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Norku 10

Profitus
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100 %
  • Status funded
  • Goal 80,000 EUR (€)
  • Raised 80,000 EUR (€)
  • Investors 167
  • Interest rate 9%
  • Loan To Value(LTV) 70%
  • Credit Duration 9 month

We present the new project  Norkų 10The raised funds will be used for the development of the RE project. The amount to be raised at this stage is EUR 80 000.

About the borrower:

UAB “Terasita” has been constructing individual residential houses for almost 6 years. The company provides general contracting services, builds houses for private individuals to order, or carries out commissioned construction works for legal entities, performing all co-construction works – from foundation pouring to complete housing installation with all furniture. and the experience accumulated by the shareholder over 10 years – about 10,000 square meters of various houses are built.

The aim of the project:
The owner of the project is developing 166,88 square meters of a one-apartment residential building. The house has a garage for one car. At the moment, the masonry works have been fully completed, and the ceilings, windows, and doors have been installed. For the funds received, the owner of the project will finish the construction work of the house up to partial finishing – install the facade decoration and roof covering, and install engineering and communication systems inside

 

About the project:

The comfortably-planned home features a separate master bedroom area with a private bathroom and a spacious walk-in closet that opens onto a large patio in the courtyard. A common living room and kitchen area are designed in the central part of the house, and next to them are two additional bedrooms. A preliminary purchase and sale agreement has been concluded for the sale of this house, the sale price is 315,000 euros. According to the preliminary contract, the house is scheduled to be sold to the buyer by June 20, 2023.

To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors a one-apartment residential building is pledged, at Norku st., Vilnius. Currently, the house is registered as 50% complete. with an area of 166,88 square meters. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 170 000.  

The maximum planned amount of funding for the project: is EUR 150 000. The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. When the 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 999 EUR – 9%
– From 1000 EUR to 4 999 EUR – 9,5%
– From 5 000 EUR 10%
 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.

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