Izzy, Author at Ignite Funding

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Gold Rose Group, LLC #5554 | NEVADA – FUNDED

Gold Rose Group, LLC #5554 | NEVADA – FUNDED

The collateral for this loan is a 9,000 square foot custom estate located in Las Vegas, NV. Built in 2001, the “Castle” is a one -of-a-kind property consisting of six bedrooms, nine bathrooms, on 2.24 acres of land. Some of the many features of this French style chateau include, two kitchen islands, seven car garage, hardwood floors, cathedral ceilings, solar field, media room, home gym and a resort style pool. Since acquiring the home and the corresponding land in 2020, the borrower subdivided the “excess” two acres of land into four high end semi-custom homes. All four homes have been built and sold. The borrower recently listed the property for sell for $4,200,000 and expects to have it sold in the coming months. Loan Amount: $2,925,000 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 2/3/24.

By Izzy|August 11th, 2022|Funded Investments|0 Comments

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Mosaic Seven, LLC #5549 | NEVADA – FUNDED

Mosaic Seven, LLC #5549 | NEVADA – FUNDED

The collateral for this loan is a five-acre parcel of vacant land located in the fast growing “West Henderson” area of Las Vegas, NV. Given the areas prodevelopment 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 classification, it is the intent of the borrower to get approval to allow for a multifamily development as part of the entire planned unit development in addition to this property, 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 should be willing to support both residential as well as industrial developments around this area giving the borrower some flexibility with potential uses. 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 2/23/24.

By Izzy|August 10th, 2022|Funded Investments|0 Comments

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Gilbert Care, LLC #5552 | ARIZONA – FUNDED

Gilbert Care, LLC #5552 | ARIZONA – FUNDED

The collateral for this loan is an approximately 14.39-acre site that will be entitled to allow for the construction of medical facilities. On the large three-acre parcel shown in the picture above, the borrower intends to build a 48-bed behavior health facility which is their expertise. With the remaining 11 acres the borrower will look for built-to-suit medical tenants or sell the land off to medical developers. The project sits less than 400 yards from the entrance to the 212 bed Mercy Gilbert Medical Center which opened in 2006. The borrower is currently in discussions with a potential buyer of what will be the behavior health facility. It is the same buyer that has already purchased another behavior health facility from the borrower in 2022. 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. *For investments equal to or greater than $100,000 investors will earn 10.5%. Term: Nine months with no additional extension periods.

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

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Mosaic Seven, LLC #5545 | NEVADA – FUNDED

Mosaic Seven, LLC #5545 | NEVADA – FUNDED

The collateral for this loan are two, two and a half-acre parcels 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 only part of the property is zoned for rural open land, the borrower intends to get approval to allow for industrial design manufacturing which has been approved on many parcels in the area. In addition to this new acquisition, 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 have shown a willingness to support both residential and industrial developments. Loan Amount: $3,725,000 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 4/19/24.

By Izzy|July 19th, 2022|Funded Investments|0 Comments

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Grays Development Company, Inc #5533-5539 | COLORADO – FUNDED

Grays Development Company, Inc #5533-5539 | COLORADO – FUNDED

The collateral for this loan consists of 13.7 partially developed acres of land located in Colorado Springs, CO (approximately 61 miles south of Denver, CO). These 13.7 acres will be developed into 229 residential units consisting of five-20 unit condo buildings, four-10 unit condo buildings, and 89 single family residences. The 229 total units are part of a larger 800 lot community know as Victory Ridge which the borrower originally acquired about five years ago. The townhomes will average 1,500 square feet in size with an anticipated sales price averaging over $500,000. This is the fourth and final takedown the borrower has elected to take from the seller. Lokal Homes, the home builder of this project, is averaging six sales per month since sales began four years ago Master Loan Amount: $22,581,000 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 4/9/24.

By Izzy|July 15th, 2022|Funded Investments|0 Comments

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WCI Obsidian Venture, LLC #5531 | NEVADA – FUNDED

WCI Obsidian Venture, LLC #5531 | NEVADA – FUNDED

First Trust Deed collateralized by 33 acres of residentially zoned land nestled between MacDonald Highlands and Ascaya, two of the premier master planned communities in Southern Nevada. The land was purchased by the borrower in 2020 from an affiliated company of the group that is about to put the property back under contract. Blue Heron is expected to finalize a takedown agreement with the borrower for the purchase of the lots once there are developed. The borrower intends to develop the lots when the final city approval is granted in the coming months (conditional preliminary approval has already been granted). Once Blue Heron finds a buyer for the lot, it will be purchased directly from our borrower and then Blue Heron will build the customer a home on the purchased lot. Loan Amount: $5,700,000 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 4/6/23.

By Izzy|July 11th, 2022|Funded Investments|0 Comments

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Vanquish Capital, LLC #5530 | ARIZONA – FUNDED

Vanquish Capital, LLC #5530 | ARIZONA – FUNDED

The collateral for this first position trust deed is 3.3-acre site that was conditionally approved on 5/4/22 for the construction of a 72-unit townhome project which is laid out on the next page. Since putting the property under contract nearly 14 months ago, not only has the borrower “added value” by locking in their purchase price in a rapidly improving real estate market, but they have also added value by reducing risk in the project by getting the property mostly entitled. Typically, FIG would sell each of the units to individual investors but have found one investor that wants the entire project. With that said, once the building permits are ready to be issued, the investor will close on the sale of the property and purchase it from FIG in one transaction. In the unlikely event the buyer falls out of contract, FIG’s regular investors will acquire individual buildings. Loan Amount: $1,700,000 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 extension at maturity. Final maturity date is 1/6/24.

By Izzy|July 5th, 2022|Funded Investments|0 Comments

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Blue Heron Strata, LLC #5526 | NEVADA – FUNDED

Blue Heron Strata, LLC #5526 | NEVADA – FUNDED

Second Trust Deed collateralized by 4.59 acres of residential land near the corner of Moon Hill Dr and Highland Shores Dr in Henderson, NV (approximately 20 miles southeast of downtown Las Vegas). Although the property is currently 4.59 acres, the borrower is acquiring additional land adding to a boundary line adjustment that would add about 10% more land to the property. Additionally, the lots are currently partly complete, and the seller is obligated to finish the lots before all the money is released to them from escrow. This is anticipated to occur in August of 2022. Homes in this development will average nearly 5,000 square feet with an average sales price of nearly $3,000,000. Within the Lake Las Vegas master planned community in which the development is located, there is a price premium associated with homes that have view of the lake. Most of the lots in this development will have unobstructed views of the lake. Loan Amount: $1,000,000 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 extensions at maturity. Final maturity date is 1/5/23.

By Izzy|July 5th, 2022|Funded Investments|0 Comments

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Citywide Land & Development, LLC #5517-5519 | TEXAS – FUNDED

Citywide Land & Development, LLC #5517-5519 | TEXAS – FUNDED

First Trust Deed collateralized by ten fully developed residential lots in Odessa, TX (about 350 miles west of Dallas, TX and 140 miles south of Lubbock, TX). Ranked as one of the fastest growing micro cities in America, there is a need for new housing supply in this area. The borrower on the loan is acquiring the 10 approximately 0.13 acre lots and has a contractor building each of the units. Each of the 10 units average 1,820 square feet and are three bedrooms with two bathrooms. It is the current intent of the borrower to lease up the units and then sell them to their investors Master Loan Amount: $2,530,000 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 12/13/23

By Izzy|July 5th, 2022|Funded Investments|0 Comments

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Green Level West II, LLC #5523 | NORTH CAROLINA – FUNDED

Green Level West II, LLC #5523 | NORTH CAROLINA – FUNDED

The collateral for this loan is an approximately 10-acre site that will be entitled to allow for the construction of a 74-unit apartment building. This acquisition sits contiguous to two separate properties the borrower has under contract which will total over 40 acres. Since the purchase of this land happened before it was fully entitled, the borrower used Ignite to acquire the property while continuing the entitlements on the whole 40 acres of land. 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 scale. Loan Amount: $3,450,000 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

By Izzy|June 30th, 2022|Funded Investments|0 Comments

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