C

LOAN SUMMARY | 555 Rogers Drive and 2728 Pierce Drive, Macon, GA 31204

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
11%
12 months
65.0%
$102,740
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$102,740
Repaid on 01/12/2022
Started on
Funded on
Repaid on
Matured on
09/23/2020
11/02/2020
01/12/2022
09/22/2021

FINANCIAL OVERVIEW

After Repair Value (ARV)
$158,000
Total Project Costs
$121,040
$36,960
GROUNDFLOOR
$102,740
$18,300
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$94,500
Purchase Date
09/23/2020
Loan To ARV
65.0%
Loan To Total Project Cost
84.9%

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
4
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$158,000
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 September 23, 2020 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.
  • This is a collateral loan secured by two properties, 555 Rogers Drive, Macon, GA, US, 31204 and 2728 Pierce Drive North, Macon, GA, US, 31204. The ARV represents the combined value of all properties.
  • The Borrower's 2019 revenue was derived from rental properties because the Borrower's primary focus in 2019 was buy and hold. The Number of Completed Projects reflects the number of rental units owned. The Gross Margin reflects the earnings after the expenses of the rental business, such as mortgage interest, property taxes, and maintenance, have been deducted from gross revenue.
  • Please consult the Offering Circular