C

LOAN SUMMARY | 17155 Wisconsin Street, Detroit, MI 48221

BORROWER

MPR 2000 Corp
Michael Rivait - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
11%
12 months
66.7%
$90,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$90,000
Repaid on 06/12/2017
Started on
Funded on
Repaid on
Matured on
11/30/2016
02/21/2017
06/12/2017
11/29/2017

FINANCIAL OVERVIEW

After Repair Value (ARV)
$135,000
Total Project Costs
$110,000
$25,000
GROUNDFLOOR
$90,000
$20,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$40,000
Purchase Date
12/02/2016
Loan To ARV
66.7%
Loan To Total Project Cost
81.8%

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)
$135,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

17155 WISCONSIN STREET, DETROIT, MI 48221
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
  • We advanced the Borrower the money it needed to purchase this property on December 2, 2016 through a wholly owned subsidiary. The Borrower is now in possession of the property. 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. 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.
  • Please consult the Offering Circular