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LOAN SUMMARY | 5204 Backwoodsman Avenue, Las Vegas, NV 89130

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
6.5%
6 months
37.5%
$103,100
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Cash Out
First Lien
$103,100
Repaid on 11/10/2020
Started on
Funded on
Repaid on
Matures on
10/02/2020
10/30/2020
11/10/2020
04/07/2021

LOAN UPDATES

GROUNDFLOOR - 11/13/2020

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

FINANCIAL OVERVIEW

After Repair Value (ARV)
$278,100
Total Project Costs
$278,100
$0
GROUNDFLOOR
$103,100
$175,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$275,000
Purchase Date
01/28/2020
Loan To Value
37.5%
Loan To Total Project Cost
36.4%

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

VALUATION REPORTS

As Complete (ARV)
$278,100
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

5204 BACKWOODSMAN AVENUE, LAS VEGAS, NV 89130
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 October 7, 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 Borrower has not completed or sold any projects in the past year. As such, the Borrower's average revenue, costs, and margins cannot be calculated.
  • 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. 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.
  • Please consult the Offering Circular