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LOAN SUMMARY | 2717 EAST MADISON STREET 2717 East Madison Street, Baltimore, MD 21205

C64d1866a43e3a1abef9e37d107c611d6b1d7853

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
15.6%
6 months
55.0%
$44,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Acquisition & Renovation
First Lien
$44,000
Repaid on 01/18/2017
Started on
Funded on
Repaid on
Matured on
05/04/2016
05/19/2016
01/18/2017
11/19/2016

FINANCIAL OVERVIEW

After Repair Value (ARV)
$80,000
Total Project Costs
$55,000
$25,000
GROUNDFLOOR
$44,000
$11,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$45,000
Purchase Date
TBD
Loan To ARV
55.0%
Loan To Total Project Cost
80.0%

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
3
10
Location
4
8
Borrower Experience
1
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$80,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

The Borrower intends to use the loan proceeds to purchase and renovate the property. Upon completion, the Borrower intends to refinance the renovated property to repay the Groundfloor loan.

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower has not undertaken any projects in the past year. As such, the Borrower's average revenue, costs, and margins cannot be calculated.
  • The Principal has not undertaken or completed any projects in the past. As such, the Principal's average project revenue, costs and duration cannot be determined.
  • 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.
  • Please consult the Offering Circular