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Izzy

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So far Izzy has created 225 blog entries.

Lokal Communities, LLC #6063-6070 | COLORADO – FUNDED

The collateral of this loan consists of low-maintenance condominiums located in the Southwestern part of Denver, CO. A majority of the units constructed have been sold already with only 3 remaining available for sale. Condominiums in the community range from 884 to 1,843 square feet and are selling anywhere from $419,990 to $599,990. Lokal Homes is offering two-bedroom, two-bath floor plans along with three-bedroom, three-bath floor plans to accommodate single family residents. The community known as Chatfield Bluffs offers luxury living with amenities including a community clubhouse that offers a fitness center, pool, hot tub, and patio with room for all its residents to enjoy. Each of the units has one car garage included. The borrower currently anticipates completely selling out of the unity by the end of the summer. Master Loan Amount: $2,338,200 Yield: 12% 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 6/26/25.

By |January 8th, 2024|Funded Investments|0 Comments
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Kavison Homes, LLC #6054 | NEVADA – FUNDED

The collateral for this loan is an unfinished residential lot with 0.76 acres of space located just under one mile east of the Harry Reid International Airport in Las Vegas. Improvements include multiple points of ingress and paved roads to the parcel. In the surrounding area there are other residential communities and commercial units located on the north, east and south sides of the lot. The lot was sold back in June of 2022 and has been sat on due to the economy, but it has now been deemed an exceptional time to start funding this project that includes eight townhomes. The borrower has already consulted with a few of the top developers in Las Vegas to price out construction jobs. The borrower ultimately chose M Square Development to build these townhomes. Homes in this townhome community sit at 2,888 square feet. Loan Amount: $1,100,000 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 6/27/25.

By |January 5th, 2024|Funded Investments|0 Comments
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Nola Star Holdings, LLC #6058 | NEVADA – FUNDED

The collateral for this loan is a residentially zoned 8.83-acre parcel of land situated near the NW corner of Smoke Ranch Rd and Rancho Dr. The property is directly north of an 11.77-acre site that the borrower is currently building over 300 apartment units on. Our collateral will be the next phase of development and will continue with the multifamily development. Both parcels are just west of the North Las Vegas Airport. At the northernmost cross access easement, which extends west from North Rancho Drive, there is a signaled traffic light which also greatly improves access to the sites. In the surrounding area there are other residential communities and commercial units located on all sides surrounding the lot. Also, all underground utilities, including gas, water, and sewer are completed and extended to the subject site. The lot was purchased about three years ago and since that time the borrower has started construction on the first phase and will begin construction on this phase in about a year Loan Amount: $7,366,000 Yield: 11% 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 additional nine-month extension

By |December 15th, 2023|Funded Investments|0 Comments
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Rhino Holdings Grimes, LLC #6027 | NEW MEXICO – ($600K Available)

The collateral for this loan consists of a former K-Mart in Hobbs, NM which is approximately 300 miles southeast of New Mexico’s largest city, Albuquerque. This 88,849 square foot facility was purchased by the borrower in 2018 after the previous tenant moved out leaving the property completely vacant. Since that time the borrower has leased 87% of the project to national brands which will open for business once the tenant improvement work is completed. This loan will be used to refinance the acquisition of the property and future tranches will be used to complete the six million of work on the property. Most of the money will go into tenant specific work but some will be utilized for repair to the structure, landscaping, lighting, and to repave the parking lot. Master Loan Amount: $15,880,000 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 5/27/25.  

By |November 27th, 2023|Available Investments|0 Comments
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Three Palms, LLC #6012 | NEVADA – FUNDED

The collateral for this loan is a 0.35 acre finished residential lot in McDonald Ranch which is a luxury, guard gated community in Henderson, NV (a suburb of Las Vegas). The lot was purchased in early 2023 for approximately $1,400,000 and since that time the borrower has been working with the city and HOA to get construction drawings approved to build a spec home. The home would be about 8,000 square feet with an asking sales price north of $7,000,000. This would be the fourth such home the borrower has built in the same community over the past few years. He also has another lot in this community that is ready to begin construction. Loan Amount: $980,000 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 5/01/25.

By |November 22nd, 2023|Funded Investments|0 Comments
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MJZ, LLC #6005 | NEVADA – FUNDED

The collateral for this loan is a finished residential lot in Lake Las Vegas which is a master planned community surrounding the second largest reservoir in Southern Nevada. The lot was sold by the master planned developer directly to the borrower instead of going through a production home builder which is more typical for this type of transaction. The borrower has already consulted with a few of the top custom home builders in Las Vegas to price out potential construction jobs. The borrower ultimately chose JAG Development to build this home. Custom homes in this community average about 6,000 square feet and are valued at nearly $5,000,000. The borrower has submitted plans for a 5,500 square foot home with an estimated cost of over $4,000,000. Loan Amount: $514,000 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 no extensions at maturity. Final maturity date is 7/16/24.

By |October 19th, 2023|Funded Investments|0 Comments
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Grays Development Company, Inc #5998-#6000 – FUNDED

First Trust Deed collateralized by a parcel of land in the Eastern part of Denver within one of Denver’s top-ranked neighborhoods. The collateral of this loan consists of three “super pads” that will each have a 20-unit condo building constructed on them. The remaining 60 units represent the last remaining units within the community as the other seven buildings have either already been sold to end buyers or are in some stage of development. Condominiums in the community average just over 1.100 square feet and are selling for an average of nearly $390,000 since its inception back in September of 2021. The two- and three-bedroom condos are currently selling for over $400,000 with additional price increases planned in the future. The community known as Gateway Commons offers luxury, low maintenance living with amenities including a central grass park with a fire pit and a dog park. Each of the units has one car garage included. The borrower currently anticipates selling one super pad to their related building arm every six months starting in January of 2024. Master Loan Amount: $3,330,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day

By |September 29th, 2023|Funded Investments|0 Comments
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Alpine Village, LLC #5895 – FUNDED

A 1.46 acre parcel of land, situated near the mouth of Kyle Canyon in Las Vegas, NV is the collateral for this first trust deed loan. This part of Las Vegas has seen more residential building permits pulled over the past year than nearly all other submarkets. As the old adage goes; “commercial follows rooftops.” This property is a prime example of that. The borrower intends to get zoning approval for the ultimate construction of a car wash and tire shop which will be nearly surrounded by newly constructed homes. The borrower will also have the property presold shortly after acquiring the parcel to the car wash operator who will ultimately occupy one of the two buildings. The completion of the zoning process which will be the triggering event to sell the project is anticipated to be completed in approximately nine months. Loan Amount: $1,280,000 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 4/3/25.

By |September 29th, 2023|Funded Investments|0 Comments
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Slot Gaming Land Holdings, LLC #5988 | NEVADA – FUNDED

The collateral for this loan is a 1.13-acre piece of land located near the corner of Whispering Sands Dr and Garehime St. Since acquiring the site in April of 2022, the borrower worked with the city to allow a parcel split, subdividing the existing parcel into two separate lots. This was considered a conforming zone change so it wasn’t a matter of “if” it would be allowed but “when”. Now that the parcel split is behind them, building plans for two homes have been approved with the city. The homes average about 4,000 square feet each and are both single stories. Once the homes are framed, they will be listed for sale so potential buyers can pick out their finishing touches like countertops, cabinets, and color. 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. Term: Nine months with an optional nine-month extension at maturity. Final maturity date is 3/27/25. *For investments equal to or greater than $100,000 investors will earn 10.5%.

By |September 27th, 2023|Funded Investments|0 Comments
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JCM Development, LLC #5992 | MONTANA – ($350K Available)

The collateral for this loan consists of an approximately 3.94-acre parcel of land which is currently zoned B-2 giving the borrower options for many businesses uses such as manufacturing, retail, residential and multifamily. It is the intent of the borrower to construct a retail center on the site. The total size will be approximately 53,000 square feet. He is already working with four different local and regional tenants to occupy the property which he expects to be fully leased by the spring of 2024, before the project is completely built. Just to the west of the site, within the same development, the borrower is currently constructing about 70 units of multifamily fourplex’s which will be a great built-in customer base for these retailers. Master Loan Amount: $8,000,000 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 3/19/25. * Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period.  

By |September 22nd, 2023|Available 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 877.739.9094 | 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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