C

LOAN SUMMARY | 191 Darwish Drive, McDonough, GA 30252

BORROWER

Belle Vue Enterprise LLC
Jean Altidor - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
11.5%
15 months
69.7%
$512,089
0
Purpose
Loan Position
Total Loan Amount
Loan Status
New Construction
First Lien
$512,089
Repaid on 12/23/2024
Started on
Funded on
Repaid on
Matured on
04/11/2024
09/03/2024
12/23/2024
07/10/2025

FINANCIAL OVERVIEW

After Repair Value (ARV)
$735,000
Total Project Costs
$602,489
$132,511
GROUNDFLOOR
$512,089
$90,400
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$50,000
Purchase Date
05/23/2023
Loan To ARV
69.7%
Loan To Total Project Cost
85.0%

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
2
10
Location
4
8
Borrower Experience
3
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$735,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

191 DARWISH DRIVE, MCDONOUGH, GA 30252
The Borrower intends to use the loan proceeds to complete a new construction. 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 needs to begin construction of this property on April 11, 2024 by Groundfloor Finance Inc. (“Groundfloor,” “we,” “us,” or “our”) or a wholly-owned subsidiary of Groundfloor. The Borrower has begun construction 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 construction of the property may be extensive, and therefore subject to delays and other unexpected issues.
  • The construction will require permitting, and permits may not be obtained on time or may be denied.
  • There is no existing structure on this property, or if there is, it will be demolished, and a new structure built in its place.
  • Please consult the Offering Circular