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LOAN SUMMARY | 411 21ST AVENUE SOUTH 411 21st Avenue South, Birmingham, AL 35205

06f3238c52c607803b644f38e4099e98421be768

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
11%
12 months
63.5%
$127,070
231
Purpose
Loan Position
Total Loan Amount
Loan Status
Acquisition & Renovation
First Lien
$127,070
Funded
Started on
Funded on
Repaid on
Matures on
05/30/2017
Pending
05/31/2018

LOAN UPDATES

Gf triangle
GROUNDFLOOR - 9/7/2017

The borrower advised that the property is listed on the market.

Gf triangle
GROUNDFLOOR - 8/8/2017

The borrower has advised that renovations have been completed.

Gf triangle
GROUNDFLOOR - 8/3/2017
The borrower has advised that the renovations will be completed within one week and intends to have the property listed on the market by mid August 2017.
Gf triangle
GROUNDFLOOR - 6/26/2017
The borrower has advised that roofing works have been completed and exterior has been painted.

FINANCIAL OVERVIEW

After Repair Value (ARV)
$200,000
Total Project Costs
$148,820
$51,180
GROUNDFLOOR
$127,070
$21,750
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$105,000
Purchase Date
TBD
Loan To ARV
63.5%
Loan To Total Project Cost
85.4%

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)
$200,000
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 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 June 01, 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.
  • Please consult the Offering Circular