A

LOAN SUMMARY | 3599 Woodbriar Circle (4 Units) #2, Tucker, GA 30084

BORROWER


Rate
Projected Term
Loan To ARV
Loan Amount
Investors
6.4%
6 months
49.9%
$224,490
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Cash Out
First Lien
$224,490
Repaid on 03/12/2021
Started on
Funded on
Repaid on
Matured on
06/26/2020
09/18/2020
03/12/2021
03/15/2021

FINANCIAL OVERVIEW

After Repair Value (ARV)
$450,000
Total Project Costs
$449,490
$510
GROUNDFLOOR
$224,490
$225,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$450,000
Purchase Date
08/01/2019
Loan To Value
49.9%
Loan To Total Project Cost
50.5%

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
5
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

3599 WOODBRIAR CIRCLE (4 UNITS) #2, 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 January 8, 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.
  • This is a collateral loan secured by four properties, 3595 Woodbriar Circle, Unit E, 3599 Woodbriar Circle, Unit H, 3603 Woodbriar Circle, Unit A, and 3609 Woodbriar Circle, Unit A, Tucker, GA 32508. The ARV represents the combined value of all properties.
  • 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.
  • This loan refinances an earlier loan funded by Groundfloor on the same property, on January 8, 2020. The terms are identical, and the note for this LRO replaces the original note, in first lien position.
  • Please consult the Offering Circular