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Harmony461, LLC #4573 | NEVADA – FUNDED

First Trust Deed collateralized by 20 approximately 0.08 acre fully completed residential lots located in the Northridge community in North Las Vegas, Nevada.  This community comes on the heels of the borrower selling out of the 100-lot community kitty-corner to this one as well as the 93-lot community directly to the east of the community. Since the borrower has sold out of both the existing communities over the past few years, the borrower knows exactly what the homebuyers in the area want in the form of floor plans and price points. With that said, this 119 lot community known as Northridge will have an average sales price of $280,000 and average 2,300 square feet in size. It is anticipated the borrower will begin closing homes in the community in December of 2018. Loan Amount: $940,000 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.

Harmony Homes Nevada, LLC #4572 | NEVADA – FUNDED

First Trust Deed collateralized by 41 mostly 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 begun the development work on the site and is about 80% complete with the entire community. It is anticipated that the borrower will be completely done with the development in January at which point they will begin selling out of the model home complex. Home sales should commence in early 2019 with an average sales price of $290,000 and an average size of 1,700 square feet. Loan Amount: $1,861,000 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.

Harmony461, LLC #4571 | NEVADA – FUNDED

First Trust Deed collateralized by 14 approximately 0.08 acre partially completed residential lots located in the Northridge community in North Las Vegas, Nevada. This community comes on the heels of the borrower selling out of the 100-lot community kitty-corner to this one as well as the 93-lot community directly to the east of the community. Since the borrower has sold out of both the existing communities over the past few years, the borrower knows exactly what the homebuyers in the area want in the form of floor plans and price points. With that said, this 119lot community known as Northridge will have an average sales price of $280,000 and average 2,300 square feet in size. It is anticipated the borrower will begin closing homes in the community in December of 2018. Loan Amount: $686,000 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 Victory Ridge, LLC #4570 | COLORADO – FUNDED

The collateral for this loan consists of 74 platted townhome lots located in Colorado Springs, CO (approximately 61 miles south of Denver, CO). These 74 lots are part of a larger 221 lot community know as Victory Ridge. Townhomes will average 1,500 square feet in size with an anticipated sales price of $306,000. Lokal homes is selling the last phase of a competing community of townhomes that were 200 square feet larger with a sales price of $40,000 more than Victory Ridge. After hearing what buyers want in the area, Victory Ridge is slightly smaller and priced well below Lokal Homes’ competing community, as well as, all other competition in the area from other builders. Lokal Homes has the option to purchase the remaining lots within Victory Ridge and are slated to do so in the coming months. Directly to the north of the property (the top of the map on the next page) is a newly opened Icon Cinema in a growing “Interquest corridor”. Loan Amount: $2,460,000 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 two optional nine-month extensions at maturity.

Lokal BR7, LLC | #4569 – COLORADO – FUNDED

The collateral for this loan consists of 60 partially finished single-family residential lots located in Commerce City, CO (approximately 20 miles northeast of Denver, CO and 12 miles west of Denver International Airport). These 60 lots are part of a larger 151 lot community known as Buffalo Run Filing 7. Homes will be priced around $500,000 and will solely consist of single-story ranch style homes. Filing 7 is the last take-down within a larger community know as Buffalo Run that the borrower has already completed the development, construction, and ultimate sale of over 330 homes. The borrower has already begun construction on 35 homes within this last phase of the community. It is anticipated the borrower will completely sell out of the community within the next two and a half years. Loan Amount: $4,380,000 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: Nine months with two optional nine-month extensions at maturity.

RJJR Investments, LLC | #4568 – NEVADA – FUNDED

First Trust Deed collateralized by 1.66 acres of commercially zoned land located near the intersection of Kyle Canyon Road and US 95, about 18 miles northwest of Las Vegas, NV. Kyle Canyon Road is the main access from Las Vegas to Mt. Charleston, home of the Las Vegas Ski and Snowboard Resort. Although this area has yet to see much growth, most of the land in and around the corridor has been assembled by a few developers who intend to it to be the next growth area. Early in January of 2018, Clark County started the second phase of the 78-million-dollar project to expand the highway all the way to Kyle Canyon Road in anticipation of the imminent growth in the area. It is anticipated the traffic count will more than double on this stretch of highway in the next 20 years. Right now, it is anticipated the overpass that will allow northbound traffic to drive directly past this site is slated to open in June of 2019. Shortly after the overpass opens (one of the final pieces of the overall expansion) we anticipate the borrower will be under contract to sell the land. For more information on the construction

FIG Dublin Farms, LLC | #4567 – UTAH – FUNDED

The collateral for this loan is 9.39 acres of land that will consist of 128 townhome lots located in Eagle Mountain, UT (approximately 35 miles south of Salt Lake City, UT). All 128 units are presold as investment properties to the borrower’s clients. The 128 units have been approved by the city which will be accepting a cash performance bond in the amount of about $2,400,000 in early 2019. Money will be held in escrow until the city accepts the cash bond and work begins. Once work begins, it is anticipated that the development will be completed by the end of August 2019. This loan will have pay-downs once the development work is completed but before the construction work begins. Loan Amount: $4,600,000 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 an optional nine-month extension at maturity.

BM RE, LLC #4566 | UTAH – FUNDED

First Trust Deed collateralized by a fully developed home in Holladay, Utah (approximately 11 miles south of Salt Lake City, UT). Since acquiring the property, the borrower has begun the demo process which included a roof replacement that needed to be re-engineered. The plumbing is still in progress but is scheduled to be completed in the next 120 days at which point they will sell the home. The home is a five-bedroom, four bath home covering 1,458 square feet and was built in 1959. Loan Amount: $458,000 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.

BM RE, LLC #4565 | UTAH – FUNDED

First Trust Deed collateralized by a fully developed home in Ogden, Utah (approximately 35 miles north of Salt Lake City, UT). Since acquiring the property, the borrower has let the tenant remain in the home until the borrower was ready to begin rehab work. The borrower will be ready to start work in 30 days and is scheduled to be completed in the next 90 days at which point they will sell the home. The home is a three-bedroom, two bath home covering 1,168 square feet and was built in 1872. Loan Amount: $122,000 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.

BM RE, LLC #4564 | UTAH – FUNDED

First Trust Deed collateralized by a fully developed home in Magna, Utah (approximately 15 miles west of downtown Salt Lake City, UT). Since acquiring the property, the borrower has let the tenant remain in the home until the borrower was ready to begin rehab work. The borrower is now in the process of removing the tenant and has the rehab work scheduled to be completed in the next 80 days at which point they will sell the home. The home is a two-bedroom, one bath home covering 1,178 square feet and was built in 1918. Loan Amount: $150,000 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.

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