B

LOAN SUMMARY | 7148 Hogan Road, Jacksonville, FL 32216

BORROWER

ENSZ Investments LLC
Emmanuel Damier - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
9%
12 months
55.5%
$81,810
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Rehab
First Lien
$81,810
Repaid on 05/03/2021
Started on
Funded on
Repaid on
Matured on
03/29/2019
04/19/2019
05/03/2021
03/28/2020

FINANCIAL OVERVIEW

After Repair Value (ARV)
$147,500
Total Project Costs
$92,810
$54,690
GROUNDFLOOR
$81,810
$11,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$50,000
Purchase Date
05/16/2017
Loan To ARV
55.5%
Loan To Total Project Cost
88.1%

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
2
10
Location
4
8
Borrower Experience
3
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$147,500
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

7148 HOGAN ROAD, JACKSONVILLE, FL 32216
The Borrower intends to use the loan proceeds to complete a renovation to the property. Upon completion, the Borrower plans to refinance the property to repay the Groundfloor loan.

PROPERTY PHOTOS

MISCELLANEOUS

PROJECT SPECIFIC RISK FACTORS
  • The Borrower was advanced the money it needed to begin renovation of this property on March 29, 2019 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's 2018 revenue was derived from rental properties because the Borrower's primary focus in 2018 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.
  • The property was purchased for $50,000.00. The Borrower intends to use 42,685 of the proceeds from our loan to offset that amount of the purchase price of the property. Therefore, the Borrower is only receiving a "Skin-in-the-Game" score for the remaining $7,315 that is tied up in the project after completion of our loan.
  • Please consult the Offering Circular