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Harmony461, LLC. – #4559 – NEVADA – FUNDED

First Trust Deed collateralized by 19 approximately 0.08 acre mapped 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 the fourth quarter of 2018. Loan Amount: $931,000 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.

By |October 1st, 2018|Blog, Funded Investments|0 Comments
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Lake Las Vegas 24, LLC., #4557 – NEVADA – FUNDED

First Trust Deed collateralized by three finished townhome lots located in the Vita Bella Community in Lake Las Vegas which is approximately 19 miles east of Las Vegas, Nevada. Within this 79-unit community, there are 24 remaining lots that are unsold. Since acquiring the property in December of 2017, the borrower has been working with the city to get the building plans reapproved based on the new building codes. Existing homes in the community have sold between about $270,000 and $465,000 in 2017 and 2018. New homes are expected to sell for an average of $409,000 per unit. Although it is typical to see a premium sales price on new homes, it is the borrower’s goal to “undercut” the market to sell units more quickly. Construction on this three-unit building began in April of 2018. Loan Amount: $780,000 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: 9 months with one optional nine-month extension period at maturity.

By |September 12th, 2018|Blog, Funded Investments|0 Comments
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Harmony Homes Nevada, LLC. #4556 – NEVADA – FUNDED

First Trust Deed collateralized by 4.79 net acres of residentially zoned land near the corner of Tropicana Ave and Boulder Hwy in Las Vegas, NV (approximately 10 miles from downtown Las Vegas). Since putting the property under contract in January of 2018, the borrower has successfully obtained approval of a tentative map allowing for the development of a 43-lot subdivision. The lots are roughly 0.6 acres in size which conform to the zoning of surrounding communities. It is anticipated that the borrower will begin development work during the fourth quarter of 2018, complete development in the spring of 2019, and begin selling homes in the summer of 2019. Homes are anticipated to sell between $180,000 and $230,000. Loan Amount: $650,000 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.

By |September 10th, 2018|Blog, Funded Investments|0 Comments
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Harmony Homes Nevada, LLC. #4555 – 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 90% complete. It is anticipated that the borrower will be completely done with the development in October and have already begun construction of the model complex. Home sales should commence in late 2018 with an average sales price of $290,000 and an average size of 1,700 square feet. Loan Amount: $471,000 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.

By |September 4th, 2018|Blog, Funded Investments|0 Comments
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Caldwell Investments #4553 – UTAH – FUNDED

First Trust Deed collateralized two recently renovated single family, residential structures in Ogden, Utah (approximately 39 miles north of Downtown Salt Lake City, UT). Since acquiring the property about 12 months ago, the borrower has renovated each of the two units and increased rents by 10%. Now that the units are fully renovated and leased, the borrower is working to move the property over to their long-term credit facility. The payoff of this loan is anticipated to be before the nine-month duration of the loan. Loan Amount: $526,000 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 a nine-month extension.

By |August 24th, 2018|Blog, Funded Investments|0 Comments
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Caldwell Investments #4552 – UTAH – FUNDED

First Trust Deed collateralized by a recently renovated 6-plex multifamily, residential structure in Ogden, Utah (approximately 39 miles north of Downtown Salt Lake City, UT). Since acquiring the property about 12 months ago, the borrower has renovated the building and increased rents by 20%. Now that the units are fully leased, the borrower is working to move the property over to their long-term credit facility. The payoff of this loan is anticipated to be before the nine-month duration of the loan. Loan Amount: $472,500 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 a nine-month extension.

By |August 24th, 2018|Blog, Funded Investments|0 Comments
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Bluemountain I, LLC., #4550 – UTAH – FUNDED

First Trust Deed collateralized by a fully developed four-plex apartment complex in Tooele, Utah (approximately 34 miles southwest of Salt Lake City, UT). None of the four units in the apartment complex have been updated by the borrower at this time although it is expected to commence when the last lease expires in November of this year. Once the tenants have moved out, the borrower will compete renovations and release the site. It is anticipated to take three months for renovations and releasing at which point they expect to have increased rents from a total of $3,600 monthly to $4,400 monthly. Once the rehab is completed, it is the borrower’s intent to sell the building to an investor who will keep it as a cash flowing asset. Loan Amount: $299,000 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.

By |August 6th, 2018|Blog, Funded Investments|0 Comments
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BlueM Utah, LLC., #4549 – UTAH – FUNDED

First Trust Deed collateralized by a fully developed duplex in Salt Lake City, Utah (approximately 2 miles southeast of downtown Salt Lake City, UT). Both units are now vacant since the owner acquired the property and are about 80% completed with the demo in anticipation of beginning the rehab next month. The final renovations are expected to be completed in 60 days at which point the borrower will lease the property. The borrower has not yet determined if he will be selling this building or keeping it for his long-term holding portfolio. Loan Amount: $375,000 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.

By |August 6th, 2018|Blog, Funded Investments|0 Comments
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BlueM Holdings, LLC., #4548 – UTAH – FUNDED

First Trust Deed collateralized by a fully developed four-plex apartment complex in Emery, Utah (approximately 170 miles south of Salt Lake City, UT). Two of the four units in the apartment complex have already been updated by the borrower while the other two will be renovated once the tenants move out at the end of July. The updated units have been renting for a $200 premium which will bring the total monthly cash flow to $1,900 per month. Once the rehab is completed on the last two units, it is the borrower’s intent to sell the building to an investor who will keep it as a cash flowing asset. Loan Amount: $170,000 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.

By |August 6th, 2018|Blog, Funded Investments|0 Comments
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Harmony Homes Nevada, LLC., #4547 – NEVADA – FUNDED

First Trust Deed collateralized by 139 finished and partially finished residential lots located near the Southeast corner of North Pecos Road and East Lake Mead Boulevard in North Las Vegas, NV. The lots are part of a larger 222 lot community known as Brookfield that the borrower acquired about a year ago. Since acquiring the site, the borrower has sold 83 since the model home opened in December of 2017. Homes average about $200,000 and range from 1,106 square feet to 1,597 square feet. At the current sales velocity, the borrower expects to be completely sold out of the community in about a year. Loan Amount: $4,485,000 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: 9 months with one optional 9-month extension period at maturity.

By |August 6th, 2018|Blog, Funded Investments|0 Comments
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Ignite Funding, LLC | 2140 E Pebble Road, Suite 160, Las Vegas, NV 89123 | P 702.739.9053 | T 877.739.9094 | F 702.922.6700 | NVMBL #311 | AZ CMB-0932150 | AZ CMBBR-0121055 | Money invested through a mortgage broker is not guaranteed to earn any interest and is not insured. Prior to investing, investors must be provided applicable disclosure documents.
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