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LOAN SUMMARY | 1145 Lucile Avenue Southwest, Atlanta, GA 30310

BORROWER

SLYK Lucile, LLC
Shmuel Wolf - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
7.4%
12 months
60.9%
$260,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$260,000
Repaid on 09/08/2017
Started on
Funded on
Repaid on
Matured on
11/08/2016
01/22/2017
09/08/2017
11/07/2017

FINANCIAL OVERVIEW

After Repair Value (ARV)
$426,900
Total Project Costs
$320,000
$106,900
GROUNDFLOOR
$260,000
$60,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$235,000
Purchase Date
11/08/2016
Loan To ARV
60.9%
Loan To Total Project Cost
81.3%

Grade Factors

The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
5
10
Quality of Valuation Report
4
4
Skin-in-the-Game
3
10
Location
4
8
Borrower Experience
5
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$426,900
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

1145 LUCILE AVENUE SOUTHWEST, ATLANTA, GA 30310
The Borrower intends to use the loan proceeds to purchase and renovate the property. Upon completion, the Borrower plans to refinance the property to repay the Groundfloor loan.

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • We advanced the Borrower the money it needed to purchase this property on November 8, 2016 through a wholly owned subsidiary. The Borrower is now in possession of the property. If this offering is fully subscribed, the property will be assigned to us from the subsidiary, and we will continue to administer and service the loan per the terms of our Offering Circular. Some of the proceeds from the sale of LROs will be used to repay the subsidiary for the portion of the loan it has already advanced.
  • The renovation of the property may be extensive, and therefore subject to delays and other unexpected issues.
  • The renovation will require permitting, and permits may not be obtained on time or may be denied.
  • The Borrower is a new entity and does not have any assets or operating history.
  • Please consult the Offering Circular