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Namas Moluvenu 1 VI

Profitus
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100 %
  • Status funded
  • Goal 42,000 EUR (€)
  • Raised 42,000 EUR (€)
  • Investors 55
  • Interest rate 10.2%
  • Credit Duration 12 month

We present the new stage of staged financing project „P00001158-3″. The owner of the project will use the pooled amount to develop the property. The amount to be raised at this stage is EUR 42 000.

About the project owner: 
The developer has a lot of experience, having developed about 4 thousand square meters (as a manager) and about 6 thousand square meters of real estate projects under the company’s name. The developer developing the project previously received financing on the Profitus platform and implemented as many as 9 real estate projects. Projects were successfully completed, and investors were settled on time.

About the project:
The project owner is developing a semi-detached house on the acquired land plot. The dwelling will have an area of 250 square metres, energy class A+ and two storeys. The semi-detached house will have a land plot of 0.066 hectares. The apartments in the duplex will be sold fully finished. The expected sales income is approximately EUR 560 000.

Project progress:
With the funds raised in the last phase, the project owner registered the semi-detached house into 2 separate properties. According to the data of the Centre of Registers of Moluvenu st. 1-1, the current registered completion rate of the semi-detached house is 85%, while the actual completion rate based on the works already carried out is 87%. The apartment has completed construction, facade finishing has started and tthe interior finishing works are ongoing. In the apartment at Moluvenu st. 1-2, the structures are completed and the interior finishing works are ongoing. According to the data of the Centre of Registers, the apartment is currently registered as 85% complete, while the actual completeness is 84% based on the works already carried out. The developer will use the funds raised in this phase to continue further construction works.

The maximum financed amount: EUR 350 000 (EUR 206 500 already raised). 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-value ratio (LTV) with VAT at this stage is 67%.

Risk category (probability of default) of this project: 7/12.

Interest by investment amount:
– From EUR 100 to EUR 499 – 10.2%
– From EUR 500 to EUR 999 – 10.7%
– From EUR 1 000 to EUR 1 999 – 10.95%
– From EUR 2 000 to EUR 4 999 – 11.2%
– From EUR 5 000 to EUR 9 999 – 11.7%
– From EUR 10 000  12.2%
Important: investments made separately are not aggregated and cannot be pooled.

We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise funds.

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