C

LOAN SUMMARY | 458 Sycamore Street, New Lenox, IL 60451

BORROWER

TC2, LLC
Tom Coffey - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
11%
12 months
58.3%
$221,650
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$221,650
Repaid on 09/18/2018
Started on
Funded on
Repaid on
Matured on
05/22/2017
06/30/2017
09/18/2018
05/21/2018

FINANCIAL OVERVIEW

After Repair Value (ARV)
$380,000
Total Project Costs
$302,300
$77,700
GROUNDFLOOR
$221,650
$80,650
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$220,000
Purchase Date
05/22/2017
Loan To ARV
58.3%
Loan To Total Project Cost
73.3%

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
4
4
Skin-in-the-Game
4
10
Location
4
8
Borrower Experience
1
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$380,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

458 SYCAMORE STREET, NEW LENOX, IL 60451
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 our loan.

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower was advanced the money it needed to purchase this property on May 22, 2017 by Groundfloor Finance Inc. (“Groundfloor”) or a wholly-owned subsidiary of Groundfloor. The Borrower is now in possession of the property. If this offering is fully subscribed, the property will be assigned to Groundfloor Real Estate 1, LLC (“GRE 1,” the “Company,” “we,” “us,” or “our”) and Groundfloor (as GRE 1’s agent) will continue to administer and service the loan as further described in the Offering Circular.
  • The Principal has not undertaken any project in the past. As such, the Principal's experience, average revenue, costs, and margins cannot be calculated.
  • The Borrower has not undertaken any projects since its inception. As such, the Borrower does not have any Financial Data or Projects/Revenue to report for the applicable reporting periods.
  • 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