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Izzy

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So far Izzy has created 225 blog entries.

17th and Sheridan, LLC #5976 | COLORADO – FUNDED

First Trust Deed collateralized by a parcel of land on the Southeast corner of 17th Ave and Sheridan Blvd in Denver, CO. This site is directly across the street from Sloan’s Lake, the second largest park in Denver and one of Denver’s fastest growing neighborhoods. The site allows for a high-density residential redevelopment project. The city has already approved a 67-unit garden style for sale, stacked flat product (an artist’s rendering is shown in the picture above). Although this loan is just to refinance the acquisition of the project and to complete the development work, the total project cost will be nearly $16,000,000. Over the coming months, the borrower will work with subcontractors to finish the site development work in an effort to get the project ready for vertical construction. It is anticipated the borrower will be able to pay off this loan with construction financing in about six months. Master Loan Amount: $6,500,000 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 |September 6th, 2023|Funded Investments|0 Comments
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Prez Enterprises, Inc #5955-#5970 | TEXAS – FUNDED

First Trust Deed collateralized by 16 fully built residential homes in Wolfforth, TX (about 12 miles southwest of Lubbock, TX). Consistently ranked in the fastest growing markets in Texas, there is a need for new housing supply in this area. The borrower is purchasing these 16 completed units from Betenbough Homes as a bulk transaction since a different buyer fell through. The borrower is under contract to purchase the completed homes at a discounted price given the longstanding relationship between the borrower and builder. Our borrower will then lease up the properties and sell the rented properties to their investors as cash flowing assets. Each home sits on approximately .17 acres of land with units ranging from 2,446 to 2,700 square feet in size. The borrower and seller have a long track record of performance which is part of the reason our borrower can get these units at such a discount. This is the fourth such loan structure that we have done with this borrower. Master Loan Amount: $5,352,000 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

By |September 6th, 2023|Funded Investments|0 Comments
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Future Legends, LLC #5952 | COLORADO – FUNDED

First Trust Deed collateralized by roughly 100 acres of land which will eventually be developed into a youth sports facility, surrounding a professional baseball stadium. The overall complex will combine all elements needed for a successful youth sports faculty including restaurants, fields, hotels, retail, dormitories, and other amenities. The site is located about two miles east of downtown Windsor (60 miles north of Denver, CO). After purchasing the Orem Owlz minor league baseball team in 2004, the borrower envisioned developing a youth sports complex integrated into a minor league baseball facility. This vision is being manifested into the Future Legends Complex which will consist of 12 soccer fields, 10 baseball diamonds, a 64-team dorm, with retail shops and hotels surrounding the complex. This loan will encumber everything owned by the borrower in the area excluding the stadium, dorms, future hotel parcels, and the retail area which already has bank financing in place or in process. The 100 collateralized acres will continue to be developed by the borrower using the financing from this loan and additional money from the borrower. It is anticipated that the collateral for this loan will be fully developed within three months of this loan closing. Loan

By |August 18th, 2023|Funded Investments|0 Comments
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Prez Enterprises, Inc #5939-#5950 | TEXAS – FUNDED

First Trust Deed collateralized by 12 fully built residential homes in Wolfforth, TX (about 12 miles southwest of Lubbock, TX). Consistently ranked in the fastest growing markets in Texas, there is a need for new housing supply in this area. The borrower is purchasing these 12 completed units from Betenbough Homes as a bulk transaction since a different buyer fell through. The borrower is under contract to purchase the completed homes at a discounted price given the longstanding relationship between the borrower and builder. Our borrower will then lease up the properties and sell the rented properties to their investors as cash flowing assets. Each home sits on approximately .17 acres of land with units ranging from 2,446 to 2,700 square feet in size. The borrower and seller have a long track record of performance which is part of the reason our borrower can get these units at such a discount. This is the fourth such loan structure we have done with this borrower. Master Loan Amount: $3,991,000 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

By |August 15th, 2023|Funded Investments|0 Comments
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Harmony Homes Nevada, LLC #5916-5922 | NEVADA – FUNDED

First Trust Deed collateralized by 94 substantially completed residential lots near the corner of Vegas Dr and Rancho Dr (five miles northwest of downtown Las Vegas, NV). Since purchasing the property nearly five years ago, the borrower worked with the city to get a 248-lot community approved. The first phase of the community began selling in 2022 and will continue until all 148 lots in the first phase are done. All homes in this first phase have been sold with an average sales price of approximately $340,000. This loan encumbers most of the second (last) phase of the community. The borrower anticipates being sold out of the community in early 2025 Master Loan Amount: $3,102,000 Yield: 10% iterest 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 2/6/25.

By |August 10th, 2023|Funded Investments|0 Comments
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Rhino Holdings Clackamas, LLC #5934 | OREGON – FUNDED

The collateral for this loan is an approximately 121,137 square foot building that is part of the Clackamas Town Center in Happy Valley, OR (approximately 10 miles southeast of downtown Portland, OR). The site is 7.49 acres and is one of the largest buildings that is part of the Clackamas Town Center which is second most visited shopping center in Oregon with 9.4 million annual visitors in 2020.Located in Happy Valley, the second wealthiest city in Oregon, is known as “a gem with a great name.” This building was once home to Nordstrom but has been vacant for nearly three years. The borrower is in negotiations with one of the world’s largest indoor “fun parks” to occupy the entire facility. The prospective tenant has over ten locations spread across the America’s. Loan proceeds will be used to acquire the site, pay leasing companies, permits, deferred capital improvements, tenant improvements, and carrying costs. Loan Amount: $14,000,000 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 an optional nine-month extension at maturity. Final maturity date is 2/9/25.

By |August 2nd, 2023|Funded Investments|0 Comments
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Midway Land Holdings, LLC #5923 | UTAH – SOLD OUT

First Trust Deed collateralized by roughly 25 acres of partially improved land which will eventually be developed into 143 townhomes as well as a few commercial pads. This is the next phase of the successful Whitaker Farms project the borrower completed three years ago. Since acquiring the property in September of 2020, the borrower has torn down the old buildings on site and received master plan approval for the entire project. Additionally, phase one through three final map will be approved with the payment of fees and posting a bond, all of which this loan will be used for. Future fundings will be used for the development of phase two and three as well as to get the final map approved on the last two phases. In all, there will be 143 units built in the community, some of which will allow for nightly rentals. Additionally, the borrower already has over 40 reservations for the townhomes and two of the commercial pads even though homes won’t be finished for at least nine more months. Master Loan Amount: $37,300,000 Yield: 10% Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period.

By |July 25th, 2023|Available Investments|0 Comments
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Forever Home, LLC #5900 | IDAHO – FUNDED

The collateral for this first position trust deed is a nearly 1.25-acre property with a 4,150 square foot home on it. This six bedroom, four and a half bathroom custom home was built in 1977 in the Aspen Grove Subdivision, an idyllic community situated in Meridian, ID which is about 13 miles West of Boise, ID. Over the past year nearly the entire home has been updated with new and modern fixtures. Loan Amount: $800,000 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 additional extensions available. Final maturity date is 4/27/24.

By |July 25th, 2023|Funded Investments|0 Comments
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Grays Development Company, Inc #5902-#5914 – FUNDED

The collateral for this loan consists of the remaining 128 finished lots in this 204-community located in Colorado Springs, CO (approximately 61 miles south of Denver, CO). These 204 lots are part of a larger 800 lot community known as Victory Ridge which the borrower originally acquired portions of about six years ago. 56 of the remaining lots are standard rowhome lots while 72 are “back-to-back” lots which enables greater density and affordability within the community. The average sales price of the finished project in 2023 has been nearly $480,000 with the average size of the units has been over 1,500 square feet. Master Loan Amount: $11,995,200 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 two optional nine-month extensions at maturity. Final maturity date is 10/24/25.

By |July 18th, 2023|Funded Investments|0 Comments
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Harmony Homes Nevada, LLC #5884-#5894 | 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 a month, 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 low $300,000’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. *For investments equal to or greater than $100,000

By |July 12th, 2023|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 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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