B

LOAN SUMMARY | 518 Harper Avenue, Rome, GA 30161

BORROWER

Bam Dave Solutions, LLC
David Inyere - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
9%
12 months
60.3%
$116,340
0
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Rehab
First Lien
$116,340
Repaid on 04/05/2021
Started on
Funded on
Repaid on
Matured on
07/08/2019
10/16/2019
04/05/2021
07/08/2020

FINANCIAL OVERVIEW

After Repair Value (ARV)
$193,000
Total Project Costs
$156,340
$36,660
GROUNDFLOOR
$116,340
$40,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$60,000
Purchase Date
01/03/2019
Loan To ARV
60.3%
Loan To Total Project Cost
74.4%

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

VALUATION REPORTS

As Complete (ARV)
$193,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

518 HARPER AVENUE, ROME, GA 30161
The Borrower intends to use the loan proceeds to 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 begin renovation of this property on July 8, 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 property was purchased for $60,000. The Borrower intends to use $20,000 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 $40,000 that is tied up in the project after completion of our loan.
  • Please consult the Offering Circular