We present the second stage financing project - "Varkaliu kotedzai", the funds of which will be used for real estate development. The amount to be raised is EUR 60 000.
About the project owner:
The project owner has experience in real estate development. There are developed 14 property units (semi-detached and detached houses) with a total area of 1 120 square meters.
The aim of the project:
The project owner is building three semi-detached houses consisting of 6 property units. The semi-detached houses will be one-storey, the apartments in the semi-detached houses will be 80 square meters. The apartments will be for sale. The planned income from the sale of one apartment starts from EUR 85 000. Revenue from the sale of the entire project is estimated at around EUR 510 000.
Progress of the project:
Currently, the roof of one semi-detached house is already covered, the other house is already being prepared for roofing as well. The rest of the semi-detached house is already covered in masonry. Windows have also already been booked for all semi-detached houses, which will be installed shortly.
To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, a 7.38-acre plot of land with the buildings is pledged at Stoties st. 7A, Siauliai. The pledged assets are not being developed, they are other property owned by the company. According to an independent real estate appraisal, the value of real estate pledged to investors is EUR 247 200.
Maximum planned amount of funding for the project: EUR 120 000. The project is funded based on the current mortgage valuation until it reaches the maximum LTV set. LTV at this stage is 49%.
Interest by investment amount:
- From EUR 100 to EUR 499 - 10%
- From EUR 500 to EUR 999 - 10,5%
- From EUR 1 000 - 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.
