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Court Hampton Holdings, LLC #4391 – NEVADA – FUNDED

First Trust Deed collateralized by 10 developed residential lots located in the Daybreak community which is located nine miles east of Las Vegas, NV. The property currently has a final map in place to allow for the development of 41 lots roughly .12 acre in size of which this loan will encumber 10 of them. As it currently stands, the lots are graded and all of the underground work has been completed but the finishing work (curbs, gutters, and streets) has yet to be finalized. Development is anticipated to be completed by April of 2017. Harmony Homes has sold out of the first phase of the community which they have been selling since 2010.

Loan Amount: $513,000

Yield: 10.25% (Principal Balance ≥ $100,000); 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: 6 months with one optional 6 month extension period at maturity.

Lokal BR7 LLC #4390 – Colorado – FUNDED

The collateral for this loan consists of 24 mapped and partially developed single-family residential lots located in Commerce City, CO (approximately 20 miles northeast of Denver, CO and 12 miles west of Denver International Airport). These 24 lots are the second take down of a larger 151 lot community know as Buffalo Run Filing 7. Homes will be priced around $430,000 and will solely consist of single story ranch style homes. Filing 7 is the last takedown within a larger community know as Buffalo Run that the borrower has already completed the development, construction, and ultimate sale of over 300 homes.

Loan Amount: $1,560,000

Yield: 10.25% (Principal Balance ≥ $100,000); 10% (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: 6 months with an optional 6 month extension at maturity.

Tailor Built Homes , LLC #4389 – UTAH – FUNDED

First Trust Deed collateralized by six fully developed roughly .33 acre residential lots located in Riverton, UT (approximately 17 miles south of downtown Salt Lake City, Utah). Loan proceeds will be used for the acquisition of the lots. Situated directly east of Riverton Elementary School, the property is currently owned by the school district as a way to teach students about land development and home building. Since the program was dissolved a few years back, only three of the twelve lots in the community were actually built. The borrower anticipates being in a position to build homes in the next two months at which point they will begin to pay down the acquisition loan.

Loan Amount: $1,375,000

Yield: 12.00% (Principal Balance ≥ $100,000); 11.75% (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: Six months with an optional six month extension at maturity.

LF The Cove , LLC #4387 – UTAH – FUNDED

First Trust Deed collateralized by four lots in Riverton, Utah. The lots encumbered by this loan represent four of the seven total lots the borrower has developed within the community. The three lots that are not encumbered by this loan are in the process of having homes built on them or have already been sold to end users. It is the intent of the borrower to build through, or directly sell the remaining four lots within the next year. Homes will start at $500,000 each.

Loan Amount: $605,000

Yield: 10.25% (Principal Balance ≥ $100,000); 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: Six months with an optional six month extension at maturity.

Tailor Built Homes , LLC #4386 – UTAH – FUNDED

First Trust Deed collateralized by a fully developed .17 acre residential lot located in Holladay, UT (approximately 11 miles south of downtown Salt Lake City, Utah). Loan proceeds will be used for the construction of a four bedroom, three and a half bath home. The home will be a total of 3,334 square feet with 2,2258 square feet of finished space (does not include the partially unfinished basement).

Loan Amount: $580,000

Yield: 10.25% (Principal Balance ≥ $100,000); 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: Six months with an optional six month extension at maturity.

GGD Oakdale , LLC #4385 – CALIFORNIA – FUNDED

First Trust Deed collateralized by an approximately 81,970 square foot retail building situated on 4.3 acres of land in the heart of Merced, CA (about 117 miles east of San Jose, CA and 59 miles northwest of Fresno, CA). The property was acquired by the borrower in May of 2016 when the property was vacant with the exception of one long established tenant, Rite-Aid. Since the building construction in 1986, Rite-Aid has been the anchor tenant and had been part of a fully leased center until 2014 when the three of the four tenants vacated the premises. Since acquiring the property, the borrower did a complete renovation and upgrade to the building in preparation to attract new tenants. Since the completion of the renovations, one lease has been signed with another that is eminent with strong local and national tenants.

Loan Amount: $3,700,000

Yield: 10.25% (Principal Balance ≥ $100,000); 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: 11 months with one optional 11 month extension period at maturity.

Truman Marketing, LLC #4384 – UTAH – FUNDED

First Trust Deed collateralized by a fully constructed single-family residential home in Salt Lake City, Utah (approximately 2.8 miles south of the heart of downtown Salt Lake City, UT). Since acquiring the home over a year ago, the property has been fully rehabbed and is currently being rented. It is the borrower’s intent to season the asset further as a rental before paying off this loan with their long-term line of credit or to sell it. The home is approximately 888 square feet and consists of 2 bedrooms and 1 baths.

Loan Amount: $159,400

Yield: 10.25% (Principal Balance ≥ $100,000); 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: Six months with an optional six month extension at maturity.

 

 

Bluemountain, Inc #4383 – UTAH – FUNDED

First Trust Deed collateralized by a fully constructed single-family residential home in Murray, Utah (approximately six miles to the south of downtown Salt Lake City, UT). Since acquiring the home over a year ago, the property has been fully rehabbed and is currently being rented. It is the borrower’s intent to season the asset further as a rental before paying off this loan with their long-term line of credit or to sell it. The home is approximately 816 square feet and consists of 2 bedrooms and 1 bathroom.

Loan Amount: $123,200

Yield: 10.25% (Principal Balance ≥ $100,000); 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: Six months with an optional six month extension at maturity.

Woman To Watch: Carrie Cook

Place in the Industry
When Carrie Cook says success in real estate is earned – she knows what she’s talking about.

“I do not have an Ivy League education. In fact, I didn’t go to college until 10 years after I graduated high school,” she explained. The mentor who suggested she do so was, at the time, the head of the Democrat Party in Nevada and running government relations for a Fortune 500 company. “I thought to myself, ‘she’s pushing this for a reason,’” she recalled. Her degree from the somewhat unconventional University of Phoenix taught her to work in a group setting. “It takes a group of individuals to accomplish what I’m accomplishing , period,” she said. “This is the result of a teamwork environment.”

“This” is a small word to describe the extremely big things Cook is doing these days. She is the CEO of Preferred Trust Company, a self-directed IRA custodian, and the president of Ignite Funding, a company which provides turnkey real estate investment opportunities in the Southwest in an unusual and highly collateralized format. “We’re very unique,” she said. “When you invest with us, your name is put on the deed of trust as a […]

Truman Marketing, LLC #4382 – UTAH -FUNDED

First Trust Deed collateralized by a fully constructed single-family residential home in Salt Lake City, Utah (approximately 2.4 miles north east of the heart of downtown Salt Lake City, UT). Since acquiring the home over a year ago, the property has been fully rehabbed and is currently being rented. It is the borrower’s intent to season the asset further as a rental before paying off this loan with their long-term line of credit or to sell it. The home is approximately 768 square feet and consists of 2 bedrooms and 1 baths.

Loan Amount: $62,100

Yield: 10.25% (Principal Balance ≥ $100,000); 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: Six months with an optional six month extension at maturity.

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