C

LOAN SUMMARY | 978 Pinson Boulevard, Rockledge, FL 32955

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
13.4%
9 months
54.7%
$75,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Rehab
First Lien
$75,000
Repaid on 08/29/2017
Started on
Funded on
Repaid on
Matured on
10/20/2016
11/02/2016
08/29/2017
07/19/2017

FINANCIAL OVERVIEW

After Repair Value (ARV)
$137,000
Total Project Costs
$123,600
$13,400
GROUNDFLOOR
$75,000
$48,600
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$69,900
Purchase Date
07/29/2016
Loan To ARV
54.7%
Loan To Total Project Cost
60.7%

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
7
10
Location
4
8
Borrower Experience
1
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$137,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

978 PINSON BOULEVARD, ROCKLEDGE, FL 32955
The Borrower intends to use the loan proceeds to complete a renovation to the property. Upon completion, the Borrower intends to sell 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.
  • The Borrower is a new entity and does not have any assets or operating history.
  • The property was purchased for $69,900. The Borrower intends to use $25,000 of the proceeds to offset that amount of the purchase price of the property. The Borrower has already completed $3,700 worth of work, and is receiving credit for this. Therefore, the Borrower is only receiving a "Skin-in-the-Game" score for the remaining $48,600 that is tied up in the project after completion of our loan.
  • Please consult the Offering Circular