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Available Investments

GGD Oakdale , LLC., #4438 – WASHINGTON

First Trust Deed collateralized by an approximately 67,200 square foot retail building situated on 3.07 acres of land in Tacoma, WA (about 38 miles south of downtown Seattle, WA). The property was built in 1986 and includes 16,480 square feet of tennis courts. Although the property has been vacant for quite some time, the borrower is acquiring the site with two tenants ready to move in and fully occupy the building. The tennis courts and approximately 10,000 square feet of the main building will be leased to the United States Tennis Association /Pacific Northwest. The term of the lease starts on 12/1/17 when they will begin paying $14,000 in monthly rent for a total of 15 years. The second lease with Fitness Evolution (an affiliated company of the borrower) will begin paying rent on 12/1/17 with monthly rent payments of $22,000. In the unlikely event of default there is an assignment of rents encumbering the property that will cover the $33,505 in monthly interest payments.

Loan Amount: $3,350,000

Yield: 10.5% (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 […]

Harmony Homes Nevada, LLC., #4436 – NEVADA

First Trust Deed collateralized by 9.06 acres of residential land located near the Northwest corner of North Commerce Street and West Gowan Road in North Las Vegas, NV (roughly six miles north of Las Vegas, NV). The land is well located near shops and amenities for potential homeowners. The site is currently zoned for a planned use development (PUD) which will allow for the development of an 81-home subdivision. The borrower does not anticipate the start of the development work until the middle of 2018 with the first homes sales happening by the end of 2018. Home prices are anticipated to be in the upper 200’s once sales ultimately commence.

Loan Amount: $975,000

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: 6 months with one optional 6 month extension period at maturity.

Court Hampton Holdings, LLC., #4435 – NEVADA

First Trust Deed collateralized by 19.67 acres of residential land located adjacent to the Talus and Daybreak communities which are located nine miles east of Las Vegas, NV. Harmony Homes have sold out of the first two phases of the communities which represents over 300 home sales. Homes in the community start selling at $249,000 and range from 1,739 to 3,024 square feet in three to six-bedroom floor plans. The 19.67-acre acquisition has a current tentative map in place for the development of 94 residential lots. It is the borrower’s intent to begin construction on this project immediately upon acquisition and it is expected to take nine months to develop all 94 lots. Ignite Funding plans on funding the development of this project over seven individual development loans during the nine-month development time frame.

Loan Amount: $2,491,000

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: 6 months with one optional 6 month extension period at maturity.

Lokal Hyland Village, #4433- COLORADO

The collateral for this loan consists of 30 finished townhome lots located in Castle Rock, CO (approximately 13 miles northwest of Denver, CO). These 30 lots represent 30 of the remaining 53 townhome lots that remain within the community. The borrower has the option to purchase the remaining 23 lots at the beginning of 2018. With an average sales price of $390,000, the borrower anticipates starting construction on homes within the first month after acquisition and a total build out schedule of less than 24 months. Within the community other home builders are currently selling single family homes that average nearly $500,000.

Loan Amount: $1,698,200

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.

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