C

LOAN SUMMARY | 1310 & 1312 North Charlotte Avenue , Monroe, NC 28110

BORROWER

JD Partners Group LLC
Jasmina Worthy - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
11%
12 months
60.8%
$143,480
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Rehab
First Lien
$143,480
Repaid on 11/09/2020
Started on
Funded on
Repaid on
Matured on
01/16/2020
06/12/2020
11/09/2020
01/16/2021

FINANCIAL OVERVIEW

After Repair Value (ARV)
$236,000
Total Project Costs
$181,480
$54,520
GROUNDFLOOR
$143,480
$38,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$85,000
Purchase Date
09/12/2019
Loan To ARV
60.8%
Loan To Total Project Cost
79.1%

Grade Factors

The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
5
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)
$236,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower was advanced the money it needed to begin renovation of this property on January 16, 2020 by Groundfloor Finance Inc. (“Groundfloor,” “we,” “us,” or “our”) or a wholly-owned subsidiary of Groundfloor. The Borrower has now begun renovation 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.
  • 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 is using $47,000 of the loan proceeds to pay off an existing loan that was used to acquire the property. Groundfloor will assume the first lien position. The rest of the loan proceeds will be put towards the renovation of the property, much like an acquisition and renovation loan.
  • This is a collateral loan secured by five properties, 1310 & 1312 North Charlotte Avenue, Monroe, NC 28110. The ARV represents the combined value of all properties.
  • Please consult the Offering Circular