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Funded Investments

Caldwell Investments – #4513 – UTAH – FUNDED

First Trust Deed collateralized by three fully constructed multifamily, residential structures in Ogden, Utah (approximately 39 miles north of Downtown Salt Lake City, UT). Upon acquisition of this three building, 28-unit property, the borrower will begin re-positioning the asset by increasing the rents via tenant turnover and minor repairs. The buildings are currently 71% leased and consists of 3 studio units, 21 one-bedroom units, and 4 two-bedroom units. It is anticipated that the buildings will be ready to go to the borrower’s long-term financing line of credit within the next 30 days. The payoff of this loan is anticipated to be before the six-month duration of the loan.

Loan Amount: $800,000

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.

Touchstone Lone Mountain, LLC., #4511 – NEVADA – FUNDED

First Trust Deed collateralized by twelve mostly developed residential lots located in the north west part of Las Vegas (17 miles north west of downtown). Since acquiring the property about a year ago, the borrower has successfully worked with the city to allow the development of 12 residential lots. Once the plat map was approved, the borrower began actual development work a few months ago to get the land developed into finished lots. It is anticipated that the development will be completed in two months at which point the borrower will begin constructing homes on the finished lots.

Loan Amount: $1,200,000

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.

Court Hampton Holdings, LLC., #4507 – NEVADA – FUNDED

First Trust Deed collateralized by 41 partially developed residential lots located in the Highlands community which is located nine miles east of Las Vegas, NV. Since first opening in 2010, Harmony Homes have completely sold out of the two communities that adjoin the Highlands which consisted of over 300 homes. The Highlands, which is the last community in the cluster, consists of 94 lots with homes ranging from 1,739 to 2,275 square feet with an average anticipated selling price of about $300,000.

Loan Amount: $1,963,000

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.

Caldwell Investments #4506 – UTAH – FUNDED

First Trust Deed collateralized by two fully constructed multifamily, residential structures in Ogden, Utah (approximately 43 miles north of Downtown Salt Lake City, UT). Upon acquisition of this two building, 39-unit property, the borrower will begin re-positioning the asset by increasing the rents via tenant turnover and minor repairs. The building is currently 95% leased and consists of 21 one-bedroom units, 6 two-bedroom units, and 12 three-bedroom units. It is anticipated that the building will be ready to go to the borrower’s long-term financing line of credit within the next 30 days. The payoff of this loan is anticipated to be before the six-month duration of the loan.

Loan Amount: $2,640,000

Yield: 11.25% (Principal Balance ≥ $100,000); 11.00% (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.

Caldwell Investments #4504 – UTAH – FUNDED

First Trust Deed collateralized by a fully constructed multifamily, residential structure in Salt Lake City, Utah (approximately two miles south of Downtown Salt Lake City, UT). Upon acquisition of this eight-unit property, the borrower will begin re-positioning the asset by increasing the rents via tenant turnover and a mid-level repair. All eight of the units are one bedroom each and will require about $6,000 per unit in repairs. This property is mostly vacant, and it will be rented through the Salt Lake City Housing Program on master leases for their transitional housing program. In about six months once the rehab work is completed and the new tenants are found, the property will be held as another asset in their long-term portfolio or possibly sold.

Loan Amount: $503,000

Yield: 12.25% (Principal Balance ≥ $100,000); 12.00% (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.

Caldwell Investments #4503 – UTAH – FUNDED

First Trust Deed collateralized by a fully constructed multifamily, residential structure in Ogden, Utah (approximately 38 miles north of Downtown Salt Lake City, UT). Upon acquisition of this 10-unit property, the borrower will begin re positioning the asset by increasing the rents via tenant turnover and a mid-level repair. Nine of the ten units are two bedrooms each and will require about $7,500 per unit in repairs to increase rents. All tenants are currently on month-to-month leases or have already negotiated an early termination agreement. It is anticipated that the tenant turnover will be completed within the next 30 days. Once the rehab work is completed and the new tenants are found (paying higher rents), the property will be held as another asset in their long-term portfolio.

Loan Amount: $705,000

Yield: 12.25% (Principal Balance ≥ $100,000); 12.00% (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.

Caldwell Investments #4502 – UTAH – FUNDED

First Trust Deed collateralized by a fully constructed multifamily, residential structure in Ogden, Utah (approximately 39 miles north of Downtown Salt Lake City, UT). Upon acquisition of this 21-unit property, the borrower will begin re-positioning the asset by increasing the rents via tenant turnover and a mid-level repair. All 21 units are one bedroom each and will require about $5,000 per unit in repairs to increase rents. All tenants are currently on month-to-month leases. It is anticipated that the tenant turnover will be completed within the next 45 days. Once the rehab work is completed and the new tenants are found (paying higher rents), the property will be held as another asset in their long-term portfolio.

Loan Amount: $1,335,000

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.

Brock E. Metzka #4501 – NEVADA – FUNDED

First Trust Deed collateralized by 2.5 acres of residential land in Las Vegas, NV. The borrower plans to subdivide the site into two residential lots and ultimately build homes on each of the two lots. This loan will only encumber the western half of the 2.5-acre parcel as shown on the proposed parcel map on the second page. Right now, on the western lot there is a 60% completed home that is 4,600 square feet (pictured to the right). It is anticipated that the borrower will be completed with the home within four months at which point they will look to sell it.

Loan Amount: $515,000

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: Nine months with an optional nine-month extension at maturity

Tailor Built Homes, LLC., #4500 – UTAH – FUNDED

First Trust Deed collateralized by a fully developed residential lot (0.33 acres in size) located in South Jordan, UT (approximately 17 miles south of downtown Salt Lake City, Utah). Loan proceeds will be used for the construction of a 3,885 square foot, four-bedroom, three bath home.

Loan Amount: $550,000

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., #4499 – UTAH – FUNDED

First Trust Deed collateralized by a fully developed residential lot (0.33 acres in size) located in South Jordan, UT (approximately 17 miles south of downtown Salt Lake City, Utah). Loan proceeds will be used for the construction of a four-bedroom, three and a half bath home. The home will be a total of 5,289 square feet with 4,147 square feet of finished space (does not include the partially unfinished basement).

Loan Amount: $625,000

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.

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