- Sales: The properties under development in this stage have received strong interest – preliminary sale and purchase agreements have been signed for both residential houses.
- High Completion Rate: The residential houses under development are in the final construction stage – with a completion rate of 85%, enabling the forecast of full completion and further sales.
- Active Demand: Four residential houses in this land plot cluster have already been built and successfully sold.
About the Project:
The project owner is continuing the development of a single-family residential housing community near the town of Vievis. The project is progressing according to plan, and since the previous stage, the construction of the house at Ievų St. 9 is nearly completed, with a registered completion rate of 85% in the Real Estate Register. Additionally, the house on Linų St. 10 has also reached 85% completion and is registered accordingly. Preliminary agreements have been signed for the sale of both properties.
The estimated sales revenue is approximately EUR 280,992 (excluding VAT) for both houses. The funds raised during this stage will be used to complete the construction of the houses on Ievų St. 9 and Linų St. 10 and to settle accounts with suppliers. Additionally, construction work on other residential houses (Ievų St. 5, Pievų St. 5, and Pievų St. 7) will continue.
Loan Information:
This loan will be repaid from the proceeds of the sale of the residential houses under development. Interest payments to investors will be made from the project owner's operating income.
Maximum loan amount: EUR 500,000 (EUR 111,973 already raised). The project is financed based on the current valuation of the pledged assets until the maximum loan-to-value (LTV) ratio is reached. Once the maximum LTV is reached, a new property valuation must be carried out. Further financing stages will only be launched if the new valuation does not exceed the permitted LTV.
The funding goal is planned to be reached within 7 days, with a possible extension of up to 30 days if the full amount is not raised.
About the Profitus
Profitus is a crowdfunding and investment platform with a minimum investment of 100 euros. Profitus investments are secured by real estate mortgages, Your investment is secured by a first or second mortgage on the property, as well as by other collateral (e.g. a surety or guarantee). Transactions are managed through Lemonway, a regulated payment service provider.
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. Profitus operates with Lemonway, a regulated payment service provider.
