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Izzy

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So far Izzy has created 225 blog entries.

Dragonhawk Holdings, LLC #5330-5337 | NEVADA – FUNDED

First Trust Deed collateralized by eight residential lots in MacDonald Highlands Master Planned Community. These lots are part of the Dragon Rock community within MacDonald Highlands which was developed by the borrower. All of the lots have a purchase option with Blue Heron, one of the top custom home builders in Las Vegas, NV. Once Blue Heron finds a buyer for the lot, it will be purchased directly from our borrower and then Blue Heron will build the customer a home on the purchased lot. These lots have been selling for an average price of nearly $700,000 over the past six months. Master Loan Amount: $2,900,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: Nine months with an optional nine-month extension at maturity. Final maturity date is 7/11/23.

By |January 18th, 2022|Funded Investments|0 Comments
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Hurry It Up We Are Burning Daylight, LLC #5316 | NEVADA – FUNDED

The collateral for this loan is 1.88 acres of land located in Sandy Valley, NV which is about 34 miles southeast of the M Resort (the south point of the Las Vegas Strip). Since acquiring the property in June of 2020, the borrower has worked with the city to allow for the construction of a 10,500 square foot building. The property is 100% preleased to Family Dollar which is a wholly owned subsidiary of Dollar Tree and has been in operations for over 60 years and currently has over 15,000 stores and 250,000 employees. This is one of 600 planned new stores this year for Dollar Tree. Construction is already in full swing and is expected to be completed in four months. Once the property is constructed and the tenant has occupied the property, the borrower will pay this loan off via a refinance. Loan Amount: $1,796,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: Nine months with an optional nine-month extensions at maturity.

By |January 5th, 2022|Funded Investments|0 Comments
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Dragonhawk Holdings, LLC #5319-5325 | NEVADA – FUNDED

First Trust Deed collateralized by seven residential lots in MacDonald Highlands Master Planned Community. These lots are part of the Dragon Rock community within MacDonald Highlands which was developed by the borrower. All of the lots have a purchase option with Blue Heron, one of the top custom home builders in Las Vegas, NV. Once Blue Heron finds a buyer for the lot, it will be purchased directly from our borrower and then Blue Heron will build the customer a home on the purchased lot. These lots have been selling for an average price of nearly $700,000 over the past six months. Master Loan Amount: $2,848,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: Nine months with an optional nine-month extension at maturity. Final maturity date is 6/27/23.

By |January 4th, 2022|Funded Investments|0 Comments
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Harmony Homes Nevada, LLC #5309-#5315 | NEVADA – FUNDED

First Trust Deed collateralized by roughly 7.18 acres of residentially zoned land near the corner of Azure and N 5th St in Las Vegas, NV (roughly eight miles north of downtown Las Vegas). The land is currently zoned as a Planned Unit Development since the previous owners have gone through many different iterations with the local municipalities to get zoning approvals. The borrower is currently working with the city to approve a 108-unit community. All 108 units are expected to be in the form of 36 triplex buildings. This tentative map approval for the 108-unit community will happen shortly after the funding of this loan. In about nine months the borrower will begin the development work on the land which is expected to cost nearly $5,000,000. The first home will not be made available for approximately one year. With plans ranging from 1100 -1500 square feet and price points starting in the high $200,000’s, these townhomes will help fill the demand for the entry level buyer. Master Loan Amount: $3,250,800 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: Nine months with an optional nine-month extension at maturity.

By |December 20th, 2021|Funded Investments|0 Comments
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Harmony Homes Nevada, LLC #5304-5308 | NEVADA – FUNDED

First Trust Deed collateralized by roughly 9.48 acres of residentially zoned land near the corner of Craig and Lamont St Rd in Las Vegas, NV (roughly seven miles northeast of downtown Las Vegas). The land is currently zoned Multi-Family Residential with a medium density which will allow for 18 units per acre. The borrower is currently working with the city to approve a 120-lot community. All 120 units are expected to be in the form of 40 triplex buildings. This tentative map approval for the 120-lot community will happen shortly after the funding of this loan. In about nine months, the borrower will begin the development work on the land which is expected to cost nearly $5,000,000. The first home will not be made available for approximately one year. With plans ranging from 1100 -1500 square feet and price points starting in the high $200,000’s, these townhomes will help fill the demand for the entry level buyer. Master Loan Amount: $2,016,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: Nine months with an optional nine-month extension at maturity. Final maturity date is 6/27/23.

By |December 17th, 2021|Funded Investments|0 Comments
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Blue Heron Strata, LLC #5283 | NEVADA – FUNDED

First Trust Deed collateralized by 4.59 acres of residential land near the corner of Moon Hill Dr and Highland Shores Dr in Henderson, NV (approximately 20 miles southeast of downtown Las Vegas). Although the property is currently 4.59 acres, the borrower is working with the seller of the land on a boundary line adjustment that would add about 10% more land to the property that is being acquired. This won’t allow for any additional lots but instead it will allow many of the lots to be larger in size. Additionally, the lots are currently partly complete, and the seller is obligated to finish the lots before all the money is released to them from escrow. This is anticipated to occur in March of 2022. Homes in this development will average nearly 5,000 square feet with an average sales price of nearly $3,000,000. Within the Lake Las Vegas master planned community in which the development is located, there is a price premium associated with homes that have view of the lake. Most of the lots in this development will have unobstructed view of the lake. Master Loan Amount: $5,700,000 Yield: 11% interest is paid monthly in arrears with payments due on

By |December 15th, 2021|Funded Investments|0 Comments
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FIG Cooper Woods, LLC #5272 | UTAH – FUNDED

The collateral for this loan consists of seven acres of residentially zoned land in Roy, UT (approximately four miles west of Ogden, UT and 35 miles north of Salt Lake City, UT). The borrower typically has the projects they acquire fully entitled with site plan approval; this project is a bit different since they will be selling it to one buyer upon completion. The borrower has worked with the city to get conceptual approval for 82 townhomes and expects the buyer to get final map approval after the partially entitled project sells. The buyer for the soon to be fully entitled land has purchased many assets from this borrower over the past few years. It is anticipated the loan will be sold to the buyer in about three months. In the unlikely event the borrower is unable to sell the project in short order, they will develop the land and sell the townhomes to their long waitlist of investors. Loan Amount: $2,200,000 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

By |December 3rd, 2021|Funded Investments|0 Comments
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Kyle Canyon Next and Last Frontier, LLC #5271 | NEVADA – FUNDED

The collateral for this loan is a 2.48-acre parcel of land located near the intersection of Kyle Canyon Rd and US 95 in the northwest part of Las Vegas. This area has seen explosive growth over the past few years due the masterplan community known as Skye Canyon. Skye Canyon is about 1,000 acres in size and will be home to 6,500 homes. The site is currently zoned as a limited commercial district. Within the zoning designation, the borrower will begin getting a final plat map approved for the development and ultimate construction of a three-parcel plat including a gas station, a drive through, and a two-tenant building pad. All the proposed buildings are preleased with signed LOI’s to Green Valley Grocery, A&W, Dotty’s and Subway. With over 12,000 square feet of commercial space, this property is ideally located on the hard corner of what will become a highly trafficked intersection. 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 an optional nine-month extension at maturity. Final maturity

By |November 30th, 2021|Funded Investments|0 Comments
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Green Level West I Apartments, LLC #5270 | NORTH CAROLINA – FUNDED

The collateral for this loan is an approximately 25-acre site that will be entitled to allow for the construction of a 300+ unit apartment building. This acquisition sits contiguous to two separate properties the borrower has under contract (or already owns) which will total over 40 acres. Since this closing must happen before year end, the borrower is using Ignite to help finance the acquisition while the entitlements are completed on the entire 40 acres of land. One of the other two properties the borrower has under contract will not close until the entitlement process is completed which is currently estimated to be in early 2022. On the other side of the property, construction has begun on over 1 million square feet of medical space that is owned by Duke Health. The city has already expressed a desire on their master plan to make this corridor the new “heart” of the city which bodes well for the long-term viability of the project and the short term needs to get the property entitled. Loan Amount: $4,530,000 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

By |November 30th, 2021|Funded Investments|0 Comments
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Rhino Holdings Racine, LLC #5269 | WISCONSIN – FUNDED

The collateral for this loan is part of a Home Depot anchored, 264,000 square foot shopping center that sits on about 30 acres of land. The property is situated on the Southeast Corner of a heavily trafficked intersection in Racine, WI which is about 30 miles south of Milwaukee, WI. This loan will only encumber 150,000 square feet of the shopping center that the borrower purchased for $6,700,000 only a few weeks ago. It is the intent of the borrower to increase the occupancy of the project since most of it is vacant. In this submarket where vacancy is less than 10% for this type of product, there is a lot of room to improve just to get to market average. Loan Amount: $4,200,000 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 an optional nine-month extension at maturity. Final maturity date is 5/21/23.

By |November 29th, 2021|Funded Investments|0 Comments
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Ignite Funding, LLC | 6700 Via Austi Parkway, Suite 300, Las Vegas, NV 89119 | P 702.739.9053 | T 702.919.4281 | F 702.922.6700 | NVMBL #311 | AZ CMB-0932150 | | Money invested through a mortgage broker is not guaranteed to earn any interest and is not insured. Prior to investing, investors must be provided applicable disclosure documents.
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