- The owner of the project has developed a residential house at Pusyno st. 2, Bajorai, Vilnius district. Phase III will be dedicated to real estate development;
- The property is located in the village of Tintiniskes, a picturesque, gently hilly area, close to the Vilnoja stream and a small pond;
- The owner of the project has already invested EUR 77 600 of his own funds;
Project objective:
The project owner is developing a block of semi-detached dwellings in the village of Tintiniskes, Vilnius district. The development will consist of 5 semi-detached houses on five plots of land, totalling 10 units (apartments). The total area of all the houses to be developed is 1 300 - 1 390 square metres. The dwellings are planned to be single storey. This loan will be reimbursed from the proceeds of the sale of the property. The projected sales revenue for the whole project is around EUR 2 100 000.
*Photos 1 to 4 show a visualisation of the project, photos 7 to 9 show the project as implemented by the owner.
Project progress:
The project owner has poured the foundations of the first semi-detached house at 116 Tintiniskiu st. with the funds mobilised in the last phases. The walls of the building have started to be bricked up and the partial completion of the semi-detached house has been registered at the Registry Centre. The developer will use the funds raised in this phase to continue further construction works.
The maximum financed amount: EUR 915 000 (Existing active portfolio EUR 35 100). The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV of 85%. 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) without VAT at this stage is 50%.
Interest by investment amount:
– From EUR 100 to EUR 349 – 10.5%
– From EUR 350 to EUR 699 – 11%
– From EUR 700 – 11.5%
Important: investments made separately are not aggregated and cannot be pooled.
We plan to raise the amount within 7 days, with the option of extending it if we do not raise 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.
