D

LOAN SUMMARY | 156 Fairfield Place NW, Atlanta, GA 30314 [2nd Payment Position]

BORROWER

TXO Investment Group LLC
Elijah Thompson - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
14%
12 months
63.0%
$451,020
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$451,020
Repaid on 11/23/2020
Started on
Funded on
Repaid on
Matured on
07/19/2019
11/05/2019
11/23/2020
07/22/2020

FINANCIAL OVERVIEW

After Repair Value (ARV)
$1,790,000
Total Project Costs
$1,380,000
$410,000
GROUNDFLOOR
$0
$1,127,560
$252,440
0%
Skin-in-the-Game
First Payment Position
Second Payment Position
Cushion
Purchase Price
$1,130,000
Purchase Date
07/19/2019
Loan To ARV
63.0%
Loan To Total Project Cost
81.7%

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
5
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$1,790,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower was advanced the money it needed to purchase this property on July 19, 2019 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 repaid one loan late, but repaid that loan in full, with all interest and fees due.
  • The property was purchased as part of a group of two notes. Each loan is for and secured by one individual loan.
  • There will be three loans on this project, each representing subsequent draws. The first two loans are $338,270 each. The last loan is subordinate to the first two loans and is for $451,020. The Financial Overview box represents the aggregate amount of all loans to be secured by this property, giving a complete financial picture of the project.
  • We will be in a first lien position as primary lender.
  • The event of default on one Groundfloor note secured by this property will trigger default on all Groundfloor notes secured by this property. However, LRO holders investing in LROs corresponding to notes secured by this property have different priorities in any recovery. Holders of LRO series 156 Fairfield Place NW #1 and 156 Fairfield Place NW #2 share first priority and any recovery will be distributed on a pro rata basis to these LRO holders first. Holders of LRO Series 156 Fairfield Place NW #3 have a subordinated priority, and any remaining recovery will be distributed to them if and when LRO holders of the first priority notes are made whole.
  • Please consult the Offering Circular