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LOAN SUMMARY | 3597 Woodbriar Circle #1, Tucker, GA 30084

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
6.3%
6 months
65.0%
$292,500
825
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Cash Out
First Lien
$292,500
Funded
Started on
Funded on
Repaid on
Matures on
11/19/2020
12/07/2020
Pending
05/18/2021

FINANCIAL OVERVIEW

After Repair Value (ARV)
$450,100
Total Project Costs
$450,000
$100
GROUNDFLOOR
$292,500
$157,500
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$450,000
Purchase Date
11/05/2020
Loan To Value
65.0%
Loan To Total Project Cost
92.0%

Grade Factors

The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
10
10
Quality of Valuation Report
4
4
Skin-in-the-Game
6
10
Location
4
8
Borrower Experience
5
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$450,100
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

3597 WOODBRIAR CIRCLE #1, 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 November 19, 2020 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 properties are being used as collateral for a loan. No substantial work is being done on the properties, and the majority of the collateral is represented by the Borrower's skin-in-the-game. As a result, there will be little to no "cushion" and the Borrower will repay the Groundfloor loan by selling the property or refinancing it.
  • This is a collateral loan secured by five properties, 3597 Woodbriar Circle, Unit D, Tucker, GA 30084, 3597 Woodbriar Circle, Unit G, Tucker, GA 30084, 3599 Woodbriar Circle, Unit D, Tucker, GA 30084, 3601 Woodbriar Circle, Unit F, Tucker, GA 30084, and 3605 Woodbriar Circle, Unit D, Tucker, GA 30084. The ARV represents the combined value of all properties.
  • The Borrower has repaid loans late, but repaid the loans in full, with all interest and fees due.
  • The Borrower has not completed any projects in the past year. As such, the Borrower's average revenue, costs, and margins cannot be calculated.
  • Please consult the Offering Circular