The collateral for this loan is two finished residential lots in Henderson, NV which is about 20 miles southeast of downtown Las Vegas, NV in the Lake Las Vegas master planned community. The lots are about three blocks away from each other and average about a quarter in size respectively. The floor plans for each are mirror images of one another which will total 3,820 S.F. of total living area. These modernly designed homes will feature four bedrooms and four and a half bathrooms with a three-car attached garage. Included in the budgets is an extensive pool and landscaping package to give the buyer what should be a “turnkey” type of purchase. Upgraded Thermador appliances in the gourmet kitchen, built in security and speakers, and a free-standing tub in the master to name a few of the many upgrades. It is anticipated the home will be sold prior to the home being completed, which has been the standard protocol for this builder.
Master Loan Amount: $2,500,000
Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *For investments equal to or greater than $100,000 investors will earn 10.5%.
Term: Nine months with two optional nine-month extensions at maturity. Final maturity date is 7/1/26.
