What is Groundfloor?
Groundfloor is a platform for investing in short-term, secured, real estate debt. They’re also a hard money lender for real estate projects. Groundfloor pre-funds venture loans to developers looking for capital to support “fix and flip” and new construction projects.
Where Did Groundfloor Operate Before?
Groundfloor operates in a wide variety of real estate markets across the country. They specifically list Charlotte, Kansas City, Tampa, Raleigh, Minneapolis, Orland, Atlanta, and Cincinnati as the major markets they operate in.
While they may have services in those markets, their current lending is not equally balanced across all those markets. Here’s a quick breakdown of loans available to invest in on Groundfloor today, by state:
Loans are mostly concentrated in Georgia, followed by Florida, Indiana, and North Carolina. This portfolio construction isn’t too surprising. According to an earlier blog post by the company, data from The National Association of Realtors showed Atlanta, Raleigh, and Jacksonville as among the top 10 markets for 2023.
What’s interesting about Tulsa?
On Groundfloor’s webpage about their services in Tulsa, they outline a few reasons why it’s an interesting an enticing real estate market:
- Higher rate of appreciation than other US cities
- Greater housing affordability compared to other metro areas
- Properties sell very quickly in Tulsa
There are similar themes echoed by other companies as well. According to Redfin:
- The median sale price is ~$210K
- The average home sell for 97% of its listing price, and is pending in 19 days
- Hot homes can receive and accept an offer in as few as 5 days
- Redfin gives Tulsa’s market at 75 for their Compete Score, making it a very competitive market
- Top places people are moving from include many large urban cores – Los Angeles, Denver, San Francisco, Dallas, and Seattle
Another real estate investing platform, Roofstock, also has good things to say about Tulsa, Oklahoma:
- Increasing presence and investment from technology, aerospace, and financial companies
- The wider Tulsa metropolitan area has seen 8.3% population growth since 2010, surpassing 1 million people in 2021
- 29% GDP growth in the past 10 years
- A low unemployment rate of 2.9%
- Ranked as one of the top 100 places to live
What Do Groundfloor Operations In Tulsa Mean?
For anyone interested in taking on a real estate venture in Tulsa, there’s a new lender in town. Groundfloor has a local representative for the Tulsa region, Josh Plock. You can find his phone number and email address on this page.
The presence of new capital could open up new opportunities for home construction in the region. It may also help in the renovation of older, dilapidating homes through fix and flip projects.
Where To Learn More About Groundfloor
We have a comprehensive overview of Groundfloor as a real estate investing platform. In it you’ll find a ton of useful information about Groundfloor’s real fractional real estate loan (LRO) offerings, Groundfloor Notes, and Groundfloor Labs.
If you think you’d like to get started investing on Groundfloor, you can use our referral link. If you sign up using this link and invest $100 on the platform, you’ll get a $10 bonus credit to your account.