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Funded Investments

Bluemountain, Inc., #4496 – UTAH – FUNDED

First Trust Deed collateralized by a fully developed residential lot in West Haven, Utah (approximately 40 miles north of Salt Lake City, UT). The home lot has a partially completed 2,400 square foot, five bedrooms, two-bathroom home constructed on it. It is anticipated that the borrower will be completely done with construction of the home within the next six months. Once the home is fully constructed, it will be sold to a home buyer and the loan will be paid off.

Loan Amount: $363,000

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.

Bluemountain, Inc., #4495 – UTAH – FUNDED

First Trust Deed collateralized by a fully developed residential lot in West Point, Utah (approximately 35 miles north of Salt Lake City, UT). The home lot has a partially completed 2,774 square foot, four bedrooms, two-and-a-half-bathroom home constructed on it. It is anticipated that the borrower will be completely done with construction of the home within the next six months. Once the home is fully constructed, it will be sold to a home buyer and the loan will be paid off.

Loan Amount: $284,000

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.

Court Hampton Holdings, LLC., #4493 – NEVADA – FUNDED

First Trust Deed collateralized by two developed residential lots located in the Daybreak 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 100 have already been sold since opening in late 2015. Homes in the community start selling at $253,000 and range from 1,739 to 2,275 square feet in three to five-bedroom floor plans. In addition to selling 65 units in the past 12 months, prices have increased by over $15,000.

Loan Amount: $102,600

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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    Shapeshift Investments, LLC., #4492 – WASHINGTON – FUNDED

Shapeshift Investments, LLC., #4492 – WASHINGTON – FUNDED

First Trust Deed collateralized by a 1,910 square foot home in Kirkland, WA (approximately 18 miles northeast of Seattle, WA). Comps in the area sell for more than $800,000 with homes that aren’t split level selling for even more. It is anticipated this home will sell for $837,000. The borrower is able to acquire the property for significantly under market value due to the seller’s unwillingness to do any of the repairs to the home or allow potential buyers to walk through the home before closing. It is the borrower’s intent to spend approximately $80,000 in repairs to rehab the property in order to better position the asset to demand a higher sales price. Repairs are anticipated to be completed in the first two months of the six-month loan. The remaining term of the loan will be used to procure a buyer and get the property closed. Although the borrower will not be adding any space to the home they will be finishing the unfinished 600 square foot basement as well as changing it from a 3-bedroom 3 bath home to a 4-bedroom 2.5 bath home.

Loan Amount: $665,000

Yield: 10.25% (Principal Balance ≥ $100,000); 10.00% (Principal Balance < $100,000) Interest […]

Tailor Built Homes, LLC., #4491 – UTAH – FUNDED

First Trust Deed collateralized by a fully developed .3-acre residential lot located in Millcreek, UT (approximately 9 miles southeast of downtown Salt Lake City, Utah). Of the eight lots within this infill development, this will be the third home to be built. Loan proceeds will be used for the construction of a six-bedroom, three bath home. The home will be a total of 5,249 square feet which includes an un-finished basement of 2,377 square feet.

Loan Amount: $690,000

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.

RJJR Investments, LLC., #4490 – 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. It is the borrower’s intent to acquire the site and immediately begin to market the property to an end user such as a gas station. 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 intent 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 eminent growth in the area. It is anticipated the traffic count will more than double on this stretch of highway in the next 20 years. For more information click here.

Loan Amount: $264,000

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 […]

Lake Las Vegas LLC., #4488 – NEVADA – FUNDED

First Trust Deed collateralized by 21 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 unbuilt. 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. 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 in an effort to sell units more quickly. It is anticipated that the borrower will begin construction on the first three-unit building within a week of closing this loan.

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

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    Shadow Canyon Development, LLC., #4486 – NEVADA – FUNDED

Shadow Canyon Development, LLC., #4486 – NEVADA – FUNDED

First Trust Deed collateralized by a 72.25 acres of residential land located in Henderson, Nevada. Since putting the property under contract about 11 months ago, the borrower has been working with the city to get a tentative map approval for the 122-lot community. In addition, they have a letter of intent to purchase the finished lots from a national homebuilder for over $32,000,000. Once the property is purchased, it is the borrower’s intent to finalize the mapping process wit the city and to begin grading of the project. Starting three months after acquiring the site, the borrower anticipates starting the site work to transform the raw land into finished lots. Nearly all the 122 lots will have unobstructed views of the Las Vegas strip.

Loan Amount: $3,900,000

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

Tailor Built Homes, LLC., #4485 – UTAH – FUNDED

First Trust Deed collateralized by a fully developed residential lot (0.33 acres in size) located in South Jordan, Utah (approximately 17 miles north of Downtown Salt Lake City, UT). Loan proceeds will be used for the construction of a four-bedroom, three and a half bath home. The homes will be a total of 4,821 square feet with 3,100 square feet of finished space (does not include the unfinished basement). Right now, the property is a four-unit structure that was built in 1962 consisting of 3,700 feet.

Loan Amount: $650,000

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.

Tailor Built Homes, LLC., #4484 – UTAH – FUNDED

First Trust Deed collateralized by a fully developed residential pad located in Millcreek, UT (approximately 10 miles south of downtown Salt Lake City, Utah). Loan proceeds will be used for the construction of one townhome building consisting of two townhomes. Each townhome will be approximately 1,100 square-feet, two-bedroom, two-bath homes.

Loan Amount: $900,000

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.

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