Funded Investments Archives

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Meisner Construction, LLC #5402 | MONTANA – FUNDED

Meisner Construction, LLC #5402 | MONTANA – FUNDED

The collateral for this loan is a 1.26 acre lot in Bigfork, MT (approximately 100 miles north of Missoula, MT). Known as lot 6 of the Sterling Estates, this lot is one of the best remaining lots in the community. Although the borrower will work with the city to get a 1,924 square foot home approved for the site, the borrower intends to sell the lot prior to construction. The home will consist of three bedrooms and two and half bathrooms. Additionally, there will be a two-car garage and over 600 square feet of covered patio areas. Loan Amount: $139,000 Yield: 10% interest Schedule: Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *For investments equal to or greater than $100,000 investors will earn 10.5%. Term: Nine months Final maturity date is 2/8/23.

By Izzy|May 11th, 2022|Funded Investments|0 Comments

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Yuma Care, LLC #5394 | ARIZONA – FUNDED

Yuma Care, LLC #5394 | ARIZONA – FUNDED

First Trust Deed collateralized by a parcel of a commercially zoned property approximately 170 miles east of San Diego, CA and 180 miles west of Phoenix, AZ. Since the borrower acquired the site in October of 2020, they have worked with the local municipalities to get the property entitled to allow the construction of a geriatric behavioral health facility. This will be the borrowers fifth such facility since 2011 with plans on doing two more each year. Once completed, the property will consist of 16,800 square feet facility with 24 beds. Additionally, Ignite Funding was able to review the appraisal that shows a completed value of the asset at $11,907,000 and a stabilized value of $14,886,000. The pictures on the next page were taken on 3/20/22 to give you a sense of the current progress. Loan Amount: $500,000 Yield: 10% 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 two optional nine-month extension at maturity. Final maturity date is 7/11/23

By Izzy|April 28th, 2022|Funded Investments|0 Comments

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Gold Rose Group, LLC #5382-5389 | NEVADA – FUNDED

Gold Rose Group, LLC #5382-5389 | NEVADA – FUNDED

First Trust Deed collateralized by 5.03 acres of residentially zoned land in the Northwest part of Las Vegas, NV. The currently undeveloped land is surrounded by properties zoned as rural estates as well as some parcels of slightly higher density. It is the intent of the borrower to get a tentative map (shown on the following page) approved with the city and begin developing the land into two separate four half acre lot communities. Once the land development is completed, the borrower intends to build single family homes on the lots which should average 5,000 square feet each and start at a selling price of $2,100,000. The tentative map is anticipated to become a final map in three months since this is what is considered a conforming zone change. Master Loan Amount: $3,180,000 Yield: 10% 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. Final maturity date is 10/16/23.

By Izzy|April 14th, 2022|Funded Investments|0 Comments

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Gold Rose Group, LLC #5377-5380 | NEVADA – FUNDED

Gold Rose Group, LLC #5377-5380 | NEVADA – FUNDED

First Trust Deed collateralized by 2.01 acres of residentially zoned land in the Northwest part of Las Vegas, NV. The currently undeveloped land is surrounded by properties zoned as rural estates as well as some parcels of slightly higher density. It is the intent of the borrower to get a tentative map (shown on the following page) approved with the city and begin developing the land into four half acre lots. Once the land development is completed, the borrower intends to build single family homes on the lots which should average 5,000 square feet each and start at a selling price of $2,100,000. The tentative map is anticipated to become a final map in three months since this is what is considered a conforming zone change. Master Loan Amount: $1,520,000 Yield: 10% 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. Final maturity date is 10/16/23.

By Izzy|April 14th, 2022|Funded Investments|0 Comments

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Copper Cart, LLC #5374 | NEVADA – FUNDED

Copper Cart, LLC #5374 | NEVADA – FUNDED

The collateral for this loan is a 1.12-acre piece of land located near the corner of Centennial Parkway and Durango Drive. Building permits will be issued shortly for the borrower to start the construction of an 8,555 two tenant retail center. Both suites are preleased with the larger of the two suites leased to Born & Raised “BAR” which is a sports-focus bar catered towards locals. The other suite is preleased to “Firefly Tapas Kitchen & Bar” which has been around since 2003 and a quickly become a locals’ favorite. This is the second building within the center the borrower has constructed and is very similar to multiple other locations they have done over the past few years. Current leases will have the property producing over $380,000 in annual net revenue when completed. Loan Amount: $2,000,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *For investments equal to or greater than $100,000 investors will earn 10.5% Term: Nine months with an optional nine-month extension at maturity. Final maturity date is 10/20/23

By Izzy|April 4th, 2022|Funded Investments|0 Comments

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Goodyear 49, LLC #5367 | ARIZONA – FUNDED

Goodyear 49, LLC #5367 | ARIZONA – FUNDED

The collateral for this loan is a 4.6 net acre site in Goodyear, AZ. The project will consist of 47 attached residential townhome units. All units will have three bedrooms and two and a half bathrooms ranging from 1,690-1,801 square feet. The modern looking townhomes will be constructed as a “build-to-rent” townhome project. The finished project will operate like an apartment complex but will be built with individual townhome units allowing the buyer of the property the flexibility to sell off individual units when they see fit. Metro Phoenix is home to about 5 million people where net migration continues to fuel its growth. Over the past two decades, Phoenix has grown by nearly 100,000 people every year. Phoenix’s relatively young population with the age cohort 25-34 containing the largest percentage of residents (about 15%) are ideal purchasers/renters for the entry level townhomes. The buyer has been approached by multiple equity firms to purchase the finished product when each of the buildings are completed. Master Loan Amount: $18,312,000 Yield: 10% interest Schedule: 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 two optional nine-month extension

By Izzy|March 15th, 2022|Funded Investments|0 Comments

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Midway Heritage Development, LLC #5363 | UTAH – FUNDED

Midway Heritage Development, LLC #5363 | UTAH – FUNDED

First Trust Deed collateralized by roughly .86 acres of land that currently operates as a tire shop. This is the last acquisition of a larger 25-acre project which will eventually be developed into 143 townhome and cottage sized lots as well as a few commercial pads. This is the next phase of the successful Whitaker Farms project the borrower completed a year ago. Although the final map has not been approved, part of the whole project (not the collateral for this loan) is already zoned to allow higher density townhomes. Over the next six months, the borrower will continue to work with the city to get a masterplan approved for the entire site that will eventually turn into a phased development. The lots that will be developed on this plot of land will be some of the last lots to be sold. With that said, we expect the loan to go the full duration of the loan term without partial paydowns. Loan Amount: $2,400,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *For investments equal to or greater than $100,000 investors will earn 10.5%. Term: Nine

By Izzy|March 2nd, 2022|Funded Investments|0 Comments

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Future Legends, LLC #5355 | COLORADO – FUNDED

Future Legends, LLC #5355 | COLORADO – FUNDED

First Trust Deed collateralized by roughly 100 acres of land which will eventually be developed into a youth sports facility, surrounding a professional baseball stadium. The overall complex will combine all elements needed for a successful youth sports faculty including restaurants, fields, hotels, retail, dormitories, and other amenities. Located about two miles east of downtown Windsor (60 miles north of Denver, CO). After purchasing the Orem Owlz minor league baseball team in 2004, the borrower envisioned developing a youth sports complex integrated into a minor league baseball facility. This vision is being manifested into the Future Legends Complex which will consist of 12 soccer fields, 10 baseball diamonds, a 64-team dorm, with retail shops and hotels surrounding the complex. This loan will encumber everything owned by the borrower in the area excluding the stadium and retail area which already has bank financing in place or in process. The 100 collateralized acres will continue to be developed by the borrower using the financing from this loan and additional money from the borrower. Master Loan Amount: $11,000,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: Nine months

By Izzy|February 14th, 2022|Funded Investments|0 Comments

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Midway Heritage Development, LLC #5352 | UTAH – FUNDED

Midway Heritage Development, LLC #5352 | UTAH – FUNDED

First Trust Deed collateralized by roughly 24.9 acres of farmland which will eventually be developed into 143 townhome and cottage sized lots as well as a few commercial pads. This is the next phase of the successful Whitaker Farms project the borrower completed a year ago. Although the tentative map has not been approved, part of the site is already zoned to allow higher density townhomes. Over the next six months, the borrower will continue to work with the city to get a masterplan approved for the entire site that will eventually turn into a phased development. The future fundings of this loan will go towards the approval of the final map of the project. Of the 148 approved paper lots this loan is for, there is money allocated for the development of the first 59 buildable lots. Of the first 59 buildable lots, money is allocated for the construction of the first 12 townhome units. In total, this loan will have 84 paper lots, 47 finished lots, and 12 finished townhomes. As of today, it is not anticipated for the development work to begin until July of 2022. Additionally, the borrower already has over 30 reservations for the townhomes

By Izzy|January 26th, 2022|Funded Investments|0 Comments

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Jump Acres, LLC #5343 | MONTANA – FUNDED

Jump Acres, LLC #5343 | MONTANA – FUNDED

The collateral for this loan consists of an approximately 2-acre parcel of land which is currently zoned B-2 giving the borrower options for many business uses such as manufacturing, residential and multifamily. It is the intent of the borrower to get final approval for an eight building, 32-unit, residential development. Each of the eight buildings would be fourplexes to allow for a multitude of takeout financing options. Half of the units would be two bed, two bath units with rental rates averaging $1,500 per unit. The other half of the units would be three beds, two bath units with rental rates averaging $1,850 per unit. With an extremely strong rental demand in the area, it is anticipated all the units would be absorbed by the market within one month of completion. The fourplex configuration gives the borrower options of selling individual buildings or refinancing the whole project as an investment. Master Loan Amount: $6,100,000 Yield: 10% 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. Final maturity date is 7/19/23.

By Izzy|January 26th, 2022|Funded Investments|0 Comments