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.

Within this segment, we present insights into the metrics relating to the loan portfolio performance for the month of May. 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 last twelve months.

Loan Repayments

Groundfloor recorded 68 loan repayments in May. A total of 936 loans have been paid over the last 12 months.

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 May saw a total of $18,731,789. Interest volume for May returned $2,000,307.

Rate of Return

During the month of May, the rate of return was 8.96%. Groundfloor continues to uphold an impressive overall rate-of-return of 9.83%, signifying sustained strength and performance over an extended period.

Loss Ratio

In May, Groundfloor encountered 2 losses, resulting in a loss rate of 1.53%. The last twelve month average loss ratio stands at 1.07%. Groundfloor maintains an impressively low overall historical loss rate of 0.57%.

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 for the last twelve months. 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: 

12319 Cline Avenue

• The loan matured in October of 2022.
• File was referred to foreclosure in November 2023.
• Groundfloor Asset Management continued to work with the borrower throughout the default period. 
• Borrower was able to successfully repay the loan in May 2024, returning principal and interest to investors.

134 Carver Dr

• This loan matured in December 2022.
• The borrower struggled to sell the property and after continued delays, Groundfloor moved forward with a foreclosure action to encourage the borrower to repay the loan.
• Foreclosure began in December 2023.
• Borrower was able to successfully repay the loan in full after a reduced payoff was rejected by Asset Management.
  

May 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.

608 Ideal Way, Charlotte NC

(New Construction)

Total Loan Amount: $1,258,650

Term: 12 months

Repaid Date: May 1, 2024

Property Sold For: $1,825,000

10 Lamplight Circle, Natick MA

(Heavy Rehab)

Total Loan Amount: $1,067,190

Term: 12 months

Repaid Date: May 9, 2024

Property Sold For: $1,432,500

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:

• • Read our 2023 Year in Review post 
  • Check out our recent Monthly Market Trends Blog
  • Read our Asset Management Supplement

Have Questions or Comments?