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Tailor Built Homes , LLC #4370 – UTAH – FUNDED

First Trust Deed collateralized by a fully developed .24 acre residential lot located in Sandy, UT (approximately 17 miles south of downtown Salt Lake City, Utah). Loan proceeds will be used for the construction of a four bedroom, two and a half bath home. The home will be a total of 3,575 square feet with 1,755 square feet of finished space (does not include the partially unfinished basement).

Loan Amount: $450,000

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.

Tailor Built Homes , LLC #4369 – UTAH – FUNDED

First Trust Deed collateralized by a fully developed .24 acre residential lot located in Sandy, UT (approximately 17 miles south of downtown Salt Lake City, Utah). Loan proceeds will be used for the construction of a four bedroom, two and a half bath home. The home will be a total of 3,575 square feet with 1,755 square feet of finished space (does not include the partially unfinished basement).

Loan Amount: $450,000

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.

Mosaic Seven, LLC LOAN #4368 – NEVADA – FUNDED

The property consists of 2.5 acres of unentitled land located in Southwest Las Vegas close to Mountains Edge, award-winning Master Planned Community. Since putting the property under contract over a year ago the borrower has been working with the city to get approval for a final map allowing for the development of single family, detached, residential homes. In addition to the subject property, the borrower also owns most of the properties surrounding this one which has allowed the borrower to simultaneously entitle all the land, and ultimately, an ability to develop more units per acre than would otherwise be feasible.

Loan Amount: $820,000

Yield: 10.50% (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 with an optional six month extension at maturity.

Elation Homes , LLC #4367 – NEVADA – FUNDED

First Trust Deed collateralized by 72 approximately 0.46 to 0.65 acre fully-developed residential lots located in Valley Heights community in Moapa Valley, Nevada (approximately 58 miles northeast of Las Vegas, NV and 73 miles southwest of St. George, UT). The subdivision includes over 20 homes that are either completely finished or under contract to be built in the next 30 days. It is anticipated that the borrower will be selling homes at a rate of seven units per year.

Loan Amount: $1,400,000

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: 12 months with one optional six month extension period at maturity.

KD Carey , LLC #4366 – NEVADA – FUNDED

First Trust Deed collateralized by five fully developed residential lots located on the Northeast corner of East Carey Avenue and North Lamb Boulevard in North Las Vegas (approximately five miles northeast of Downtown Las Vegas, NV). These five lots are within a larger 88 lot community that will consist of homes averaging 1,600 square feet and have three bedrooms with two baths.

Loan Amount: $816,000

Yield: 10.75% (Principal Balance ≥ $100,000); 10.50% (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: 12 months with one optional 6 month extension period at maturity.

Court Hampton Holdings, LLC #4365 – NEVADA – FUNDED

First Trust Deed collateralized by 13 developed residential lots located in the Daybreak community which is located nine miles east of Las Vegas, NV. The property currently has a tentative map in place to allow for the development of 41 lots roughly .12 acre in size of which this loan will encumber 13 of them. As it currently stands, the lots are graded but not all of the underground work has been completed, nor any of the finishing work (curbs, gutters, and streets). The final map is anticipated to be recorded at the end of January and development will be finalized in March of 2017. Harmony Homes has almost sold out of the first phase of the community which they have been selling since 2010.

Loan Amount: $666,900

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 #4364 – NEVADA – FUNDED

First Trust Deed collateralized by 12 developed residential lots located in the Talus community which is located nine miles east of Las Vegas, NV. Harmony Homes have sold out of the first phase of the community which they have been selling since 2010. The second phase consists of 123 lots of which over 45 have already been sold since opening in late 2015. Homes in the community start selling at $237,000 and range from 1,801 to 3,024 square feet in three to six bedroom floor plans. In addition to selling 40 units in the past 10 months, prices have increased by over $12,000.

Loan Amount: $840,000

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 #4363 – NEVADA – FUNDED

First Trust Deed collateralized by approximately 2.5 acres of residential land located near the Vista Cielo subdivision in North Las Vegas, Nevada. Vista Cielo is a 100 lot community owned and built by Harmony Homes. This residential land, along with another piece of land just to the south of this one will be developed into one of the last phases of the community. The main entrance to the subdivision is located across the street from the entrance to Shadow Creek Golf Course, with Mojave High School just west of the lot.

Loan Amount: $260,000

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: Six months with one optional six month extension period at maturity.

Lokal BR7, LLC #4362 – Colorado – FUNDED

The collateral for this loan consists of 48 mapped and partially developed single-family residential lots located in Monument, CO (approximately 20 miles northeast of Denver, CO and 12 miles west of Denver International Airport). These 48 lots are the first take down of a larger 151 lot community know as Buffalo Run Filing 7. Homes will be priced around $430,000 and will solely consist of single story ranch style homes. Filing 7 is the last takedown within a larger community know as Buffalo Run that the borrower has already completed the development, construction, and ultimate sale of over 300 homes.

Loan Amount: $3,250,000

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: 12 months with an optional 12 month extension at maturity.

Shapeshift Investments, LLC #4361 – WASHINGTON – FUNDED

First Trust Deed collateralized by a 3,010 square foot home in Shoreline, WA (approximately 13 miles north of Seattle, WA). Comps in the area sell for an average of $800,000 with homes directly across the street selling for more than $1,000,000. The borrower is able to acquire the property for significantly under market value do to the seller needing to sell the home quickly. With that said, it is the borrower intents to spend approximately $40,000 in repairs to rehab the property in order to better position the asset to demand a higher sales price. Repairs are anticipated to take two months of the six month loan. The other four months of the loan term will be used to procure a buyer and get the property closed. Although the borrower will not be adding any space to the home or changing the bedroom count (4 beds, 2.5 baths), most of the money will be used to renovate the kitchen, baths, master bedroom, and flooring throughout the property.

Loan Amount: $587,000

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: […]

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