C

LOAN SUMMARY | 401 Litchfield Street, Bay City, MI 48706

BORROWER

Prado Rentals LLC
Manuel Prado - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
11%
12 months
64.3%
$41,800
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$41,800
Repaid on 08/21/2017
Started on
Funded on
Repaid on
Matured on
12/28/2016
02/02/2017
08/21/2017
12/27/2017

FINANCIAL OVERVIEW

After Repair Value (ARV)
$65,000
Total Project Costs
$46,500
$18,500
GROUNDFLOOR
$41,800
$4,700
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$20,000
Purchase Date
TBD
Loan To ARV
64.3%
Loan To Total Project Cost
89.9%

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
2
10
Location
4
8
Borrower Experience
5
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$65,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

401 LITCHFIELD STREET, BAY CITY, MI 48706
The Borrower intends to use the loan proceeds to purchase and renovate the property. Upon completion, the Borrower plans to refinance the property to repay the Groundfloor loan.

PROPERTY PHOTOS