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LOAN SUMMARY | WOODBRIAR CIRCLE (8 Units) #3, Tucker, GA 30084

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
6.4%
6 months
60.9%
$441,630
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Cash Out
First Lien
$441,630
Repaid on 01/13/2021
Started on
Funded on
Repaid on
Matured on
02/03/2020
08/05/2020
01/13/2021
01/13/2021

FINANCIAL OVERVIEW

After Repair Value (ARV)
$730,000
Total Project Costs
$565,130
$164,870
GROUNDFLOOR
$441,630
$123,500
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$418,500
Purchase Date
12/31/2018
Loan To Value
60.9%
Loan To Total Project Cost
88.3%

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

VALUATION REPORTS

As Complete (ARV)
$730,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

WOODBRIAR CIRCLE (8 UNITS) #3, TUCKER, GA 30084
The property is being used as collateral for a loan. No substantial work is being done on the property, and the majority of the collateral is represented by the Borrower's skin-in-the-game.

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower was advanced the money it needs to refinance this loan on February 28, 2019, by Groundfloor Finance Inc. ("Groundfloor," "we," "us," or "our") or a wholly-owned subsidiary of Groundfloor. The Borrower has now been refinanced for this property. If this offering is fully subscribed, Groundfloor will continue to administer and service the loan as further described in the Offering Circular.
  • The property was purchased as part of a group of eight units. This loan is secured by all eight units. 3595 Woodbriar Circle, Unit M, 3597 Woodbriar Circle, Unit E, 3601 Woodbriar Circle, Unit E, 3603 Woodbriar Circle, Unit F & N & P, 3605 Woodbriar Circle, Unit H, and 3607 Woodbriar Circle, Unit B, Tucker, GA, 30084.
  • The borrower has had late repayments, but has repaid all loans in full, with all interest and fees due.
  • Please consult the Offering Circular