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LOAN SUMMARY | 656 Channing Drive Northwest, Atlanta, GA 30318

BORROWER

AxBo Holdings, LLC
Will Teague - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
13.5%
15 months
70.2%
$420,949
6368
Purpose
Loan Position
Total Loan Amount
Loan Status
Purchase
First Lien
$420,949
Funded
Started on
Funded on
Repaid on
Matures on
07/19/2024
09/24/2024
Pending
10/18/2025

LOAN UPDATES

GROUNDFLOOR - 8/26/2025
A payoff statement has been requested for the sale of the property.
GROUNDFLOOR - 8/5/2025
A payoff statement has been requested for the refinance of the property.
GROUNDFLOOR - 6/17/2025
Per the borrower, still no offers received yet.
GROUNDFLOOR - 5/3/2025
Per borrower, the property continues to be listed for sale and the price has been reduced.
GROUNDFLOOR - 12/5/2024
The property is listed on the market for sale.

FINANCIAL OVERVIEW

After Repair Value (ARV)
$600,000
Total Project Costs
$599,900
$100
GROUNDFLOOR
$420,949
$178,951
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$596,000
Purchase Date
07/19/2024
Loan To ARV
70.2%
Loan To Total Project Cost
70.2%

Grade Factors

The following factors determine in part how the loan was graded:
(in descending order of importance)
Loan To ARV Score
3
10
Quality of Valuation Report
4
4
Skin-in-the-Game
5
10
Location
4
8
Borrower Experience
2
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$600,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

656 CHANNING DRIVE NORTHWEST, ATLANTA, GA 30318
The Borrower intends to use the loan proceeds to purchase the property. After, the Borrower intends to sell the property to repay the Groundfloor loan, or refinance it.

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower was advanced the money it needed to purchase this property on July 19, 2024 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 intends to use the loan proceeds to purchase the property. 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 property's After Repair Value, which is an indication of the current market value in as is condition. The Borrower will repay the Groundfloor loan by selling the property or refinancing it.
  • The Borrower's 2023 revenue was derived from rental properties because the Borrower's primary focus in 2023 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