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Vievio slenis IV

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100 %
  • Status funded
  • Goal 55,000 EUR (€)
  • Raised 55,000 EUR (€)
  • Investors 98
  • Interest rate 10.5%
  • Loan To Value(LTV) 70%
  • Credit Duration 12 month

We present a new phased financing project – “Vievio slenis IV”. The raised funds will be used for the development of the real estate project. The amount to be raised at this stage is EUR 55 000.

Progress of the project:
Currently, on the plot of land at Linu st. 2, the frame of the house was built, the facade was insulated and plastered, the windows and doors were installed and the roof was covered, and on the plot of land at Linu st. 4, currently poured foundations, Linu st. 2 – built residential house, registered with 85% completion. A preliminary purchase-sale agreement has also been concluded for a house on a plot of land at the address Ievu st. 14. The house will be sold for EUR 142 100. The main purchase and sale agreement is intended to be concluded by October 31, 2023. Currently, the house, located at Ievu st. 14, is under construction, the masonry work of the house, which will be completed soon. The owner of the project intends to continue the development of the houses under construction for the funds of the fourth stage. As soon as the houses under construction are registered, they will be mortgaged in favor of the investors.

About the project:
The owner of the project purchased a plot of land near the town of Vievis a little more than three years ago, where he plans to develop a settlement of single-family houses in the long run. The massif consists of 34 land plots, including two for communication and one for the green zone, with a total area of 4.5665 ha. It is planned to build single-family houses on the land plots of the housing estate, the possibility of selling undeveloped plots to buyers who want to build their own houses is not ruled out. 

To secure the interests of investors, real estate is pledged with a primary mortgage:
To secure the interests of investors, 34 plots of land are pledged in Vilkabalai village near Vievis, on Ievu, Linu and Pievu streets. A residential house is also mortgaged at Linu st. 2. According to an independent real estate appraiser, the value of the property pledged to investors is EUR 268 100.

Maximum planned amount of funding for the project: EUR 500 000. 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 100 EUR to 499 EUR – 10.5%
– From 500 EUR to 999 EUR – 11%
– From 1 000 EUR to 2 499 EUR – 11.5%
– From 2 500 EUR to 4 999 EUR – 12%
– From 5 000 EUR – 12.5%
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.

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