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LOAN SUMMARY | 6719 VON BAMPUS DR 6719 VON BAMPUS DR , ORLANDO, FL 32809

6d05937312d6df07b0791ef800d545e75a2ab9a4

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
8.5%
12 months
59.0%
$99,930
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Acquisition & Renovation
First Lien
$99,930
Repaid on 09/07/2017
Started on
Funded on
Repaid on
Matures on
01/18/2017
09/07/2017
01/19/2018

LOAN UPDATES

Gf triangle
GROUNDFLOOR - 8/24/2017
The borrower has advised that a new roof has been installed, and the project is now complete.
Gf triangle
GROUNDFLOOR - 8/3/2017
The borrower advised that the renovation work has been completed.
Gf triangle
GROUNDFLOOR - 7/10/2017
The borrower has advised that they are on track to complete this project in the next 30 days. 

The electrical, plumbing, drywall, installation of new windows, and remodeling the bathrooms have been completed.  

FINANCIAL OVERVIEW

After Repair Value (ARV)
$169,500
Total Project Costs
$110,000
$59,500
GROUNDFLOOR
$99,930
$10,070
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$85,000
Purchase Date
TBD
Loan To ARV
59.0%
Loan To Total Project Cost
90.8%

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
5
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$169,500
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 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 purchase this property on January 20, 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.
  • The Borrower has not undertaken any project in the past year. As such, the Borrower's average revenue, costs, and margins cannot be calculated.
  • Please consult the Offering Circular