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Funded Investments

BlueMountain II, #4443 – UTAH – FUNDED

First Trust Deed collateralized by a fully constructed single-family residential home in Ogden, Utah (approximately 38 miles north of Downtown Salt Lake City, UT). The home has recently been acquired by the borrower with the intent of fixing it up and either selling it or holding onto it as a rental unit. After acquiring the property, the borrower has begun work to rehab the home in order to better position this approximately 2,455 square foot 5 bedroom, 3 bathroom home for sale or rent.

Loan Amount: $150,000

Yield: 10.00% (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.

BlueMountain II, #4442 – UTAH – FUNDED

First Trust Deed collateralized by a fully constructed single-family residential home in Salt Lake City, Utah (approximately 2 miles north west of Downtown Salt Lake City, UT). The home has recently been acquired by the borrower with the intent of fixing it up and either selling it or holding onto it as a rental unit. After acquiring the property, the borrower has begun work to rehab the home in order to better position this approximately 1,635 square foot 3 bedroom, 2.5 bathroom home for sale or rent.

Loan Amount: $177,000

Yield: 10.00% (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.

Lokal BR7 LLC, #4440 – COLORADO – FUNDED

The collateral for this loan consists of 11 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 11 lots are part 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. The 11 lots collateralized by this loan currently have bank financing on each of them which is the reason this loan is in second position. All the 11 lots are presold to end users with each of the end users having nonrefundable deposits down for the purchase of the homes once they are completed. It is anticipated that the borrower will have the homes built, closed, and the loan paid off prior to the end of the year.

Loan Amount: $858,000

Yield: 12% 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 […]

GGD Oakdale , LLC., #4438 – WASHINGTON – FUNDED

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 […]

Court Hampton Holdings, LLC., #4437 – NEVADA – FUNDED

First Trust Deed collateralized by four 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 60 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 45 units in the past 10 months, prices have increased by over $12,000.

Loan Amount: $248,400

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., #4436 – NEVADA – FUNDED

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 – FUNDED

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.

Bluemountain, Inc., #4434 – UTAH – FUNDED

First Trust Deed collateralized by two fully developed residential lots in West Haven, Utah (approximately 40 miles north of Salt Lake City, UT). Although the borrower is utilizing money for the acquisition and construction for two lots within the community, it is the borrower’s intent to buy the remaining 12 available lots within the next year. Even though the borrower does not currently own the property, they already have approval to pull permits with the city to begin construction on the finished lots. Each lot will have a 2,400 square foot, five bedroom, two bathroom home constructed on it.

Loan Amount: $726,000

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: Eight months with an eight month extension.

Caldwell Investments, LLC., #4432 – UTAH – FUNDED

First Trust Deed collateralized by three structures in Ogden, UT (approximately 38 miles north of downtown Salt Lake City, Utah). Although there are only two parcel numbers associated with the site and three structures, there is a total of seven apartment units as well as one single family home. It is the borrower’s intent to acquire the properties and spend about $100,000 on renovations to the structures in order to get higher rents. Once new tenants are in place, the borrower intends to sell the one single family detached home and refinance the remaining seven multifamily units.

Loan Amount: $1,250,000

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. Borrower Use of Proceeds: Proceeds will be used towards the acquisition of the properties, including closing costs, fees, rehab dollars, and prepaid interest.

Village Walk 2213, LLC., #4430 – NEVADA – FUNDED

First Trust Deed collateralized by a complete three bedroom, one and a half bath condo in The District of Green Valley Ranch. This condo is one of 88 within “The District” which is a mixed-use project adjacent to the Green Valley Ranch Casino with many residential amenities. Since acquiring the property over two years ago, the borrower has used this unit (along with another unit in the development) as a hotel alternative for their out of state employees. Since the corporate headquarters are located within “The District”, the borrower has many out of town employees coming through town. The loan will be paid off at the end of the term from normal company cashflows..

Loan Amount: $173,000

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.

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