C

LOAN SUMMARY | 961 Hightower Trail, Oxford, GA 30054

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
10%
12 months
70.0%
$236,570
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$236,570
Repaid on 10/06/2021
Started on
Funded on
Repaid on
Matures on
12/17/2020
02/01/2021
10/06/2021
12/20/2021

LOAN UPDATES

GROUNDFLOOR - 9/1/2021

The borrower has advised the property is actively listed on the market, and the price has been reduced to encourage interest.

GROUNDFLOOR - 7/15/2021

The borrower has advised they have relisted the property with new photos.

GROUNDFLOOR - 5/10/2021

The borrower has advised the property is actively listed on the market.

GROUNDFLOOR - 3/1/2021

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

  • Demolition is complete.
  • Flooring is complete.
  • Interior painting is complete.
  • Door installation is complete.
  • Basement drywall repairs are complete.
  • Bathroom renovations are in progress.
GROUNDFLOOR - 2/2/2021

The borrower has advised the following renovations are complete:

  • Demolition is complete.
  • Gutter work is complete.
  • Siding is complete.
  • HVAC installation is complete.

FINANCIAL OVERVIEW

After Repair Value (ARV)
$338,000
Total Project Costs
$247,300
$90,700
GROUNDFLOOR
$236,570
$10,730
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$175,000
Purchase Date
12/21/2020
Loan To ARV
70.0%
Loan To Total Project Cost
95.5%

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

VALUATION REPORTS

As Complete (ARV)
$338,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

961 HIGHTOWER TRAIL, OXFORD, GA 30054
The Borrower intends to use the loan proceeds to purchase and renovate 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 purchase this property on December 21, 2020 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.
  • Please consult the Offering Circular