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LOAN SUMMARY | 71 WILLOW BEND DR NW, CARTERSVILLE, GA 30121 71 Willow Bend DR NW, Cartersville, GA 30121

D30355f01459489f2766eff454e24318019c270b

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
25.8%
6 months
19.2%
$25,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Renovation
Second Lien
$25,000
Repaid on 05/23/2016
Started on
Funded on
Repaid on
Matured on
09/23/2015
11/01/2015
05/23/2016
05/13/2016

FINANCIAL OVERVIEW

After Repair Value (ARV)
$129,900
Total Project Costs
$152,000
$49,900
GROUNDFLOOR
$25,000
$72,000
$55,000
0%
Skin-in-the-Game
First Lien Loan
Second Lien Loan
Cushion
Purchase Price
$80,000
Purchase Date
TBD
Loan To ARV
19.2%
Loan To Total Project Cost
31.3%

Grade Factors

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

VALUATION REPORTS

As Complete (ARV)
$129,900
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The loan is in a second lien position behind another lender. In the case of default, it is unlikely we will be able to recover the full amount of the loan.
  • The borrower expects to purchase the property for $80,000 and will use the proceeds from our loan for repair costs.
  • 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.
  • The acquisition will be subject to a clean title search, and the resolution of any title or tax issues.
  • The renovation 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.
  • Please consult the Offering Circular.