C

LOAN SUMMARY | 1484 Springleaf Circle Southeast, Smyrna, GA 30080

BORROWER

The Bryan Kelby Crabtree and Bethea Anne Crabtree Joint Living Trust
BRYAN Crabtree - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
13.4%
12 months
63.8%
$88,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Rehab
First Lien
$88,000
Repaid on 01/04/2017
Started on
Funded on
Repaid on
Matured on
10/25/2016
12/06/2016
01/04/2017
10/24/2017

FINANCIAL OVERVIEW

After Repair Value (ARV)
$138,000
Total Project Costs
$100,500
$37,500
GROUNDFLOOR
$88,000
$12,500
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$80,500
Purchase Date
09/11/2016
Loan To ARV
63.8%
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
4
10
Quality of Valuation Report
3
4
Skin-in-the-Game
4
10
Location
4
8
Borrower Experience
5
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$138,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

1484 SPRINGLEAF CIRCLE SOUTHEAST, SMYRNA, GA 30080
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 October 25, 2016 through a wholly owned subsidiary. The Borrower has now begun renovation. If this offering is fully subscribed, the loan and associated loan documents 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 funding of this senior loan will be subject to a clean title search, and the resolution of any title or tax issues.
  • The Borrower purchased the property for $80,500 and intends to use $68,000 of the proceeds from our loan to offset that amount of the purchase price of the property. Therefore, the Borrower is only receiving a "Skin-in-the-Game" score for the remaining $12,500 that is tied up in the project after completion of our loan.
  • Please consult the Offering Circular