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So far Mike Mahony has created 9 blog entries.

Tailor Built Homes, LLC #4484 | UTAH – FUNDED

First Trust Deed collateralized by a fully developed residential pad located in Millcreek, UT (approximately 10 miles south of downtown Salt Lake City, Utah). Loan proceeds will be used for the construction of one townhome building consisting of two townhomes. Each townhome will be approximately 1,100 square-feet, two-bedroom, two-bath homes. Loan Amount: $900,000 Yield: 10.00% (Principal Balance < $100,000); 10.25% (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 an optional six-month extension at maturity.   Project Update: Our Director of Underwriting made a site visit to see the progress of the Tailor Built Homes Loan #4484. This is the view from the building.

KD Commerce L.L.C., #4404 – 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 -057 will be 2,296 square feet and the unit on the APN ending in -058 will be 2,314 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.

KD Commerce L.L.C., #4402 – 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 -055 will be 2,314 square feet and the unit on the APN ending in -056 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.

Yousef, LLC #4338 | CHICAGO – FUNDED

First Trust Deed collateralized by three fully leased commercial buildings in and around Chicago, Illinois. The borrower has owned the properties starting in 1983 and plans to continue to own them for the foreseeable future. All of the properties are currently leased to US Autos, APEX Inc., and Midwest Allergy, respectively with an average duration of the leases through the middle of 2018. It is the intent of the borrower to pay off this loan through the refinance of the properties once more conventional bank financing is available. Loan Amount: $1,650,000 Yield: 10.00% (Principal Balance < $100,000); 10.25% (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: Twelve months with an optional six month extension at maturity.                           

Modern Living with kathy ireland Explores How Ignite Funding Facilitates Real Estate Investments for Investors

Tune in to E! Entertainment as sponsored programming on Thursday, February 11, 2016 and Bloomberg International as sponsored programming on Sunday, February 14, 2016 featuring Ignite Funding. View Program   (LAS VEGAS, February 2, 2016) – Ignite Funding announces an exclusive feature story conducted on Modern Living with kathy ireland, a weekly business television program featuring real-world insights from corporate executives from all over the globe. Kathy Ireland interviewed Ignite Funding’s President, Carrie Cook, to learn more about our services and solutions. She asks poignant questions about why so many investors steer clear of the real estate market during the segment; how Ignite Funding mitigates risk and how Ms. Cook has risen to the level she has in her career. Through a detailed field report, Modern Living explores the types of investments available, how borrowers use the funds and how easy it is to get started by speaking with a current investor, Edna Martinez. Ms. Martinez shared her story, “There are very few places to invest your money these days with any comfortable feeling of return.” Speaking of her investments with Ignite Funding Ms. Martinez explains, “The income I get now that I am retired supplements my income quite nicely.”

By |February 2nd, 2016|Blog|0 Comments

KD Commerce, LLC #4246 | Nevada – FUNDED

First Trust Deed collateralized by 64 partially completed residential lots and 36 finished lots. Located on the Northeast corner of West Centennial Parkway and North Commerce Street in North Las Vegas, Nevada. During the term of the loan the borrower will finish the development of the partially and fully developed lots and begin selling homes in the community. These lots represent the second phase of the planned development. Phase one of this community has been completed and is fully occupied with multi-duplex units averaging 2,000 square feet in size. This loan represents the second phase of the community. Loan Amount: $4,950,000 Yield:(principal value > $100,000): 11.25% Yield:(principal value < $100,000): 11.00% Term: 12 Months with one optional 12 month extension at maturity. These investment are on a first come, first serve basis.

Douglas D Franklin | Loan #4234

First Trust Deed collateralized by approximately 7.97 acres of graded residential land located in Vidor, Texas (approximately 99 miles east of Houston, TX). This land has recently been parceled off from the borrower's primary residence to become a 14 lot community to be known as Moonlight Manor. The land has been partially graded in preparation for the full development of the community. The loan proceeds will be used to finalize the development of all 14 lots and to build four homes. Homes in the community will range between 2,400 and 2,900 square feet with an anticipated sales price of $110 per square foot.  Loan Amount: $1,100,000 Yield:(principal value > $100,000): 10.25% Yield:(principal value < $100,000): 10.00% Term: 12 Months with one optional six month extension period at maturity. These investment are on a first come, first serve basis.

Tailor Built Homes, LLC | Loan #4230

First Trust Deed collateralized by two fully developed residential lots situated just west of Interstate 15 in West Jordan, Utah (approximately 15 miles south of Salt Lake City, Utah). Loan proceeds will be used for the acquisition of the lots which average a half acre in size. The borrower has successfully built and sold out of the first phase of the community and has now begun purchasing the lots from the second phase of the community. Over the next six months, the borrower will have purchased all the lots in the second phase. Within the first phase, the borrower built a home that was showcased in the 2015 parade of homes. One of the lots that they will be acquiring in the second phase will become an entrant into the 2016 parade of homes. Loan Amount: $420,000 Yield:(principal value > $100,000): 10.25% Yield:(principal value < $100,000): 10.00% Term: 6 Months with one optional 6 month extension period at maturity. These investment are on a first come, first serve basis.

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