D

LOAN SUMMARY | Lot 6 NE 17th Ave, Trenton, FL 32693

BORROWER

Trenton Homes, LLC
David Forsythe - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
12.5%
21 months
64.7%
$109,910
1224
Purpose
Loan Position
Total Loan Amount
Loan Status
New Construction
First Lien
$109,910
Funded
Started on
Funded on
Repaid on
Matured on
07/12/2022
01/17/2023
Pending
04/11/2024

FINANCIAL OVERVIEW

After Repair Value (ARV)
$170,000
Total Project Costs
$137,910
$32,090
GROUNDFLOOR
$109,910
$28,000
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$7,000
Purchase Date
07/12/2022
Loan To ARV
64.7%
Loan To Total Project Cost
79.7%

Grade Factors

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

VALUATION REPORTS

As Complete (ARV)
$170,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

LOT 6 NE 17TH AVE, TRENTON, FL 32693
The Borrower intends to use the loan proceeds to complete a new construction. 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 needs to begin construction of this property on July 12, 2022 by Groundfloor Finance Inc. (“Groundfloor,” “we,” “us,” or “our”) or a wholly-owned subsidiary of Groundfloor. The Borrower has begun construction 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 construction of the property may be extensive, and therefore subject to delays and other unexpected issues.
  • The construction will require permitting, and permits may not be obtained on time or may be denied.
  • There is no existing structure on this property, or if there is, it will be demolished, and a new structure built in its place.
  • Please consult the Offering Circular