B

LOAN SUMMARY | 1241 ANNAPOLIS WAY 1241 Annapolis Way, Grayson, GA 30017

07bbad042c68e3c98c0f7ca18b7ac97009144696

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
8.5%
12 months
64.9%
$303,210
373
Purpose
Loan Position
Total Loan Amount
Loan Status
Acquisition & Renovation
First Lien
$303,210
Funded
Started on
Funded on
Repaid on
Matures on
03/28/2017
Pending
03/30/2018

FINANCIAL OVERVIEW

After Repair Value (ARV)
$467,500
Total Project Costs
$393,212
$74,288
GROUNDFLOOR
$303,210
$90,002
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$260,586
Purchase Date
03/31/2017
Loan To ARV
64.9%
Loan To Total Project Cost
77.1%

Grade Factors

The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
4
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)
$467,500
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

The Borrower intends to use the loan proceeds to purchase and renovate the property. Upon completion, the Borrower intends to sell the property to repay our loan.

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower was advanced the money it needed to purchase this property on March 31, 2017 by Groundfloor Finance Inc. (“Groundfloor”) or a wholly-owned subsidiary of Groundfloor. The Borrower is now in possession of the property. If this offering is fully subscribed, the property will be assigned to Groundfloor Real Estate 1, LLC (“GRE 1,” the “Company,” “we,” “us,” or “our”) and Groundfloor (as GRE 1’s agent) will continue to administer and service the loan as further described in the Offering Circular.
  • 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.
  • Please consult the Offering Circular. for further discussion of general risk factors.
CLOSING CONDITIONS
  • Loan is conditioned upon a clean title search and valid title insurance at the time of close.
DEVELOPER FEES
  • We generally charge borrowers an origination fee (which typically ranges between 2% and 6% of the principal loan amount) and a servicing fee (which typically ranges between 0.5% and 2%) for our services.
  • We do not take a "spread" on any part of the interest payments.
  • Borrowers may capitalize the cost of closing into the principal amount of their request. These closing costs typically range from $500 to $1500.
  • Unless otherwise limited by applicable law, we will charge a penalty of up to 2% for any extension made to the Borrower. See “Fees and Related Expenses” in the Offering Circular.
SEC FILING INFORMATION
  • The series of LROs corresponding to this Project are offered pursuant to Post Qualification Amendment No.1 to the Groundfloor Real Estate 1, LLC Offering Circular dated April 14, 2017 (each, as amended and supplemented from time to time), including the documents incorporated by reference therein. You may access and review these documents on the Internal Filings Directory located on our Platform.
THE COMPANY PLAYED NO ROLE IN THE PREPARATION OF ANY OF THE VALUATION SOURCES OR ANY OTHER MATERIALS PROVIDED BY THE BORROWER. WHILE WE BELIEVE THE DATA CONTAINED THEREIN IS HELPFUL, WE DO NOT USE IT AS THE SOLE BASIS FOR A FUNDING DECISION.