D

LOAN SUMMARY | 356 Osage St, Park Forest, IL 60466

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
13%
12 months
64.9%
$80,780
63
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Rehab
First Lien
$80,780
Funded
Started on
Funded on
Repaid on
Matured on
12/17/2018
01/15/2019
Pending
12/17/2019

FINANCIAL OVERVIEW

After Repair Value (ARV)
$124,500
Total Project Costs
$107,580
$16,920
GROUNDFLOOR
$80,780
$26,800
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$83,500
Purchase Date
12/18/2018
Loan To ARV
64.9%
Loan To Total Project Cost
75.1%

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

VALUATION REPORTS

As Complete (ARV)
$124,500
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

356 OSAGE ST, PARK FOREST, IL 60466
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 Borrower was advanced the money it needed to begin renovation of this property on December 18, 2018 by Groundfloor Finance Inc. (“Groundfloor,” “we,” “us,” or “our”) or a wholly-owned subsidiary of Groundfloor. The Borrower has now begun renovation 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 Principal has not undertaken any project in the past. As such, the Principal's experience, average revenue, costs, and margins cannot be calculated.
  • The Borrower has not completed any projects since inception. As such, the Borrower's average revenue, costs, and margins cannot be calculated.
  • Please consult the Offering Circular