B

LOAN SUMMARY | 1605 West Boston Boulevard, Detroit, MI 48206

BORROWER

RH-BAH LLC
Ayanna Smith - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
8.5%
12 months
37.2%
$82,670
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Rehab
First Lien
$82,670
Repaid on 12/22/2017
Started on
Funded on
Repaid on
Matured on
01/31/2017
03/07/2017
12/22/2017
01/30/2018

FINANCIAL OVERVIEW

After Repair Value (ARV)
$222,000
Total Project Costs
$141,317
$80,684
GROUNDFLOOR
$82,670
$58,647
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$5,000
Purchase Date
07/07/2016
Loan To ARV
37.2%
Loan To Total Project Cost
58.5%

Grade Factors

The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
7
10
Quality of Valuation Report
4
4
Skin-in-the-Game
7
10
Location
4
8
Borrower Experience
1
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$222,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

1605 WEST BOSTON BOULEVARD, DETROIT, MI 48206
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 January 31, 2017 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 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 property was purchased for $5,000. The borrower has already completed $63,000 of renovation work on the property, and is receiving credit for that amount. The Borrower intends to use $12,660 of the proceeds from our loan to offset some of the works completed on the property. Therefore, the Borrower is only receiving a "Skin-in-the-Game" score for the remaining $55,340 that is tied up in the project after completion of our loan.
  • The Borrower is a new entity and does not have any assets or operating history.
  • Please consult the Offering Circular