We present a new funding project – „Savanoriu 206B”. The pooled funds will be used to refinance the existing loan and to develop a new property project. This decision will give the developer time to complete the project in Vytenai. The amount to be raised is EUR EUR 53 300.
About the project owner:
The project owner has experience in real estate development. Implemented 7 different construction projects with a total area of 6 400 square meters. The developer is financing 5 projects on the Profitus platform („LOFT206″, „Basanaviciaus patalpos”, „Elniu namas Viciunuose”, „Paslaugu patalpos Basanaviciaus al.”,„Butas Vaidoto G192E–2″). Investors are paid interest on time. He has already returned part of the funds in „LOFT206″ and „Basanaviciaus patalpos”.
About the project whose loan is being refinanced:
The owner of the project has acquired an industrial building in 2021. He converted it into 56 lofts of 30-60 square metres. The project owner designed the functional spaces and rooms, custom-made loft furniture, selected and installed the necessary appliances and equipment for comfortable living. In total, 25 lofts remain in the project, of which only 2 are planned for sale. As of February 2023, the remaining lofts have been rented out, generating a rental income stream of EUR 400-500 per loft per month. The projected sales revenue is EUR 250 000.
About the developing project:
The owner of the project is developing eight semi–detached and two single-family houses on nine plots of land. Currently, the 6th semi-detached house is being developed in the project. It is planned to develop all the remaining houses by the new year. Four houses are already reserved. Estimated income from the sale of all houses EUR 2 993 000.
The maximum financed amount is EUR 230 300. The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV of 70%. Once the maximum LTV is reached, a new valuation of the property will have to be carried out, and the further stages of financing the project will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-value ratio (LTV) with VAT at this stage is 17%.
Interest by investment amount:
– From EUR 100 to EUR 299 – 10.5%
– From EUR 300 to EUR 899 – 11%
– From EUR 900 – 11.5%
Important: Individual investments are not aggregated and cannot be pooled.
We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise funds.