B

LOAN SUMMARY | 125 Country Club Drive, Edenton, NC 27932

BORROWER

Athol Holdings, LLC
Derek Stonebraker - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
8.5%
12 months
57.6%
$288,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$288,000
Closed
Started on
Funded on
Repaid on
Matured on
01/20/2017
05/22/2017
01/19/2018

FINANCIAL OVERVIEW

After Repair Value (ARV)
$500,000
Total Project Costs
$328,640
$171,360
GROUNDFLOOR
$288,000
$40,640
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$310,000
Purchase Date
TBD
Loan To ARV
57.6%
Loan To Total Project Cost
87.6%

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
2
10
Location
4
8
Borrower Experience
5
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$500,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

125 COUNTRY CLUB DRIVE, EDENTON, NC 27932
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 our loan.

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower was advanced the money it needed to purchase this property on January 19, 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 and Groundfloor (as GRE 1’s agent) will continue to administer and service the loan per the terms of 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.
  • The Borrower has only undertaken one project in the past, and has not sold it yet. As such, the Borrower's average revenue, costs, and margins cannot be calculated.
  • Please consult the Offering Circular