C

LOAN SUMMARY | 16402 Bohemian Hall Road, Crosby, TX 77532

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
10%
6 months
74.9%
$249,560
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$249,560
Repaid on 11/22/2021
Started on
Funded on
Repaid on
Matures on
08/05/2021
11/22/2021
11/22/2021
01/29/2022

LOAN UPDATES

GROUNDFLOOR - 12/8/2021

GROUNDFLOOR is pleased to announce that this loan has repaid in full. Please refer to your dashboard for repayment details.

GROUNDFLOOR - 11/17/2021

GROUNDFLOOR has received a payoff request good through November 23, 2021. Please keep in mind closing dates are subject to change.

GROUNDFLOOR - 11/10/2021

The borrower has advised that renovations are complete, and the property is currently under contract.

FINANCIAL OVERVIEW

After Repair Value (ARV)
$333,000
Total Project Costs
$249,560
$83,440
GROUNDFLOOR
$249,560
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$244,285
Purchase Date
07/30/2021
Loan To ARV
74.9%
Loan To Total Project Cost
100.0%

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
0
10
Location
4
8
Borrower Experience
5
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$333,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

16402 BOHEMIAN HALL ROAD, CROSBY, TX 77532
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 July 30, 2021 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 had late repayments, but has repaid all loans in full, with all interest and fees due.
  • Please consult the Offering Circular