Namai Rykantu g. IIIProfitus
We present a new financing project “Namai Rykantu g. III”. The funds of the project will be allocated to the development of real estate – the construction of 5 houses. The amount to be raised at this stage is EUR 84 000.
About the project owner:
The project owner’s company has been engaged in real estate development for 9 years. The owner has the status of a reliable developer and has experience in the construction of houses and two-apartment houses. Previously, the project owner successfully implemented 8 real estate projects on the Profitus platform and always paid interest on time and repaid loans to investors.
The aim of the project:
In the project, 5 residential houses of A++ class are being developed at Rykantu st. 2, 4, 6, 8, 10, Vilnius. The house under construction will have an area of 114.2 square meters, with a heated floor system and equipped outdoor terraces. Each house will own a 6-acre plot of land. The project will include an asphalted road and lighting. The house will be sold. Estimated sales revenue of the entire project is EUR 1 313 300.
Progress of the project:
From the first stage of financing, the owner of the project paid for the plots of land, registered the houses under construction, raised the walls of the houses, covered the roofs and installed the windows. In one house, the floor was concreted.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors 5 plots of land with a total area of 30.3 acres and construction of 5 residential houses has begun are pledged at Rykantu st. 2, 4, 6, 8, 10, Vilnius. All plots of land have building permits. According to an independent real estate appraiser, Ober-Haus, the value of the mortgaged property is EUR 501 000.
Maximum planned amount of funding for the project: EUR 700 000. 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.