C

LOAN SUMMARY | 490 Taft Ave, Bedford, OH 44146

BORROWER

DC Kelly Investments LLC
Corinne Kelly - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
11%
12 months
64.9%
$129,810
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase & Renovation
First Lien
$129,810
Repaid on 08/28/2020
Started on
Funded on
Repaid on
Matured on
03/07/2020
08/01/2020
08/28/2020
03/06/2021

FINANCIAL OVERVIEW

After Repair Value (ARV)
$200,000
Total Project Costs
$148,810
$51,190
GROUNDFLOOR
$129,810
$19,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$125,000
Purchase Date
03/07/2020
Loan To ARV
64.9%
Loan To Total Project Cost
87.2%

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
3
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$200,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

490 TAFT AVE, BEDFORD, OH 44146
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 March 7, 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 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 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