B

LOAN SUMMARY | 13079 Sawpit Road, Jacksonville, FL 32226

BORROWER

Great Home Offers LLC
Glenn Connelly - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
7.5%
6 months
42.5%
$191,100
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase
First Lien
$191,100
Repaid on 07/01/2020
Started on
Funded on
Repaid on
Matured on
11/18/2019
02/12/2020
07/01/2020
05/17/2020

FINANCIAL OVERVIEW

After Repair Value (ARV)
$450,000
Total Project Costs
$271,100
$178,900
GROUNDFLOOR
$191,100
$80,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$265,000
Purchase Date
11/18/2019
Loan To ARV
42.5%
Loan To Total Project Cost
70.5%

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
3
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$450,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

13079 SAWPIT ROAD, JACKSONVILLE, FL 32226
The Borrower intends to use the loan proceeds to purchase 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 November 18, 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.
  • Please consult the Offering Circular