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LOAN SUMMARY | 1901 WAKEFIELD DRIVE 1901 Wakefield Drive, Houston, TX 77018

8d5d046ad7fb1e387c690686e237a7f5e690d12f

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
11%
12 months
69.3%
$287,545
500
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$287,545
Funded
Started on
Funded on
Repaid on
Matured on
02/08/2017
Pending
02/09/2018

FINANCIAL OVERVIEW

After Repair Value (ARV)
$415,000
Total Project Costs
$319,500
$95,500
GROUNDFLOOR
$287,550
$31,950
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$265,000
Purchase Date
02/10/2017
Loan To ARV
69.3%
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
4
4
Skin-in-the-Game
2
10
Location
4
8
Borrower Experience
5
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$415,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

1901 WAKEFIELD DRIVE, HOUSTON, TX 77018
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 February 10, 2017 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.
  • 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 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