Available Investments

Home/Available Investments

Tailor Built Homes, LLC., #4536 – UTAH

First Trust Deed collateralized by a soon to be fully developed residential lot (0.19 acres in size) located in Holladay, UT (approximately 17 miles southeast of downtown Salt Lake City, Utah). Loan proceeds will be used for the construction of a three-bedroom, two and a half bath home. The home will be a total of 4,065 square feet with 2,690 square feet of finished space (does not include the partially unfinished basement). The borrower is acquiring all three of the partially finished lots at the end of the street. Money to complete the development will be held at the title company out of the sellers proceeds to complete the development work. The borrower will start all three homes shortly after the development is completed. Loan Amount: $575,000 Yield: 10.25% (Principal Balance ≥ $100,000); 10.00% (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.

Lokal Plum Creek Towns, #4532 – COLORADO

The collateral for this loan consists of 25 residential townhome lots located in Castle Rock, CO (approximately 32 miles south of Denver, CO). These 25 lots are nearly complete and will be in time for the vertical construction to start in about two months. The townhomes that are being built have an average sales price of $355,000. These townhomes compete within the community with Richmond American Homes who is currently selling single family homes that average over $480,000 but are almost completely sold out. All townhome lots in the community are owned by the borrower of which over 10 of the 15 lots are presold. It is anticipated the borrower will be sold out of the community by the end of 2020. Loan Amount: $1,705,000 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: 9 months with two optional 9-month extensions at maturity

Caldwell Investments, #4528 – UTAH

First Trust Deed collateralized by four fully constructed multifamily, residential structures in Ogden, Utah (approximately 39 miles north of Downtown Salt Lake City, UT). Upon acquisition of this four building, 28-unit property, the borrower will begin re-positioning the asset by increasing the rents via tenant turnover and upgrades to three of the units, common areas, and replacing of the roof. The buildings are currently 75% leased and consists of 4 studio units, 17 one-bedroom units, and 7 two+ bedroom units. It is anticipated that the buildings will be ready to go to the borrower’s long-term financing line of credit within the next 90 days. The payoff of this loan is anticipated to be before the six-month duration of the loan. Loan Amount: $1,950,000 Yield: 10.25% (Principal Balance ≥ $100,000); 10.00% (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 a six-month extension.

GGD Oakdale, LLC., #4512 – WASHINGTON

First Trust Deed collateralized by an approximately 93,000 square foot retail building in Sunnyside, WA (about 180 miles southeast of Seattle, WA and 180 miles northeast of Portland, OR). Current tenants in this converted Kmart building include national brands such as Aaron's as well as local companies such as China Buffet, Crosssfit, WesternWear, and La Estrella (a furniture store). The property is currently operating at about a 50% vacancy. It is the borrower’s intent to lease up the remaining space to two separate companies, Grocery Outlet and Tractor Supply. Both companies are currently working with the borrower to finalize a lease which would make the center fully occupied. Prior to the new tenants occupying the space, the borrower will need to spend approximately $1,000,000 is upgrades to improve the property. Loan Amount: $6,575,000 Yield: 10.25% (Principal Balance ≥ $100,000); 10.00% (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: Nine months with two optional six month extension periods at maturity.

loading