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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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Court Hampton Holdings, LLC., #4544 – NEVADA – FUNDED

First Trust Deed collateralized by 11 mostly developed residential lots located in the Highlands community which is located ten miles east of Las Vegas, NV. Harmony Homes have sold out of the community directly to the west which they have been selling since 2010. The newly closed subdivision to the west had over 300 lots which were sold with an average sales price of $275,000 over the past year. This new community known as the Highlands consists of 94 lots which are roughly the same size as the previous community. The borrower intends to build the exact same homes that have sold in the previous community that range from 1,739 – 2,573 square feet and will start with an average sales price of $280,000. 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: 6 months with one optional 6-month extension period at maturity.

By |August 6th, 2018|Blog, Funded Investments|0 Comments
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Piola Construction, LLC., #4543 – WASHINGTON – FUNDED

First Trust Deed collateralized by a 1,040 square foot home in North Seattle, WA (approximately 10 miles north of downtown Seattle, WA). The home is currently two bedroom and one bath, but it has a full unfinished basement and attached garage. The borrower plans on completing the basement and converting the garage into the master suite. The new finished square footage after all is done will be over 2,000 square feet and will be three bedrooms and two and three quarters bathrooms. This is the fifth loan Ignite is originating with the borrower, all of which have sold above the anticipated sales price. Loan Amount: $710,000 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.

By |July 4th, 2018|Blog, Funded Investments|0 Comments
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Harmony Homes Nevada, LLC., #4542 – NEVADA – FUNDED

First Trust Deed collateralized by 10 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 80% complete. It is anticipated that the borrower will be completely done with the development in July at which point they will begin 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: $454,000 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 |July 3rd, 2018|Blog, Funded Investments|0 Comments
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Epic Mountains Edge, LLC., #4540 – NEVADA – FUNDED

First Trust Deed collateralized by approximately 38.75 acres of raw land located in Las Vegas, Nevada (approximately 12 miles southwest of the Las Vegas Strip).  These 38.75 acres of land were recently put up for sale under two auctions by the Bureau of Land Management and were awarded to our borrower, Epic Mountains Edge. Since being awarded the property in February of this year, the borrower has been working with the city to obtain approval for a residential subdivision. As of June 5, 2018 the borrower has passed the first hurdle of getting the proposed 249 lot residential development approved. Over the next several months, the borrower anticipates getting final approval and beginning to market the paper lots for sale to home builders. This area of Las Vegas is home to all major homebuilders, with this specific area as the fastest growing near Mountains Edge. Loan Amount: $5,500,000 Yield: 10.75% (Principal Balance ≥ $100,000); 10.50% (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 |July 2nd, 2018|Blog, Funded Investments|0 Comments
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Elation Homes, LLC., #4539 – NEVADA – FUNDED

First Trust Deed collateralized by 29 approximately half acre, fully-developed residential lots located in the Valley Heights community in Moapa Valley, Nevada (approximately 58 miles northeast of Las Vegas, NV and 73 miles southwest of St. George, UT). The subdivision includes over 30 homes that are either finished or under contract to be built in the next 30 days. The borrower sold 43 lots within this same community to DR Horton in May for $35,000 per lot and this loan is for under $21,000 per lot. DR Horton is under contract to purchase the remaining lots in the first quarter of 2019. Loan Amount: $600,000 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 |July 1st, 2018|Blog, Funded Investments|0 Comments
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Harmony Homes Nevada, LLC., #4538 – NEVADA – FUNDED

First Trust Deed collateralized by 17 acres of residentially zoned land near the corner of Vegas Dr and Rancho Dr near North Las Vegas, NV (roughly five miles northwest of downtown Las Vegas). The land is currently zoned R-2 which will allow for the development of 34 homes on the site, but the borrower is working with the city to approve a 248-lot community. The borrower won’t close on the property until final approve is set for the proposed 248 lot community as depicted on the next page. Development work will commence soon after the acquisition and it is anticipated the model homes will be open for sale at the end of 2019. Home sales should average $210,000 and be about 1,500 square feet in size. The sales time frame for this community is expected to stretch into 2022. Loan Amount: $2,106,000 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 |June 27th, 2018|Blog, Funded Investments|0 Comments
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Caldwell Investments #4537 – 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 repositioning 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: $1,800,000 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.

By |June 27th, 2018|Blog, Funded Investments|0 Comments
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Tailor Built Homes, LLC., #4536 – UTAH – FUNDED

First Trust Deed collateralized by a soon to be fully developed residential lot (0.19 acres in size) located in Holladay, UT (approximately 17 miles southeast of downtown Salt Lake City, Utah). Loan proceeds will be used for the construction of a three-bedroom, two and a half bath home. The home will be a total of 4,065 square feet with 2,690 square feet of finished space (does not include the partially unfinished basement). The borrower is acquiring all three of the partially finished lots at the end of the street. Money to complete the development will be held at the title company out of the sellers proceeds to complete the development work. The borrower will start all three homes shortly after the development is completed. Loan Amount: $575,000 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.

By |June 12th, 2018|Blog, Funded Investments|0 Comments
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Tailor Built Homes, LLC., #4535 – UTAH – FUNDED

First Trust Deed collateralized by a soon to be fully developed residential lot (0.21 acres in size) located in Holladay, UT (approximately 17 miles southeast of downtown Salt Lake City, Utah). Loan proceeds will be used for the construction of a three-bedroom, two and a half bath home. The home will be a total of 4,140 square feet with 2,400 square feet of finished space (does not include the partially unfinished basement). The borrower is acquiring all three of the partially finished lots at the end of the street. Money to complete the development will be held at the title company out of the sellers proceeds to complete the development work. The borrower will start all three homes shortly after the development is completed. Loan Amount: $525,000 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.

By |June 12th, 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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