C

LOAN SUMMARY | 1643 Shamrock Drive, Burlington, NC 27215

BORROWER

Roadrunner Properties Inc.
David Hargrove - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
13.4%
12 months
69.9%
$122,400
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$122,400
Repaid on 03/09/2017
Started on
Funded on
Repaid on
Matured on
08/08/2016
08/11/2016
03/09/2017
08/07/2017

FINANCIAL OVERVIEW

After Repair Value (ARV)
$175,000
Total Project Costs
$136,000
$39,000
GROUNDFLOOR
$122,400
$13,600
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$130,000
Purchase Date
TBD
Loan To ARV
69.9%
Loan To Total Project Cost
90.0%

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

VALUATION REPORTS

As Complete (ARV)
$175,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

1643 SHAMROCK DRIVE, BURLINGTON, NC 27215
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 the Groundfloor loan.

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • A closing date has not been set yet for the purchase of this property. We will not originate a loan on this property until the closing process commences.
  • Although the Borrower has negotiated to purchase the property for the stated purchase price, there can be no assurances the Borrower will close on the acquisition at this price. However, the Borrower's Skin-in-the-Game will not change regardless of any changes to the closing price.
  • 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 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