We present the second stage of the project - "Siugzdinio G17". The raised funds will be used for real estate development. The amount to be raised at this stage is EUR 95 000. This loan will be repaid by the proceeds from the sale of the property.
The aim of the project:
The project owner is developing a 409,83 square meters building in Kaunas, Siugzdinio st. A two-storey building with an enclosed parking lot of 15 units is planned. There will be 3 property units in the building: commercial premises on the first floor and 2 apartments on the second floor. A preliminary purchase agreement has already been signed for the sale of the entire building. The sale value of the building is EUR 470 000.
Progress of the project:
Currently, the project is paved, the facade is finished and the building is registered.
About the project owner:
The project owner has experience in real estate development. Has implemented various real estate development projects with a total area of 4 700 square meters. Previously, Profitus financed and successfully implements another project on the platform ("Naujakuriu daugiabutis Kaune"). Interest is paid on time.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, a plot of land with an area of 10.03 ares and a 409,83 square meters building are pledged at V. Siugzdinio st. 17, Kaunas. According to an independent real estate appraisal, the value of real estate pledged to investors is EUR 404 800.
Maximum planned amount of funding for the project: EUR 210 000. 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 EUR 100 to EUR 999 - 10%
- From EUR 1 000 to EUR 2 999 - 10,5%
- From EUR 3 000 - 11%
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.
