GroundfloorReviews of groundfloor.com

Investing is great. Borrowing, not so great. Also, it is hard to get anyone to respond to emails.

Still waiting to see how it pans out then maybe bump to 5

Overall my experience with Groundfloor is great. Hopefully the new Groundfloor app has more access to options.

Excellent performance - very hard working and diligent team. Of late, there have been too many defaults and extensions though, which are being worked on efficiently as well. They need to make the portfolio data available in a useful format (biometric login, sorting of relevant columns, etc.)

The platform is easy to use, it is easy to transfer money in or out and it is easy to communicate with them.

I just hope the loans are getting repaid timely. On the platform I think it should be spelled out so investors can know.

Used the platform for a few years now. In general a great experience and GF is one of my favorite investment tools.

[UPDATE: After about a year, the majority of my loans have paid back. Often early. About 10% go into default, but the good thing is that Groundfloor is quick to issue a notice on intent to foreclose. Many of the default loans eventually pay back with the target return (or more). So, of 10% default, a much smaller number is actually a loss. There is a lot of updates about the foreclosure and legal actions to get back investors money!] Groundfloor.us is a p2p platform for debt-like exposure to American fix n'flips, single-family housing, with yields between 6 to 13%/year. The loans are primarily for fix and flips, but also new constructions, and buy-repair-rent-refinance (BRRR) loans. Soon, they will offer equity-like exposure. The properties are very diverse, located in both high-growth markets like Atlanta and Durham NC, as well as depressed areas like Baltimore. I have only been involved for a half-year, but here are some of my early observations which may help prospective sign-ups: - the borrowers' names and companies are available, which is great because investors can do basic DD - open to non-accredited investors - no fees for investors (fees on the borrowers) - volume: about 10-30 loans per month ranging in value between $100k to $800k - the best loans can sell-out in a few minutes - returns are between 6-13% annualised interest, mostly bullet-loans (repaid fully at end) - loans duration between 6-12 months, often repaid early - low minimums ($10) allow easy diversification - extensive geographic locations of loans: GA, FL, MD, NC, SC, MA, AZ, OH. However, they are expanding to new areas in 2019 (they conduct pilot studies before expanding into new areas) - unfortunately, the borrowers' financial statements don't seem extensively audited, so you are just trusting that their financials are correct - the average borrower seems to have only been in the fix-and-flip market for 3-4 years; many are first-time flippers; a few are established construction companies. - the after-repair valuations of the properties seem generally in line with external data, such as Zillow Zestimates - Grounfloor is still relatively new and largely financed by venture capital and crowdfunding equity; the founder has done lots of podcasts, so you can easily learn about the company and its mission. - I like that they are expanding their partners, such as with 'Flipping America' for equity-like offerings. - the number of defaults seems relatively high on the platform according to their owns statistics, but their research shows that the long-term expected return is ~10% per year, so long as you diversify across >50-100 loans. Please consider using my signup code, so we both get $10 for a new account www DOT groundfloor DOT us /new_referral/a83979