A

LOAN SUMMARY | 3595 Woodbriar Circle (5 Units), Tucker, GA 30084

BORROWER

3605 rentals llc
Shmuel Wolf - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
6.4%
6 months
60.9%
$280,000
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Cash Out
First Lien
$280,000
Repaid on 05/26/2020
Started on
Funded on
Repaid on
Matured on
11/26/2019
02/23/2020
05/26/2020
06/01/2020

FINANCIAL OVERVIEW

After Repair Value (ARV)
$460,000
Total Project Costs
$460,000
$0
GROUNDFLOOR
$280,000
$180,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$460,000
Purchase Date
04/06/2019
Loan To Value
60.9%
Loan To Total Project Cost
60.9%

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
7
10
Location
4
8
Borrower Experience
5
5
Borrower Commitment
1
1

VALUATION REPORTS

As Complete (ARV)
$460,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

3595 WOODBRIAR CIRCLE (5 UNITS), 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 November 26, 2019 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 properties are being used as collateral for a loan. No substantial work is being done on the properties, 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 is a collateral loan secured by five properties, 3595 Woodbriar Circle, Unit A, 3595 Woodbriar Circle, Unit C, 3601 Woodbriar Circle, Unit A, 3603 Woodbriar Circle, Unit L, and 3605 Woodbriar Circle, Unit B, Tucker, GA, 30084. The ARV represents the combined value of all properties.
  • The Borrower has repaid four loans late, but repaid the loans in full, with all interest and fees due.
  • The Borrower has not completed any projects in the past year. As such, the Borrower's average revenue, costs, and margins cannot be calculated.
  • Please consult the Offering Circular