Our monthly Groundfloor Asset Management series remains committed to highlighting key performance metrics and other relevant data managed by our Asset Management team. In this month's blog, we continue to deliver the key metrics you expect from this series, as well as provide highlights from the month.
By The Numbers
Within this segment, we present insights into the metrics relating to the loan portfolio performance for the month of January. Our assessment will encompass loan payoffs, repayment and interest volume, rate of return, and loss ratios. Additionally, we have included comprehensive views of our loan performance states and a detailed overview of the data from the past twelve months.
Loan Repayments
Groundfloor recorded 81 loan repayments in January.
Notwithstanding the continued economic challenges, ongoing asset management efforts have contributed to stability in loan repayment activity. Despite factors such as inflation, rising interest rates, and borrower struggles, the performance rates for loan repayments have remained consistent.
Below is a monthly breakdown of the loans repaid and repayment volume over the last twelve months:
Repayment & Interest Volume
The repayment volume for the month of January saw a total of $22,195,522. Interest volume for January returned $1,999,724.
Rate of Return
During the month of January, the rate of return was 10.69%. Groundfloor continues to uphold an impressive overall rate-of-return of 9.84%, signifying sustained strength and performance over an extended period.
Loss Ratio
In January, Groundfloor encountered only 3 losses, resulting in a loss rate of 0.20%. Groundfloor maintains an impressively low overall historical loss rate of 0.52%.
Further Detail
Groundfloor identifies three distinct loan states within our portfolio: Current, Extended, and Default. The charts below offer a month-over-month depiction of repayments from all loan portfolio states year-to-date. Losses are reflected within the default loan state.
Lastly, we present a full view into our overall loan portfolio over the last twelve months, broken out into expanded detail for your assessment.
Highlights from the Month
Here are some of the notable loan achievements from last month:
8115 Massey Chapel Rd
- The loan matured in July 2022.
- Borrower failed to acquire sewer engineering approval from the local jurisdiction after multiple attempts.
- Foreclosure began in November 2022.
- Borrower was able to successfully repay the loan in January 2024 returning principal and some interest to investors.
9643 SW 136th Street
- This loan matured in December 2022.
- Borrower continued to attempt refinancing and sale unsuccessfully.
- Eventually the property went under contract and was sold in January 2024.
January Project Spotlights
We're highlighting some of the properties that were repaid last month and showcasing their before-and-after outcomes in the section below.
1020 Kirkwood Ave SE, Units A and B, Atlanta, GA
(New Construction)
Unit B:
Total Loan Amount: $852,570
Term: 18 months
Repaid Date: January 5, 2024
Unit A Sold For: $712,125
Unit B Sold For: $720,000
17636 Taylor Drive, Fort Myers, FL
(Purchase & Renovation)
Property Purchased For: $270,000
Total Loan Amount: $349,650
Term: 12 months
Repaid Date: January 30, 2024
Property Listed For: $412,000
1619 Wellswood Dr. SE, Atlanta, GA
(Purchase & Renovation)
Property Purchased For: $210,000
Total Loan Amount: $443,150
Term: 18 months
Repaid Date: January 12, 2024
Property Sold For: $727,500
Review your Groundfloor Investor Account
To review your current portfolio's performance, and discover and invest in new LRO's, please visit your Investor Account here and your Auto Investor Account through the Groundfloor app.
If you don’t have an Auto Investor Account, transfer funds today via the app for easier automated investing.
Further Reading:
-
- Take a look at our Diversification Analysis report
- Read our Asset Management Supplement
- Check out our recent Monthly Market Trends Blog
Your Comments :