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LOAN SUMMARY | 33 Holmes Terrace, Freehold, NJ 07728

BORROWER

Serenity Properties Inc.
Maura Brannagan - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
9.6%
12 months
49.8%
$164,300
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$164,300
Repaid on 09/26/2017
Started on
Funded on
Repaid on
Matured on
10/11/2016
11/22/2016
09/26/2017
10/10/2017

FINANCIAL OVERVIEW

After Repair Value (ARV)
$330,000
Total Project Costs
$225,500
$104,500
GROUNDFLOOR
$164,300
$61,200
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$137,500
Purchase Date
TBD
Loan To ARV
49.8%
Loan To Total Project Cost
72.9%

Grade Factors

The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
6
10
Quality of Valuation Report
4
4
Skin-in-the-Game
4
10
Location
4
8
Borrower Experience
5
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$330,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

33 HOLMES TERRACE, FREEHOLD, NJ 07728
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
  • 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 is a new entity and does not have any assets or operating history.
  • Please consult the Offering Circular