B

LOAN SUMMARY | 208 Butler Road, Oak Ridge, TN 37830

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
9%
12 months
69.9%
$90,140
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$90,140
Repaid on 06/04/2020
Started on
Funded on
Repaid on
Matures on
12/05/2019
06/04/2020
12/15/2020

LOAN UPDATES

GROUNDFLOOR - 6/1/2020

The borrower has advised the property is under contract, with an expected closing date of June 4, 2020. Please keep in mind closing dates are subject to change.

GROUNDFLOOR - 5/13/2020

The borrower has advised that an offer was received, the inspection is scheduled this week and closing is scheduled for the beginning of June.

GROUNDFLOOR - 5/8/2020

The borrower has advised the project is complete and they are preparing to list it on the market.

GROUNDFLOOR - 5/5/2020

The borrower has advised the property will be actively listed on the market by the end of the week.

GROUNDFLOOR - 4/22/2020

The borrower has advised the interior renovations are complete, siding installation is in progress, and landscaping is scheduled. They anticipate the property to be listed in ten to fourteen days.

GROUNDFLOOR - 4/12/2020

The borrower has advised the following renovations are complete, or in progress:

  • Appliances have been delivered.
  • All door has been hung.
  • Siding, gutters, and garage door installation is progress.
GROUNDFLOOR - 4/6/2020

The borrower has advised the following renovations are complete, or in progress:

  • Appliances have been ordered.
  • Bathroom has been tiled.
  • All ceiling fans and light fixtures have been installed.
  • Doors are currently being installed.
GROUNDFLOOR - 3/26/2020

The borrower has advised that the following renovations are complete or in progress:

  • Kitchen cabinet installation is complete.
  • Bathroom tile installation is in progress.
  • Appliances will be ordered as soon as available.
GROUNDFLOOR - 3/6/2020

The borrower has advised that the flooring and baseboards have been installed.

GROUNDFLOOR - 2/25/2020

The borrower has advised that the project is on schedule.

GROUNDFLOOR - 2/17/2020

The borrower has advised that the drywall is complete and that the plumbing rough-in was passed by the City, but to pass the electrical inspection more outlets must be installed.

GROUNDFLOOR - 2/4/2020

The borrower has advised that the following work is complete, or in progress:

  • The windows have been installed.
  • The plumbing and electrical have been completed and the borrower is awaiting rough-in inspections from the City.
  • The interior painting has begun.
  • The new bathtub has been installed.
  • The cabinets have been ordered.
GROUNDFLOOR - 1/13/2020

The borrower has advised that the project is on schedule and the following works have been completed, or in progress

  • The roof installation is complete.
  • The house is demo'd and is ready for the electrical and drywall installation.
GROUNDFLOOR - 12/20/2019

The borrower has advised that the following works have been completed, or in progress:

  • The windows have been ordered.
  • The kitchen and bathroom has been demo'd.
  • The new roof is in progress.

FINANCIAL OVERVIEW

After Repair Value (ARV)
$129,000
Total Project Costs
$109,140
$19,860
GROUNDFLOOR
$90,140
$19,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$70,000
Purchase Date
TBD
Loan To ARV
69.9%
Loan To Total Project Cost
81.9%

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
3
10
Location
4
8
Borrower Experience
3
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$129,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY PHOTOS

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