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BlueM Holdings, LLC., #4417 – UTAH – FUNDED

First Trust Deed collateralized by a fully constructed single-family residential home in Magna, Utah (approximately 15 miles west of Salt Lake City, UT). The home has recently been acquired by the borrower with the intent of fixing it up and either selling it or holding onto it as a rental unit. After acquiring the property, the borrower has begun work to rehab the home in order to better position this approximately 1,222 square foot 4 bedroom, 2 bathroom home for sale or rent.

Loan Amount: $123,000

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 a six month extension.

Old Chicago Ventures, LLC., #4416 – FLORIDA – FUNDED

The collateral for this loan consists of 6.71 acres of land located in Kissimmee, FL (approximately 24 miles south of Orlando, FL). As it currently stands, the site is zoned for “Tourist Commercial”. This designation is primarily intended for intense- tourist related housing, commercial and recreational land uses within the County’s adopted Short Term Rental Overlay boundary. Residential uses are permitted and would be the most viable option for this site. The property was appraised in September of 2014 for $1,600,000. Ignite Funding also received a BPO for the site back in June of 2017 when the loan was originated for $1,800,000. As of today, the property is under contract to sell to a third party for $1,600,000 in December of 2017.

Loan Amount: $750,000

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.

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    Shapeshift Investments, LLC., #4415 – WASHINGTON – FUNDED

Shapeshift Investments, LLC., #4415 – WASHINGTON – FUNDED

First Trust Deed collateralized by a 2,230 square foot home in SeaTac, WA (approximately 13 miles south of Seattle, WA). Comps in the area sell for an average of $450,000 with homes directly across the street selling for more than $500,000. The borrower is able to acquire the property for significantly under market value do to the seller needing to sell the home quickly. It is the borrower’s intent to spend approximately $20,000 in repairs to rehab the property in order to better position the asset to demand a higher sales price. Repairs are anticipated to be completed in the first two weeks of the six month loan. The remaining term of the loan will be used to procure a buyer and get the property closed. Although the borrower will not be adding any space to the home or changing the bedroom count (3 beds, 2 baths), most of the money will be used to replace the carpet, re-floor the home, remove one wall, and repair the septic tank.

Loan Amount: $350,000

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 […]

Harmony461, LLC., #4413 – NEVADA – FUNDED

First Trust Deed collateralized by eight approximately 0.10 to 0.15 acre fully-developed residential lots located in Avalon community in the Vista Cielo subdivision in North Las Vegas, Nevada. The subdivision includes over 85 completed homes as well as completed common areas, parks, two pools, and landscaping. The main entrance to the subdivision is located across the street from the entrance to Shadow Creek Golf Course near the corner of Ann Road and Losee Road. The borrower also owns the 100+ lot community directly to the north of this site which they plan to begin sales in late 2015.

Loan Amount: $198,000

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.

Court Hampton Holdings, LLC., #4412 – NEVADA -FUNDED

First Trust Deed collateralized by five finished residential lots located in the Talus community which is located nine miles east of Las Vegas, NV. Harmony Homes have sold out of the first phase of the community which they have been selling since 2010. The second phase consists of 123 lots of which over 60 have already been sold since opening in late 2015. Homes in the community start selling at $237,000 and range from 1,801 to 3,024 square feet in three to six bedroom floor plans. In addition to selling 45 units in the past 10 months, prices have increased by over $12,000.

Loan Amount: $314,600

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.

Harmony461, LLC, #4411 – NEVADA – FUNDED

First Trust Deed collateralized by approximately 10 gross net acres of residential land located near the Vista Cielo subdivision in North Las Vegas, Nevada. Vista Cielo is a 100 lot community owned and built by Harmony Homes. This residential land, along with another piece of land just to the south of this one will be developed into one of the last phases of the community. The main entrance to the subdivision is located across the street from the entrance to Shadow Creek Golf Course, with Mojave High School just west of the lot.

Loan Amount: $262,000

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.

Harmony461, LLC., #4410 – NEVADA – FUNDED

First Trust Deed collateralized by approximately 6.93 net acres of residential land located near the Vista Cielo subdivision in North Las Vegas, Nevada. Vista Cielo is a 100 lot community owned and built by Harmony Homes. This residential land, along with another piece of land just to the south of this one will be developed into one of the last phases of the community. The main entrance to the subdivision is located across the street from the entrance to Shadow Creek Golf Course, with Mojave High School just west of the lot.

Loan Amount: $262,000

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 Plum Creek Towns, #4409 – Colorado

The collateral for this loan consists of 45 mapped and partially developed residential lots located in Castle Rock, CO (approximately 32 miles south of Denver, CO). These 45 lots are approximately 20% complete and it is anticipated that they will be fully completed by the end of the year. Upon completion of development the borrower will begin building and selling the homes with an average sales price of $355,000. Within the community Richmond American Homes is currently selling single family homes that average $480,000. There are less than 20 lots that remain for sale which should be all sold by the time the borrower begins selling homes.

Loan Amount: $3,100,000

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.

Mosaic Four, LLC #4408 – NEVADA – FUNDED

First Trust Deed collateralized by 7.5 gross acres of land currently zoned R-E to allow for two units per acre (a total of 15 units) although there is a resolution of intent for R-2 zoning which allows up to eight units per acre (a total of 60 units). Located in Enterprise, NV (approximately 18 miles Southeast of Las Vegas, NV) the property is nearly adjoining Mountain’s Edge, Southern Nevada’s premier master planned community. With the close proximity to Mountain’s Edge, future residents of this community will be able to enjoy all the amenities that Mountain’s Edge provides without paying community and master association dues which top $500 per month. This collateral is located within section 19, a 640 acre parcel, of which the borrower owns or manages 150 acres that is currently going through the same zoning conversions. The zoned land will ultimately be sold to home builders, just as the collateral for this loan will. It is anticipated that the collateral of this loan will be the first part developed and sold due to the proximity to the nearest utilities.

Loan Amount: $2,470,000

Yield: 10.25% (Principal Balance ≥ $100,000); 10.00% (Principal Balance < $100,000) Interest is paid monthly in arrears […]

KD Commerce L.L.C., #4407 – NEVADA – FUNDED

First Trust Deed collateralized by two fully developed residential lots located on the Northeast corner of West Centennial Parkway and North Commerce Street in North Las Vegas. These two lots are within a larger 134 lot community, of which almost 100 have been sold to end users. The two lots have permits submitted to build a duplex, one unit on each lot. Each unit will be two stories and have a two car garage. The unit on the APN ending in -063 will be 2,314 square feet and the unit on the APN ending in -064 will be 2,296 square feet. Each will be three bedrooms with two baths.

Loan Amount: $437,000

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.

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