B

LOAN SUMMARY | 1440 Allene Avenue Southwest, Atlanta, GA 30310

BORROWER

TYO 1412 Allene LLC
Tristain O'Donnell - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
8.5%
12 months
59.6%
$140,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Rehab
First Lien
$140,000
Repaid on 06/08/2017
Started on
Funded on
Repaid on
Matured on
12/15/2016
02/16/2017
06/08/2017
12/14/2017

FINANCIAL OVERVIEW

After Repair Value (ARV)
$235,000
Total Project Costs
$190,000
$45,000
GROUNDFLOOR
$140,000
$50,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$110,000
Purchase Date
11/02/2016
Loan To ARV
59.6%
Loan To Total Project Cost
73.7%

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

VALUATION REPORTS

As Complete (ARV)
$235,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

1440 ALLENE AVENUE SOUTHWEST, ATLANTA, GA 30310
The Borrower intends to use the loan proceeds to 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
  • We advanced the Borrower the money it needed to begin renovation of this property on December 15, 2016 through a wholly owned subsidiary. The Borrower has now begun renovation. 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.
  • The Borrower is using $93,000 of the loan proceeds to pay off an existing loan that was used to acquire the property. Groundfloor will assume the first lien position. The rest of the loan proceeds will be put towards the renovation of the property, much like an acquisition and renovation loan.
  • 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.
  • Please consult the Offering Circular