We present the fifth stage of the phased financing project "Pasiles namai". The project funds will be allocated for the development of real estate. The amount to raised at this stage is EUR 24 000.
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 the construction of 9 semi-detached houses, a total of 18 apartments. Apartments in semi-detached houses will have an area of 92-93 square meters, A++ energy class and one floor. Each apartment will own a 5-acre plot of land. Semi-detached houses will be sold partially finished. The planned sales revenue of the entire project is about EUR 3 800 000.
Progress of the project:
Since the first financing stage, many houses in the project have had facade clinker gluing work done, roof covering installed, internal walls and partitions plastered, internal water supply, heating pipes, concreted floors, windows installed, heating system installed, internal walls plastered, a rain drainage pipeline installed. At the moment, the works of installing the fence and the terrace are being continued, preparations are being made for the laying of paving stones.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, 9 plots of land with a total area of about 90 ares and 1 656 square meter 9 semi-detached houses are pledged at Pasiles st., Vilnius district. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 1 700 000.
Maximum planned amount of funding for the project: EUR 2 500 000. 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 – 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.
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.
