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LOAN SUMMARY | 3203 Atlantic Avenue Unit 102 &103, Wildwood, NJ 08260

BORROWER

Serenity Properties Inc.
Maura Brannagan - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
9%
12 months
60.7%
$94,070
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$94,070
Repaid on 12/09/2020
Started on
Funded on
Repaid on
Matured on
04/12/2019
06/25/2019
12/09/2020
04/11/2020

FINANCIAL OVERVIEW

After Repair Value (ARV)
$155,000
Total Project Costs
$105,070
$49,930
GROUNDFLOOR
$94,070
$11,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$50,000
Purchase Date
04/12/2019
Loan To ARV
60.7%
Loan To Total Project Cost
89.5%

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
4
4
Skin-in-the-Game
2
10
Location
4
8
Borrower Experience
3
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$155,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower was advanced the money it needed to purchase this property on April 12, 2019 by Groundfloor Finance Inc. (“Groundfloor,” “we,” “us,” or “our”) or a wholly-owned subsidiary of Groundfloor. The Borrower is now in possession of the property. If this offering is fully subscribed, Groundfloor will continue to administer and service the loan as further described in the 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 projects since its inception. As such, the Borrower does not have any Financial Data or Projects/Revenue to report for the applicable reporting periods.
  • Please consult the Offering Circular