B

LOAN SUMMARY | 4202 PARKLAND STREET 4202 Parkland Street, Pasadena, TX 77504

A7794f0b97f49c9ac3188cfab294e4c566d2d2b5

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
8%
9 months
61.4%
$90,930
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Acquisition & Renovation
First Lien
$90,930
Repaid on 08/25/2017
Started on
Funded on
Repaid on
Matures on
04/21/2017
08/25/2017
02/27/2018

LOAN UPDATES

Gf triangle
GROUNDFLOOR - 8/18/2017

Groundfloor has received a payoff request from the borrower for September 01, 2017. Please note that the payoff date is subject to change.

Gf triangle
GROUNDFLOOR - 8/3/2017
The borrower has advised that the property is under contract.  The closing is scheduled for August 24, 2017.

Please note, closing dates are subject to change.

FINANCIAL OVERVIEW

After Repair Value (ARV)
$148,000
Total Project Costs
$100,630
$47,370
GROUNDFLOOR
$90,930
$9,700
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$65,000
Purchase Date
05/30/2017
Loan To ARV
61.4%
Loan To Total Project Cost
90.4%

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)
$148,000
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 May 30, 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