Available Investments

Home/Available Investments

Fragola Enterprises, LLC #4629 | UTAH

The collateral for this loan is over 350 acres of land located near the shores of Strawberry Reservoir (approximately 84 miles southeast of Salt Lake City, UT). Since acquiring the site over a decade ago, the borrower began working with the city and county to approve the conversion of an active cattle ranch into a master planned resort community. This loan encumbers part of the first phase of the larger resort and has up to 300 homes allocated to this land. Money from this loan will be used to fund a development bond with the city in the amount of roughly $4,000,000 which will enable the first 84 lots to be fully developed. Although the borrower has just begun sales of the “paper lots”, it is anticipated the lots will be completely developed in the summer of 2020 utilizing the money that will be held by the county. Loan Amount: $9,100,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (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 nine-month extensions at maturity.

Harmony Homes Nevada, LLC #4628 | NEVADA – FILLED

First Trust Deed collateralized by 37 finished residential lots 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 community is well located near shops and amenities for potential homeowners. Since acquiring the site in September of 2017, the borrower has successfully worked with the city to get approval for the 81-lot community. In addition, the borrower has finished all the onsite and offsite improvements. Additionally, the borrower has sold and closed half of the 81 total lots in the community for an average sales price of nearly $260,000 for each of the 1,700 square foot units. Loan Amount: $1,670,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (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. Click here to view the onsite video.

Phoenix Tucson Retail Partners One, LLC #4626 | ARIZONA

First Trust Deed collateralized by a nearly 90,000 square foot shopping center in Tucson, AZ (about 120 miles south of Phoenix, AZ). The site is anchored by PETCO and has nine other tenants but has a total vacancy of 50%. The three freestanding single-story buildings are situated on over 10 acres of land that includes 450 parking spaces. Due to the current owner’s unwillingness and inability to spend additional money on tenant improvements, the property has seen the occupancy suffer over the past three years. As part of this loan, the borrower will receive over $1,000,000 for tenant improvements which will enhance the value of the project by reducing the vacancy of the property. The current listing broker has a few tenants that are looking to occupy the building. In addition to money for tenant improvements, there is about $1,000,000 that will be utilized to fix deferred maintenance and general capital expenditures to improve the overall site. Loan Amount: $4,700,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (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 nine-month extension periods

Harmony Homes Nevada, LLC | NEVADA – #4625 – FILLED

First Trust Deed collateralized by 11.03 gross acres (10.19 net acres) of residentially zoned land near the corner of Boulder Hwy and Lake Mead Pkwy in Henderson, NV (approximately 16 miles southeast of downtown Las Vegas). The borrower is purchasing the property from the masterplan developer once the site plan has been approved (anticipated on 12/12/19). The site plan allows for 142 townhome lots in four, six, and eight-plex configurations to be built. The development work is expected to begin in the spring on 2020 with an estimated cost of $5,800,000. With an average sales price of $247,000 per unit, the borrower will be one of the lowest priced builders in the area. Home construction is anticipated to begin in September of 2020. Loan Amount: $2,800,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (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.

loading