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LOAN SUMMARY | 5260 South Landings Drive #1703, Fort Myers, FL 33919

BORROWER

Calcap, LLC
David Helm - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
9.6%
12 months
61.0%
$372,090
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$372,090
Repaid on 12/11/2017
Started on
Funded on
Repaid on
Matured on
12/12/2016
02/14/2017
12/11/2017
12/11/2017

FINANCIAL OVERVIEW

After Repair Value (ARV)
$610,000
Total Project Costs
$413,434
$196,566
GROUNDFLOOR
$372,090
$41,344
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$337,834
Purchase Date
12/12/2016
Loan To ARV
61.0%
Loan To Total Project Cost
90.0%

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

VALUATION REPORTS

As Complete (ARV)
$610,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

5260 SOUTH LANDINGS DRIVE #1703, FORT MYERS, FL 33919
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 December 12, 2016 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.
  • 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 has not completed any projects in the past year. As such, the Borrower's average revenue, costs, and margins cannot be calculated.
  • Please consult the Offering Circular