C

LOAN SUMMARY | 1825 Sunnyside Drive, Cayce, SC 29033

BORROWER

The Estates Group LLC
Kelli Carson Duah - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
12%
15 months
70.0%
$147,010
3571
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$147,010
Funded
Started on
Funded on
Repaid on
Matures on
09/05/2023
02/21/2024
Pending
12/04/2024

LOAN UPDATES

GROUNDFLOOR - 4/11/2024
Per borrower, there were some delays due to local municipality issues with requirements of additional permit but that has now been resolve and renovations are ongoing. They have set a tentative completion date of May 2024. Please keep in mind completion dates are subject to change.
GROUNDFLOOR - 3/6/2024

Per borrower, renovations are 65% complete.

GROUNDFLOOR - 2/5/2024

A draw has been approved. The project is now 52% complete.

GROUNDFLOOR - 1/26/2024

Per borrower, renovations are ongoing.

GROUNDFLOOR - 12/20/2023

Per borrower, renovations are ongoing.

GROUNDFLOOR - 11/16/2023

Per borrower, renovations are ongoing.

GROUNDFLOOR - 9/13/2023

Per borrower, renovations are ongoing.

FINANCIAL OVERVIEW

After Repair Value (ARV)
$210,000
Total Project Costs
$156,935
$53,065
GROUNDFLOOR
$147,010
$9,925
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$96,000
Purchase Date
09/05/2023
Loan To ARV
70.0%
Loan To Total Project Cost
93.7%

Grade Factors

The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
3
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)
$210,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

1825 SUNNYSIDE DRIVE, CAYCE, SC 29033
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 September 5, 2023 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 completed or sold any projects in the past year. As such, the Borrower's average revenue, costs, and margins cannot be calculated.
  • Please consult the Offering Circular