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LOAN SUMMARY | 2642 Lockridge Avenue, Kansas City, MO 64128

BORROWER

S L Developers LLC
Cecil Hall - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
16%
12 months
57.5%
$69,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Rehab
First Lien
$69,000
Repaid on 04/16/2019
Started on
Funded on
Repaid on
Matured on
12/13/2016
01/03/2017
04/16/2019
12/12/2017

FINANCIAL OVERVIEW

After Repair Value (ARV)
$120,000
Total Project Costs
$71,000
$49,000
GROUNDFLOOR
$69,000
$2,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$0
Purchase Date
10/17/2016
Loan To ARV
57.5%
Loan To Total Project Cost
97.2%

Grade Factors

The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
5
10
Quality of Valuation Report
3
4
Skin-in-the-Game
1
10
Location
4
8
Borrower Experience
1
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$120,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

2642 LOCKRIDGE AVENUE, KANSAS CITY, MO 64128
The Borrower intends to use the loan proceeds renovate the property. Upon completion, the Borrower plans to refinance 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 December 13,2016 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 funding of this senior loan will be subject to a clean title search, and the resolution of any title or tax issues.
  • The Borrower is a new entity and does not have any assets or operating history.
  • The Borrower acquired the property through a quitclaim transaction. As such, the purchase price of the property is $0.
  • In a quitclaim transaction, the deed contains no warranties of title or ownership. Because we require title insurance, the loan will only be originated if the title insurance company is satisfied with the title condition of the property and the title policy is sufficient to cover any defects related to the quitclaim transaction. Please see "Closing Conditions" below.
  • The Principal has not completed any projects in the past. As such, the Principal's historical averages cannot be calculated.
  • Please consult the Offering Circular