Namas Toravos g. IIProfitus
We present the second stage of the phased financing project “Namas Toravos g.”. The funds of which will be allocated for development of real estate. The amount to be raised at this stage is EUR 40 800.
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.
The aim of the project:
The project owner will allocate the raised amount for the construction works of a 160.41 square meter, one-story residential house located on a plot of land of 8.3 acres. Currently, according to the data of the Registry Center, the registered completion of the house is 7%, the actual is 40%. A preliminary sales contract has already been signed for the house. The sales revenue of the project will be EUR 299 000.
Progress of the project:
The owner of the project with the funds raised for the first stage installed the roof structure, roof covering, insulated and reinforced the facade, installed windows, entrance doors, and garage doors.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, a residential house with an area of 160.41 square meters and an 8.3-acre plot of land are pledged, at Toravos str. 8, Vilnius. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 188 000.
Maximum planned amount of funding for the project: EUR 220 000. 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 – 9.5%
– From 500 EUR to 2 999 EUR – 10%
– From 3 000 EUR – 10.5%
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.