We present the second stage of the phased financing project "Namas Svajoniu g.". The raised funds will be used for the development of real estate. The amount to be raised at this stage is EUR 26 000.
About the borrower:
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 previously received financing on the Profitus platform and has completed 9 real estate projects. Projects were successfully finished, and investors were paid back on time.
About the project:
The owner of the project is developing a 158.23 square meter, A++ class, two-story residential house with garage, in the Vilnius district. The house is already for sale, and the estimated sales income is EUR 349 000.
Progress of the project:
The owner of the project covered the roof, installed stairs, installed windows, doors, and yard gates with the funds raised for the first phase of financing. Brought out all communications. The value of the mortgaged property increased from EUR 166 000 to EUR 235 000 after the first stage of work.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To ensure the interests of investors, 5,63 acres of land with a building is pledged, at Svajoniu ave., Vilnius. According to an independent real estate appraiser, the value of the property pledged to investors is currently EUR 235 000.
Maximum planned amount of funding for the project: EUR 200 000. 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 2 999 EUR – 10,5%
- From 3 000 EUR – 11%
Important: investments made separately are not aggregated.
We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise funds.
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.
