We present a new staged financing project "Houses M16 and M18", the funds of which will be allocated to the development of real estate. The amount collected at this stage is 44,700 euros.
About the project:
The owner of the project is developing two residential houses on two plots of land with a total area of 16.05 acres. Each house will be A+ class, single-story, and 163 square meters. The house will be sold fully furnished. The planned sales revenue for the entire project is about 700,000 euros.
Progress of the project:
In the project, the walls of both houses have already been erected, the roof covering and windows have been installed, the facade has been insulated, water pipes and sewage have been laid out, gutters have been installed, and terraces have been installed. After the last stages, the house at Moluvenu St. was sold. 18, Vilnius. Currently, the Project owner is actively working on the rest of the house. The house is currently about 70 percent complete.
To ensure the interests of investors, real estate is pledged with a primary mortgage:
As a means of security to protect investors' interests, a plot of land with an area of 8.02 acres is pledged, and the construction of a residential house has begun, at the address Moluvenu St. 16, Vilnius. According to an independent real estate appraiser, the value of the mortgaged real estate is 225,000 euros.
The maximum financed amount is EUR 500,000 (EUR 90,280.56 has already been mobilized). The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV of 70%. Once the maximum LTV is reached, a new valuation of the property will have to be carried out, and the further stages of financing the Project will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-mortgage value ratio (LTV) at this stage is 60%.
Interest according to the size of the investment:
- From EUR 100 to EUR 499 - 9.5%
- From EUR 500 to EUR 2,999 - 10%
- From EUR 3,000 to EUR 7,499 - 10.5%
- From EUR 7,500 – 11%
Important: individual investments are not cumulative.
We plan to collect the collected amount within 7 days with the possibility of extending it until the 21st. without fundraising.
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.
