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LOAN SUMMARY | 6924 ALYSSALAINE DRIVE 6924 Alyssalaine Drive, Richmond, VA 23231

4553fa073fb8407e70e62f1e32ab4f05531f8528

BORROWER


Rate
Projected Term
Loan to Value Range
Loan Amount
Investors
13.4%
12 months
67.1%
$188,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Acquisition & Renovation
First Lien
$188,000
Repaid on 08/25/2016
Started on
Funded on
Repaid on
Matures on
04/07/2016
04/22/2016
08/25/2016
05/13/2017

LOAN UPDATES

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GROUNDFLOOR - 8/1/2016

The Borrower has requested a pay-off letter good through 31 August 2016. We are seeking further updates on the current status of the works.

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GROUNDFLOOR - 6/28/2016

The project is in the final stages of renovation. 

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GROUNDFLOOR - 6/6/2016

The dining room and foyer have been repainted. In addition, the Borrower has installed a stone fireplace, a new refrigerator, and ceramic tile in the bathroom. 


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GROUNDFLOOR - 5/25/2016

The project is progressing efficiently. The rooms have been painted, the fixtures and faucets and have been upgraded to brushed nickel, and the wallpaper and paint is almost complete on the final bathroom. The Borrower has also installed custom cut blinds to add unique detail to the property. 

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GROUNDFLOOR - 4/22/2016

This loan was fully funded on 4/21/2016 by 182 investors. 

FINANCIAL OVERVIEW

After Repair Value (ARV)
$280,000
Total Project Costs
$213,000
$67,000
GROUNDFLOOR
$181,000
$32,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$199,000
Purchase Date
TBD
Loan To ARV
64.6%
Loan To Total Project Cost
85.0%

GRADE FACTORS

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

VALUATION REPORTS

As Complete (ARV)
$280,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY PHOTOS

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.