B

LOAN SUMMARY | 912 Surry Dr, Shelby, NC 28152

BORROWER

V.L.W. INVESTMENTS LLC
Robert Wilson - principal
Rate
Projected Term
Loan To ARV
Loan Amount
Investors
10.5%
9 months
70.0%
$244,965
1916
Purpose
Loan Position
Total Loan Amount
Loan Status
Refinance - Rehab
First Lien
$244,965
Repaid on 05/21/2025
Started on
Funded on
Repaid on
Matures on
11/19/2024
01/03/2025
05/21/2025
08/18/2025

LOAN UPDATES

GROUNDFLOOR - 6/5/2025
Borrower reports this is under contract for sale.
GROUNDFLOOR - 5/10/2025
Borrower reports they are working on a refinance to repay this loan.
GROUNDFLOOR - 4/16/2025
Borrower reports that they had a contract but fell through, back on the market for sale.
GROUNDFLOOR - 3/1/2025
Property is listed for sale. Borrower states the property is now under contract.

FINANCIAL OVERVIEW

After Repair Value (ARV)
$350,000
Total Project Costs
$349,900
$100
GROUNDFLOOR
$244,965
$104,935
0%
Skin-in-the-Game
First Lien Loan
Cushion
Purchase Price
$350,000
Purchase Date
05/10/2023
Loan To ARV
70.0%
Loan To Total Project Cost
70.0%

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

VALUATION REPORTS

As Complete (ARV)
$350,000
Certified Independent Appraisal
Broker's Price Opinion
Borrower Provided Appraisal
Borrower Provided Comps

PROPERTY DESCRIPTION

912 SURRY DR, SHELBY, NC 28152
The Borrower intends to use the loan proceeds to refinance an existing Groundfloor loan and continue renovation of 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 continue renovation of this property on November 19, 2024 by Groundfloor Finance Inc. (“Groundfloor,” “we,” “us,” or “our”) or a wholly-owned subsidiary of Groundfloor. The Borrower is continuing 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 Borrower is using $244,965 of the loan proceeds to pay off an existing Groundfloor loan that was used to acquire the property. Groundfloor will assume the first lien position. The rest of the loan proceeds will be put towards the renovation of the property, much like an acquisition and renovation loan.
  • 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 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.
  • The borrower has had late repayments, but has repaid all loans in full, with all interest and fees due.
  • Please consult the Offering Circular