B

LOAN SUMMARY | 47 Walker Road, Dallas, GA 30132

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
8.5%
9 months
68.8%
$142,530
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$142,530
Repaid on 03/18/2021
Started on
Funded on
Repaid on
Matures on
09/14/2020
10/18/2020
03/18/2021
06/17/2021

LOAN UPDATES

GROUNDFLOOR - 3/22/2021

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

GROUNDFLOOR - 3/15/2021

The borrower has advised the property is currently under contract, with an expected closing date of March 16, 2021. Please keep in mind closing dates are subject to change.

GROUNDFLOOR - 2/2/2021

The borrower has advised the property is actively listed on the market.

GROUNDFLOOR - 1/5/2021

The borrower has advised that renovations are complete, and the property is in the process of being listed on the market.

GROUNDFLOOR - 12/4/2020

The borrower has advised the following renovations are complete or in progress:

  • Bathroom renovations are complete.
  • Kitchen cabinet installation is complete.
  • Appliance and lighting installation is complete.
  • Countertop installation is scheduled.
GROUNDFLOOR - 11/9/2020

The borrower has advised the project is progressing as planned. Kitchen appliance delivery is scheduled.

GROUNDFLOOR - 10/23/2020

The borrower has advised the following renovations are complete or in progress:

  • Demolition is complete.
  • Framing is complete.
  • Garage door installation is complete.
  • Ceiling fan installation is complete.
  • Drywall installation is in progress.
  • Painting is in progress.
  • Bathroom renovations are in progress.
  • Plumbing is in progress.
  • Exterior painting, window, and HVAC installation is scheduled.

FINANCIAL OVERVIEW

After Repair Value (ARV)
$204,000
Total Project Costs
$181,030
$22,970
GROUNDFLOOR
$142,530
$38,500
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$140,000
Purchase Date
09/18/2020
Loan To ARV
68.8%
Loan To Total Project Cost
78.0%

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
5
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$204,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

47 WALKER ROAD, DALLAS, GA 30132
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 September 18, 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.
  • Please consult the Offering Circular