Izzy, Author at Ignite Funding

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Rhino Holdings Sparks, LLC #5605 | NEVADA – FUNDED

Rhino Holdings Sparks, LLC #5605 | NEVADA – FUNDED

Since acquiring a majority of the shopping center for $19,100,000 in the past year, the borrower is looking to refinance the collateral of the remaining 66,000 square foot shopping center. The collateral has existing regional tenants like Dotty’s, Paycheck Advance, Metro PCS, and a T-Mobile cell tower. Other tenants in the center include Tractor Supply Company, Autozone, Harbor Freight Tools, Applebee’s, Jack in the Box, Sizzler, Firehouse Subs, and El Pollo Loco. Since acquiring the property, the borrower worked to get a parcel map recorded to sell individual parcels/buildings to prospective buyers. This was done to take advantage of the arbitrage between bulk sales and triple net sales. Simply put, the parts are worth more than the whole. The borrower will continue to work to increase the current occupancy of 66%. Occupancy would increase to 92% once the four tenants he is currently working with sign a lease. Upon getting the occupancy increased, the borrower will begin to sell individual buildings unlocking the additional value in the property. Master Loan Amount: $14,750,000 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

By Izzy|November 7th, 2022|Funded Investments|0 Comments

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Sargem Management, LLC #5598 | NEVADA – FUNDED

Sargem Management, LLC #5598 | NEVADA – FUNDED

First Trust Deed collateralized by just over 18 acres of land in North Las Vegas, NV. Although the property is currently a level piece of dirt, it had a vibrant past. The property was home to apartments beginning in the early 1960’s and transitioned into low-income housing in the 80’s. As time went on, the property became very rundown, and riddled with crime. After the Department of Housing and Urban Development foreclosed on the previous owner during the financial crisis of 2008, the borrower began working with HUD and the city of North Las Vegas to plan what will eventually become a key piece to the city. The borrower formally acquired the property in October of 2020 for over $3,000,000 and will formally obtain city approval for an eight-building medical complex in late 2022. The borrower will then construct and sell each of the buildings once completed which is anticipated to begin in about a year. Loan Amount: $6,000,000 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 5/1/24.

By Izzy|October 27th, 2022|Funded Investments|0 Comments

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SR Decatur Apts, LLC #5595 | NEVADA – FUNDED

SR Decatur Apts, LLC #5595 | NEVADA – FUNDED

The collateral for this loan is a 5.33 gross acre parcel of land that has been approved for multi-family use of up to 191 total units. Located on North Decatur, the property is about five miles Northwest of downtown Las Vegas, NV. Since acquiring the site in 2019, the borrower worked with the appropriate government officials to get the zoning changed to C-1, Limited Commercial District which will allow apartments. Given the good visibility to the North and West of the property, apartments should have an easy time leasing. Loan Amount: $2,300,000 Yield: 10% interest Schedule: 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 5/1/24.

By Izzy|October 27th, 2022|Funded Investments|0 Comments

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JCM Development, LLC #5599 | MONTANA – FUNDED

JCM Development, LLC #5599 | MONTANA – FUNDED

The collateral for this loan consists of an approximately 1.67-acre parcel of land which is currently zoned B-2 giving the borrower options for many business uses such as manufacturing, residential and multifamily. It is the intent of the borrower to get final approval for a six building, 24-unit, residential development. Each of the six buildings would be fourplexes to allow for a multitude of takeout financing options. Each of the units will be three bed, two bath units with rental rates averaging $2,200 per unit. With an extremely strong rental demand in the area, it is anticipated all the units would be absorbed by the market within one month of completion. The fourplex configuration gives the borrower options of selling individual buildings or refinancing the whole project as an investment. Master Loan Amount: $4,200,000 Yield: 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 4/16/24.

By Izzy|October 24th, 2022|Funded Investments|0 Comments

Hughbanks Properties XXII, LLC #5594 | NEVADA – FUNDED

The collateral for this loan is a 9.12 gross acre parcel of land that has been approved for an eight-unit residential neighborhood. Since acquiring the land in 2019, the borrower successfully obtained final action approval for the development in October of 2020. Since that time the borrower prioritized an adjacent project that needed utilities brought to the site before going forward on this property. With utilities now at the property line, the borrower will begin developing the project that will ultimately become a semi-custom home community that will be built by a sister company of the guarantors. Loan Amount: $1,350,000 Yield: 10% interest Schedule: 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: Seven months with no optional extension at maturity. Final maturity date is 5/20/23.

By Izzy|October 21st, 2022|Funded Investments|0 Comments

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Village at St Rose, LLC #5570 | NEVADA – FUNDED

Village at St Rose, LLC #5570 | NEVADA – FUNDED

First Trust Deed collateralized by a 11.7-acre parcel of land approximately 13 miles south of downtown Las Vegas, NV. Since acquiring the property in late 2018, the borrower has continued to work with local city and county officials to get the property zoned for its intended use. Now that the property zoning of “mixed use” is in place, they have continued to work with officials to get the tentative map approved for a 300,000 square-foot development that will feature a mix of retail, office and medical space. Although leasing is ongoing, the borrower has received approval from the tenant that will occupy over 50% of the project. Loan Amount: $13,300,000 Yield: 10% interest Schedule: 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 3/20/24.

By Izzy|September 13th, 2022|Funded Investments|0 Comments

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Chicks Dig Scars, LLC #5565 | NEVADA – FUNDED

Chicks Dig Scars, LLC #5565 | NEVADA – FUNDED

The collateral for this loan is a 1.13 acre parcel of land located in the “Arts District” of Las Vegas, Nevada. The Arts District has seen an enormous amount of revitalization after large capital infusions in the area have completely changed the overall dynamics. The 32,000 square foot building was originally constructed in the 1950’s for Mission Linen Supply company which provided uniforms for the casinos throughout the 20th century. The plan of the borrower is to preserve the historical aesthetic of the building by bringing in three synergistic tenants to the area. Half of the space will be occupied by the Evel Knievel Museum which will become the flagship Evel Knievel experience and museum. The other half of the property will be occupied by a pizza tenant and a café. Over the next 12 months, the borrower anticipates spending nearly $10M prior to closing on a construction loan. Total project costs re expected to be $19.2M. Loan Amount: $4,950,000 Yield: 10% interest Schedule: 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

By Izzy|September 13th, 2022|Funded Investments|0 Comments

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Mosaic Seven, LLC #5563 | NEVADA – FUNDED

Mosaic Seven, LLC #5563 | NEVADA – FUNDED

The collateral for this loan is a 3.85 net acre parcel of vacant land located in the fast growing “West Henderson” area of Las Vegas, NV. Given the areas pro-development city officials, the area has seen robust growth in the past few years with much more development planned in the near future. Although the property does not currently have a zoning designation, it is the intent of the borrower to get approval to allow for industrial design manufacturing which has been approved on many parcels in the area. In addition to this parcel, the borrower also owns or controls over 170 additional acres in the area. One of the advantages of parcels in the area is that city officials would be willing to support both residential as well as industrial developments on the site. Loan Amount: $3,258,000 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 3/21/24.

By Izzy|September 8th, 2022|Funded Investments|0 Comments

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Green Level West I Apartments, LLC #5564 | NORTH CAROLINA – FUNDED

Green Level West I Apartments, LLC #5564 | NORTH CAROLINA – FUNDED

The collateral for this loan is an approximately 25-acre site that will be entitled to allow for the construction of a 300+ unit apartment building. This site sits contiguous to another property the borrower already owns which totals roughly 35 acres. Since acquiring this site and the property next door, about a year ago, the borrower has worked with the city to modify the zoning to allow for apartments. They are continuing to work with the city to obtain approval on their building plans. This has been a bit slower process than originally anticipated because they “teamed up” with the property owner next door. On the other side of the property construction has begun on over 1 million square feet of medical space that is owned by Duke Health. The city has already expressed a desire on their master plan to make this corridor the new “heart” of the city which bodes well for the long-term viability of the project and the short term needs to get the property entitled. The borrower for this loan is working alongside Duke Health to get the two projects combined into one master plan which will increase the property’s value given the economies of

By Izzy|August 26th, 2022|Funded Investments|0 Comments

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Rhino Holdings Coldwater, LLC #5557 | MICHIGAN – FUNDED

Rhino Holdings Coldwater, LLC #5557 | MICHIGAN – FUNDED

First Trust Deed collateralized by roughly 11 acres of commercially zoned land in Coldwater Michigan which is midway between Chicago and Detroit. Since purchasing the property in 2019, the borrower has successfully reduced the vacancy by signing Harbor Freight to a long-term lease. Harbor Freight had their grand opening on 8/13/22. Additionally, the borrower is working with another national retailer to increase the overall occupancy to 85%. Once that lease is signed, the borrower will begin to advertise the property for sale. Loan Amount: $3,000,000 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 2/13/24.

By Izzy|August 23rd, 2022|Funded Investments|0 Comments

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