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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.

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.

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.

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.