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LOAN SUMMARY | 730 Roswell Avenue, Norfolk, VA 23504

BORROWER

Miller Real Estate Investment, LLC
George Miller - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
7.4%
12 months
28.1%
$45,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Rehab
First Lien
$45,000
Repaid on 10/05/2017
Started on
Funded on
Repaid on
Matured on
10/24/2016
11/02/2016
10/05/2017
10/23/2017

FINANCIAL OVERVIEW

After Repair Value (ARV)
$160,000
Total Project Costs
$120,000
$40,000
GROUNDFLOOR
$45,000
$75,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$70,000
Purchase Date
09/01/2016
Loan To ARV
28.1%
Loan To Total Project Cost
37.5%

Grade Factors

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

VALUATION REPORTS

As Complete (ARV)
$160,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

730 ROSWELL AVENUE, NORFOLK, VA 23504
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
  • 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 funding of this senior loan will be subject to a clean title search, and the resolution of any title or tax issues.
  • Please consult the Offering Circular