D

LOAN SUMMARY | 5914 South Ada Street, Chicago, IL 60636

BORROWER

MBJ Real Estate Consultants Inc.
Michael Christian - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
16%
12 months
54.5%
$120,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Rehab
First Lien
$120,000
Repaid on 03/15/2019
Started on
Funded on
Repaid on
Matured on
01/12/2017
02/21/2017
03/15/2019
01/11/2018

FINANCIAL OVERVIEW

After Repair Value (ARV)
$220,000
Total Project Costs
$133,000
$87,000
GROUNDFLOOR
$120,000
$13,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$10,000
Purchase Date
08/28/2016
Loan To ARV
54.5%
Loan To Total Project Cost
90.2%

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
3
4
Skin-in-the-Game
2
10
Location
4
8
Borrower Experience
1
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$220,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

5914 SOUTH ADA STREET, CHICAGO, IL 60636
The Borrower intends to use the loan proceeds to complete a renovation to the property. Upon completion, the Borrower plans to refinance the property to repay the Groundfloor loan.

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • We advanced the Borrower the money it needed to begin renovation of this property on January 12, 2017 through a wholly owned subsidiary. The Borrower has now begun renovation. 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.
  • The Borrower has only undertaken one project in the past, and has not sold it yet. As such, the Borrower's average revenue, costs, and margins cannot be calculated.
  • Please consult the Offering Circular