Available Investments - Ignite Funding

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Hillwood Homes at Midway 18, LLC #6284 | UTAH – ($1M Available)

Hillwood Homes at Midway 18, LLC #6284 | UTAH – ($1M Available)

First Trust Deed collateralized by three finished lots in the Bonner Meadows community of Midway, Utah. Two of the three lots, 11 and 16, have been presold and the last lot (lot 1) is a spec home. The floor plan for lot 1 is Zurich with 4,584 sq/ft, lot 11 is Lucerne with 4,147 sq/ft, lot 16 is Rhine with 4,970 sq/ft and foundations are ready to be poured. Bonner Meadows is the newest luxury community by premier builder Hillwood Homes. There are 18 lots with 8 semi-custom layouts to choose from. Midway is an affluent suburb of Salt Lake City with Swiss influence and geographic similarities. They even host an annual Swiss Day parade, celebrating Alpine heritage. Bonner Meadows is in the heart of the city, just south of Main Street. It is 7 minutes away from the Provo River where you can fly fish for rainbow trout year-round. Master Loan Amount: $3,000,000 Term: Nine months with an optional nine-month extension at maturity. The final maturity date is 12/22/25. 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 Izzy|July 12th, 2024|Available Investments|0 Comments

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Goodyear 49, LLC #6298 | ARIZONA – ($2.1M Available)

Goodyear 49, LLC #6298 | ARIZONA – ($2.1M Available)

The collateral for this loan is a 4.6 net acre site in Goodyear, AZ. The project will consist of 47 attached residential townhome units. All units will have three bedrooms and two and a half bathrooms ranging from 1,690-1,801 square feet. The modern looking townhomes will be constructed as a for sale community instead of the “build-to-rent” model that is prevalent in Arizona. The wet and dry utilities are almost complete for the entire site. Goodyear was founded by the tire and rubber company to grow the cotton used for their tires. The company shifted their focus from cotton to real estate and land development in the 1960s. Metro Phoenix is home to about 5 million people where net migration continues to fuel its growth. Over the past two decades, Phoenix has grown by nearly 100,000 people every year. Phoenix’s relatively young population with the age cohort 25-34 containing the largest percentage of residents (about 15%) are ideal purchasers/renters for the entry level townhomes. Although it is not the intent to hold the property as a built to rent community, the buyer has been approached by multiple equity firms to purchase the finished product when each of the buildings are

By Izzy|July 2nd, 2024|Available Investments|0 Comments

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Grays Development Company, Inc #6288 | COLORADO – ($4.5M Available)

Grays Development Company, Inc #6288 | COLORADO – ($4.5M Available)

The collateral for this loan consists of 68 residential housing lots averaging a quarter acre in size, located in Monument, Colorado (approximately 20 minutes north of Colorado Springs, CO). Grays will use these lots to build ranch-style and two-story homes ranging from 3 to 6 bedrooms and 1,875 and 3,083 sq. ft. This quaint neighborhood is conveniently located near the I-25, creating a convenient commute to the Air Force Academy, Colorado Springs, and the Denver Tech Center. It borders Pike National Forest to the west as well as fishing, kayaking, and paddle boarding at Palmer Lake nearby. Other notable nearby places are Garden of The Gods, Seven Falls, Old Colorado City, Red Rock Canyon, and The Olympic Training Center and museum. Master Loan Amount: $13,940,000 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 1/8/26.

By Izzy|July 2nd, 2024|Available Investments|0 Comments

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MJZ, LLC #6267 | NEVADA – ($2M Available)

MJZ, LLC #6267 | NEVADA – ($2M Available)

The collateral for this loan is a finished residential lot in Lake Las Vegas which is a master planned community surrounding the second largest reservoir in Southern Nevada. The lot was sold by the master planned developer directly to the borrower instead of going through a custom home builder which is more typical for this type of transaction. The borrower has already consulted with a few of the top custom home builders in Las Vegas to price out potential construction jobs and ultimately chose JAG Development to build this home. The borrower has obtained building permits for a 6,031 square foot home which will include four bedrooms, five and a half baths, four car garage, a workshop, rooftop deck, and top of the line finishes. Loan Amount: $3,200,000 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 12/26/25.

By Izzy|June 28th, 2024|Available Investments|0 Comments

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Skyrim Development, LLC #6257 | UTAH – ($1.2M Available)

Skyrim Development, LLC #6257 | UTAH – ($1.2M Available)

The collateral for this loan is approximately 38 acres of land in Hurricane, UT which is approximately 140 miles northeast of Las Vegas, NV. Since acquiring the site, they have successfully worked with the city to get a preliminary plat and site plan approved. The site will ultimately consist of 15 single family detached lots, 132 attached townhome lots, 372 apartment units, and over 66,000 square feet of commercial space. The borrower will develop the entire project and sell off different sections to developers who will construct those specific aspects of the project. Two of the five “super pads” (the sections of the property designated for specific uses) have LOIs to purchase the property within 90 days of being developed. Development is anticipated to start within a week of funding the initial tranche of this loan and should be completed in approximately nine months. Master Loan Amount: $10,300,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *For investments equal to or greater than $100,000 investors will earn 10.5%. Term: Nine months with an optional nine-month extension period. The final maturity date is 12/1/25.

By Izzy|June 11th, 2024|Available Investments|0 Comments

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Rhino Holdings Grimes, LLC #6027 | NEW MEXICO – ($600K Available)

Rhino Holdings Grimes, LLC #6027 | NEW MEXICO – ($600K Available)

The collateral for this loan consists of a former K-Mart in Hobbs, NM which is approximately 300 miles southeast of New Mexico’s largest city, Albuquerque. This 88,849 square foot facility was purchased by the borrower in 2018 after the previous tenant moved out leaving the property completely vacant. Since that time the borrower has leased 87% of the project to national brands which will open for business once the tenant improvement work is completed. This loan will be used to refinance the acquisition of the property and future tranches will be used to complete the six million of work on the property. Most of the money will go into tenant specific work but some will be utilized for repair to the structure, landscaping, lighting, and to repave the parking lot. Master Loan Amount: $15,880,000 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 5/27/25.

By Izzy|November 27th, 2023|Available Investments|0 Comments

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JCM Development, LLC #5992 | MONTANA – ($350K Available)

JCM Development, LLC #5992 | MONTANA – ($350K Available)

The collateral for this loan consists of an approximately 3.94-acre parcel of land which is currently zoned B-2 giving the borrower options for many businesses uses such as manufacturing, retail, residential and multifamily. It is the intent of the borrower to construct a retail center on the site. The total size will be approximately 53,000 square feet. He is already working with four different local and regional tenants to occupy the property which he expects to be fully leased by the spring of 2024, before the project is completely built. Just to the west of the site, within the same development, the borrower is currently constructing about 70 units of multifamily fourplex’s which will be a great built-in customer base for these retailers. Master 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. Term: Nine months with an optional nine-month extension at maturity. Final maturity date is 3/19/25. * Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period.

By Izzy|September 22nd, 2023|Available Investments|0 Comments

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JCM Development, LLC #5806 | MONTANA – ($50K Available)

JCM Development, LLC #5806 | MONTANA – ($50K Available)

The collateral for this loan consists of an approximately 4.05-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 twelve building, 48-unit, residential development. Each of the twelve 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 $2,400 per unit. With an extremely strong rental demand in the area, it is anticipated all the units will be absorbed by the market shortly after completion. The fourplex configuration gives the borrower options of selling individual buildings or refinancing the whole project as an investment. Within the same complex, the borrower is currently building 24 units so this would be a continuation of that existing construction project. Master Loan Amount: $10,500,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10- day grace period.

By Izzy|May 26th, 2023|Available Investments|0 Comments

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Yuma Care 2, LLC #5645 | ARIZONA – ($150K Available)

Yuma Care 2, LLC #5645 | ARIZONA – ($150K Available)

First Trust Deed collateralized by a parcel of a commercially zoned property approximately 170 miles east of San Diego, CA and 180 miles west of Phoenix, AZ. Since putting the property under contract about six months ago, the borrower worked with the local municipalities to get the property entitled to allow the construction of a geriatric behavioral health facility. This will be the borrowers sixth such facility since 2011 with plans on doing two more each year. Once completed, the property will consist of 17,800 square feet facility with 30 beds. Additionally, Ignite was able to review the sale agreement which shows a future sales price of $15,125,000. The buyer is the same group that purchased the 16,800 square foot, 24-bed facility from the borrower in the middle of 2022. The buyer has already gone non-refundable on nearly $500,000 of earnest money. Master Loan Amount: $10,900,000 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 two optional nine-month extension at maturity. Final maturity date is 3/26/25.

By Izzy|December 21st, 2022|Available Investments|0 Comments