E

LOAN SUMMARY | 668 BRYAN STREET 668 Bryan Street, Atlanta, GA 30312

B898ad3b754da54ff3708c23eaa3e53d29f87fa6

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
19.4%
12 months
15.2%
$60,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
New Construction
Second Lien
$60,000
Repaid on 01/08/2016
Started on
Funded on
Repaid on
Matured on
08/13/2015
09/19/2015
01/08/2016
09/25/2016

FINANCIAL OVERVIEW

After Repair Value (ARV)
$395,000
Total Project Costs
$340,000
$395,000
GROUNDFLOOR
$60,000
$220,000
$60,000
0%
Skin-in-the-Game
First Lien Loan
Second Lien Loan
Cushion
Purchase Price
$80,000
Purchase Date
TBD
Loan To ARV
15.2%
Loan To Total Project Cost
0.0%

Grade Factors

The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
3
10
Quality of Valuation Report
1
4
Skin-in-the-Game
2
10
Location
5
8
Borrower Experience
5
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$395,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • A closing date has not been seen yet for the purchase of this property. We will not originate a loan on this property until the closing process commences.
  • 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.
  • There is no existing structure on this property, or if there is, it will be demolished.
  • The security interest will initially be in the value of the land, and will include any fixtures, and eventually the structure as it is completed.
  • New construction is complex and subject to permitting, and there may be delays or other unexpected issues.
  • We will be in a secondary lien position behind a primary lender.
  • In the event of a default, the senior lien holder has priority during the recovery process.
  • Please consult the Offering Circular. for further discussion of general risk factors.
CLOSING CONDITIONS
  • Loan is conditioned upon a clean title search subject to liens held by the primary lender and valid title insurance at the time of close.
DEVELOPER FEES
  • We generally charge borrowers an origination fee (which typically ranges between 2% and 6% of the principal loan amount) and a servicing fee (which typically ranges between 0.5% and 2%) for our services.
  • We do not take a "spread" on any part of the interest payments.
  • Borrowers may capitalize the cost of closing into the principal amount of their request. These closing costs typically range from $500 to $1500.
  • Unless otherwise limited by applicable law, we will charge a penalty of up to 2% for any extension made to the Borrower. See “Fees and Related Expenses” in the Offering Circular.
THE COMPANY PLAYED NO ROLE IN THE PREPARATION OF ANY OF THE VALUATION SOURCES OR ANY OTHER MATERIALS PROVIDED BY THE BORROWER. WHILE WE BELIEVE THE DATA CONTAINED THEREIN IS HELPFUL, WE DO NOT USE IT AS THE SOLE BASIS FOR A FUNDING DECISION.