration of the house is done. The installation of windows and doors, facade decoration, and interior installation work will be started soon.

To secure the interests of investors, real estate is pledged with a primary mortgage:
To ensure the interests of the investors, three one-family houses and two plots of land with permits to build three more houses are pledged at Stadiono str. 3, 5 and 11 Lapes, Kaunas district. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 276 000.

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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