C

LOAN SUMMARY | 123 Williams Street, Trion, GA 30753

BORROWER

Becoll Property Solutions LLC
Chiedu Collins - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
16%
12 months
56.3%
$45,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$45,000
Repaid on 05/23/2017
Started on
Funded on
Repaid on
Matured on
09/16/2016
10/11/2016
05/23/2017
09/15/2017

FINANCIAL OVERVIEW

After Repair Value (ARV)
$80,000
Total Project Costs
$63,000
$17,000
GROUNDFLOOR
$45,000
$18,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$17,000
Purchase Date
01/31/2016
Loan To ARV
56.3%
Loan To Total Project Cost
71.4%

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
3
4
Skin-in-the-Game
5
10
Location
4
8
Borrower Experience
4
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$80,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

123 WILLIAMS STREET, TRION, GA 30753
The Borrower intends to use the loan proceeds to acquire and complete a renovation to the property. Upon completion, the Borrower intends to sell the property to repay the Groundfloor loan.

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • A closing date has not been set yet for the purchase of this property. We will not originate a loan on this property until the closing process commences.
  • Although the Borrower has negotiated to purchase the property for the stated purchase price, there can be no assurances the Borrower will close on the acquisition at this price. However, the Borrower's Skin-in-the-Game will not change regardless of any changes to the closing price.
  • 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 funding of this senior loan will be subject to a clean title search, and the resolution of any title or tax issues.
  • Under our Grading Algorithm, the loan grades as a C with an interest rate of 13.4%; however, the Borrower has elected to pay a higher interest rate to make it more marketable and to help ensure that the Project receives funding.
  • Please consult the Offering Circular