Izzy, Author at Ignite Funding

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Brass Monkey, LLC #5041 | NEVADA – FUNDED

Brass Monkey, LLC #5041 | NEVADA – FUNDED

The collateral for this loan is 2.63 acres of land located on the Southeast corner of Charleston Blvd and Maryland Pkwy near the heart of downtown Las Vegas, NV. On the land is a 28,620 square foot building that has been part of an ongoing litigation for many years. Originally built in 1944, the property (commonly known as the Huntridge Theater) has not been in operations since 2004 due to ongoing litigation between the current owner and the city. Since the property was listed on the National Register of Historic Places in 1993, the city’s involvement became too much for the current owner to handle. The city put a lien on the property given the numerous code violations which has scared away many potential suiters for the project. Our borrower, Dapper Companies, has already worked with the city to have the liens removed as part of the closing. This alone will unlock tremendous value since any new buyer would not have this burden. Over the next year, the borrower will work to get building permits and leases signed. Once this is completed, this loan will be paid off with a construction loan. Loan Amount: $2,600,000 Yield: 10.5% (Principal Balance ≥

By Izzy|March 12th, 2021|Funded Investments|0 Comments

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Harmony Homes Nevada, LLC #5037-5040 | NEVADA – FUNDED

Harmony Homes Nevada, LLC #5037-5040 | NEVADA – FUNDED

First Trust Deed collateralized by nearly 6.2 acres of residentially zoned land near the corner of Cadence Crest Ave and Sunset Rd in Henderson, NV (roughly 15 miles southeast of downtown Las Vegas). The land is currently zoned PC (Planned Community) which will only allow a few homes to be built on the site. The borrower is currently working with the city to approve a 74-lot community. This tentative map approval for the 74 lot community will happen before the funding of this loan. This is the second community in this area the borrower has done with the exact same floor plans. In about nine months, the borrower will begin the development work on the land which is expected to cost nearly $4,500,000. The first home will not be made available for approximately one year. With plans ranging from 1121 -1711 square feet and price points of under $250,000, these townhomes will help fill the demand for the entry level buyer. Master Loan Amount: $1,800,000 Tranche Loan Amount: Between $267,600 and $802,700 Yield: 10.00% (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: 9

By Izzy|March 12th, 2021|Funded Investments|0 Comments

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Harmony Homes Nevada, LLC #4979-5035 | NEVADA – FUNDED

Harmony Homes Nevada, LLC #4979-5035 | NEVADA – FUNDED

First Trust Deed collateralized by 57 finished lots near the corner of Boulder Hwy and Lake Mead Pkwy in Henderson, NV (approximately 16 miles southeast of downtown Las Vegas, NV). The borrower purchased the property from the masterplan developer after the site plan had been approved in December of 2019. The site plan allows for 142 townhome lots in four, six, and eight-plex configurations to be built of which this loan encumbers a total of 57. The development work began in the spring of 2020 and was completed for a cost of $5,800,000. With an average sales price of $250,000 per unit, the borrower will be one of the lowest priced builders in the area. Home sales should start in the community at the end of 2021. Loan Amount: $2,679,000 Yield: 10% Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: 9 months with one optional 9-month extension period at maturity.

By Izzy|March 9th, 2021|Funded Investments|0 Comments

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Elation Homes, Inc. #4977 | NEVADA – FUNDED

Elation Homes, Inc. #4977 | NEVADA – FUNDED

First Trust Deed collateralized by 14 approximately half acre, fully developed residential lots located in the Valley Heights community in Moapa Valley, Nevada (approximately 58 miles northeast of Las Vegas, NV and 73 miles southwest of St. George, UT). The subdivision includes over 70 homes that are either finished or under contract to be built in the next 30 days. The borrower sold 43 lots within this same community to DR Horton in May of 2019 for $35,000 per lot and this loan is for under $20,000 per lot. Two of the lots will have homes built on them. These two homes will be about 1,600 square feet each and be the same product type this borrower has previously built in this community. Loan Amount: $750,000 Yield: 10.50% 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 one optional nine-month extension period at maturity.

By Izzy|March 1st, 2021|Funded Investments|0 Comments

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Harmony Horizon Ridge, LLC #4949 – 4976 | NEVADA – FUNDED

Harmony Horizon Ridge, LLC #4949 – 4976 | NEVADA – FUNDED

First Trust Deed collateralized by 28 mostly finished residential lots near the corner of Horizon Ridge Pkwy and Horizon Dr in Henderson, NV (approximately 17 miles southeast of downtown Las Vegas). Since acquiring the property in November of 2018, the borrower has successfully obtained approval for the development of a 154-lot subdivision and subsequently completed most of the development work on all three phases of the project. The lots are roughly 0.05 acres in size which was done to ultimately build townhomes on. Townhomes in the community will range between 1,121-1,711 square feet with three to five bedrooms and up to three baths with an average sales price of $290,000. Master Loan Amount: $1,736,000 Tranche Loan Amount: $62,000 Loan Type: This Master Loan will be sold in tranches, giving investors the opportunity to invest in one or more lots in the community. A breakdown of the lots is shown on the next page. Yield: 10.00% 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 one optional nine-month extension period at maturity.

By Izzy|March 1st, 2021|Funded Investments|0 Comments

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Sparks Golden Holdings, LLC #4946 | NEVADA – FUNDED

Sparks Golden Holdings, LLC #4946 | NEVADA – FUNDED

First Trust Deed collateralized by a nearly 15-acre parcel of land approximately 13 miles north east of downtown Reno, NV. The borrower is acquiring these nearly 15 acres from the seller who has tentative approval for a master plan consisting of over 40 contiguous acres of land. Within the masterplan, only the 15 acres the borrower is acquiring will be constructed into apartment units. The remaining acreage will be used for commercial space and condo units. Over the next six months the borrower will continue to work with the city to finalize the predevelopment of the project with the anticipation of June being able to finalize the predevelopment work and obtain building permits for the project. As soon as a building permit is ready to be issued, the borrower anticipates obtaining construction financing to pay off this acquisition loan. Loan Amount: $8,000,000 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: 9 months with an optional six-month extension period at maturity.

By Izzy|January 20th, 2021|Funded Investments|0 Comments

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Ten15 Craig Tenaya, LLC #4945 | NEVADA – FUNDED

Ten15 Craig Tenaya, LLC #4945 | NEVADA – FUNDED

The collateral for this loan is 0.95 acres of land located near the corner of Craig Road and US-95 which is about 9 miles northwest of downtown Las Vegas, NV. Since acquiring the property in March of 2016, the borrower has worked with the city to allow for the construction of a 4,039 square foot drive thru outparcel. The property is 100% preleased to Bonanno’s New York Pizzeria and Plant Power Fast Food. This will be Bonanno’s fifth location in Las Vegas and Plant Power’s eighth location but the first in Las Vegas. Construction will begin immediately following the funding of this loan and is expected to be completed in eight months. Loan Amount: $1,325,000 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 two optional nine-month extensions at maturity.

By Izzy|January 15th, 2021|Funded Investments|0 Comments

Harmony Homes Nevada, LLC #4890 | NEVADA – FUNDED

First Trust Deed collateralized by 54 mostly completed residential lots near the Southeast corner of Lawrence St and Hammer Lane in North Las Vegas, NV (roughly six miles north of Las Vegas, NV). The community is well located near shops and amenities for potential homeowners. This community is going to piggyback off Harmony’s other community adjacent to this one, known as the Northridge Community. Northridge is nearly 100% completed and consists of 119 homes that average 1,700 square feet and are selling for an average of $300,000. This new community will consist of the same size homes and will sell for about the same amount. Currently the community has all 30 lots reserved that are currently available for reservations. The remaining 24 lots will be made available in the next two months and some of those have a waiting list. Loan Amount: $3,402,000 Yield: 10% Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: 9 months with one optional 9-month extension period at maturity.

By Izzy|January 15th, 2021|Funded Investments|0 Comments

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Harmony Homes Nevada, LLC #4831 | NEVADA – FUNDED

Harmony Homes Nevada, LLC #4831 | NEVADA – FUNDED

First Trust Deed collateralized by 10.2 acres of residentially zoned land near the corner of Boulder Hwy and Lake Mead Pkwy in Henderson, NV (approximately 16 miles southeast of downtown Las Vegas, NV). The borrower purchased the property from the masterplan developer after the site plan had been approved in December of 2019. The site plan allows for 142 townhome lots in four, six, and eight-plex configurations to be built of which this loan encumbers a total of 58. The development work began in the spring of this year and it is estimated to be completed next month for a cost of $5,800,000. With an average sales price of $247,000 per unit, the borrower will be one of the lowest priced builders in the area. Home construction is anticipated to begin in September of 2021. Loan Amount: $2,726,000 Yield: 10% Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: 9 months with one optional 9-month extension period at maturity.

By Izzy|December 29th, 2020|Funded Investments|0 Comments

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Harmony Homes Nevada, LLC #4826 – FUNDED

Harmony Homes Nevada, LLC #4826 – FUNDED

First Trust Deed collateralized by 10.2 acres of residentially zoned land near the corner of Boulder Hwy and Lake Mead Pkwy in Henderson, NV (approximately 16 miles southeast of downtown Las Vegas, NV). The borrower purchased the property from the masterplan developer after the site plan had been approved in December of 2019. The site plan allows for 142 townhome lots in four, six, and eight-plex configurations to be built of which this loan encumbers a total of 84. The development work began in the spring of this year and it is estimated to be completed in six months for a cost of $5,800,000. With an average sales price of $247,000 per unit, the borrower will be one of the lowest priced builders in the area. Home construction is anticipated to begin in September of 2021. Loan Amount: $1,604,400 Yield: 10% Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: 9 months with one optional 9-month extension period at maturity.

By Izzy|December 28th, 2020|Funded Investments|0 Comments

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