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Norku namai II

Profitus
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100 %
  • Status funded
  • Goal 50,000 EUR (€)
  • Raised 50,000 EUR (€)
  • Investors 115
  • Interest rate 8%
  • Loan To Value(LTV) 70%
  • Credit Duration 12 month

We present a new phased financing project – “Norku namai II”. The raised funds will be used for the development of the real estate project. The amount to be raised at this stage is EUR 50 000.

About the project:
The owner of the project is building 3 single-family houses with an area of 182.41 square meters on three plots of land, with a large terrace overlooking the pine forests. The house is on one floor with a garage for one car. According to the layout, there will be 3 bedrooms, a common kitchen and living area, 2 bathrooms and a storage room. The houses will be sold. The planned sales revenue of the entire project is from EUR 1 185 000.

Progress of the project:
With the funds raised in the first stage, the owner of the project finished gluing the facade clinker for all the houses, installed the roof screed, and the foundations of the concrete fence. In addition to the house, at the address Norku st. 9, installed an outdoor terrace, finished the wooden part of the facade, installed fence posts and installed a retaining wall to strengthen the slope from the forest.

About the project owner:
The project owner has 30 years of experience in the field of real estate development. During this period, more than 10 000 square meters houses have been developed.

To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, three houses with a total area of 547.24 square meters and three land plots are pledged at Norku st, Vilnius. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 665 000.

Maximum planned amount of funding for the project: EUR 400 000. 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 999 EUR – 7%
– From 1 000 EUR to 4 999 EUR – 7,5%
– From 5 000 EUR to 9 999 EUR – 8%
– From 10 000 EUR – 8,5%
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.

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