1435 LEACH DR

1435 LEACH DR

Purchase & Renovation

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1435 Leach: An In-depth Look

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Security Type
Debt/Note
Categories
Real Estate
Loan to ARV
70%
No. Investors
2673
Projected Return
12%
Term
15 months
Total Project Costs
$409,780

Key Deal Facts

The Borrower was advanced the money it needed to purchase this property on April 11, 2023 by Groundfloor Finance Inc. (“Groundfloor,” “we,” “us,” or “our”) or a wholly-owned subsidiary of Groundfloor. The Borrower is now in possession 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., This LRO represents the second draw for the loan and is secured by an individual note., There will be two LROs on this project, each representing subsequent draws. The second series of LROs will be for $174,890. The Financial Overview box represents the aggregate amount of all LROs to be secured by this property, giving a complete financial picture of the project., The event of default on one Groundfloor note secured by this property will trigger default on all Groundfloor notes secured by this property. All LRO holders investing in LROs corresponding to notes secured by this property share the same priority in any recovery and recovered proceeds will be distributed on a pro-rata basis., Please consult the Offering Circular for further discussion of general risk factors.

Management Team / Advisory Board Bios

Aaron Butler - principal

Available to Invest : $1,202
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Security Description

A note is a financial security that generally has a longer term than a bill but a shorter term than a bond.

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