Funded Investments

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Lake Las Vegas 24, LLC #4558 | NEVADA – FUNDED

First Trust Deed collateralized by three 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 unsold (at the time of acquisition by the borrower in December of 2017). Since acquiring the property, the borrower worked 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 and 2018. New homes are expected to sell for an average of $430,000 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 to sell units more quickly. Construction on this six-unit building began in July of 2018. Loan Amount: $1,560,000 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 nine-month extension period at maturity.

Lake Las Vegas 24, LLC #4557 | NEVADA – FUNDED

First Trust Deed collateralized by three 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 unsold. 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 and 2018. 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 to sell units more quickly. Construction on this three-unit building began in April of 2018. 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: 9 months with one optional nine-month extension period at maturity.

Harmony Homes Nevada, LLC. #4556 – NEVADA – FUNDED

First Trust Deed collateralized by 4.79 net acres of residentially zoned land near the corner of Tropicana Ave and Boulder Hwy in Las Vegas, NV (approximately 10 miles from downtown Las Vegas). Since putting the property under contract in January of 2018, the borrower has successfully obtained approval of a tentative map allowing for the development of a 43-lot subdivision. The lots are roughly 0.6 acres in size which conform to the zoning of surrounding communities. It is anticipated that the borrower will begin development work during the fourth quarter of 2018, complete development in the spring of 2019, and begin selling homes in the summer of 2019. Homes are anticipated to sell between $180,000 and $230,000. Loan Amount: $650,000 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.

Harmony Homes Nevada, LLC #4555 | NEVADA – FUNDED

First Trust Deed collateralized by 41 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 90% complete. It is anticipated that the borrower will be completely done with the development in October and have already begun 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: $471,000 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.

Blue Heron Highlands Show Home, LLC #4554 | NEVADA – FUNDED

First Trust Deed collateralized by a fully developed 1.3-acre lot in the MacDonald Highlands Community which is approximately 19 miles south of downtown Las Vegas, Nevada. The MacDonald Highlands Community is nestled in the picturesque McCullough Mountains which has become one of the most sought after addresses in the Las Vegas Valley. Finished lots on this street are currently selling for more that $2,000,000 for just the lot. Although no homes have sold on this 51-lot street yet, some homes are anticipated to be sold for more than 10 million. This loan is to refinance the acquisition of the lot and build a roughly 13,000 square foot home. Now that the building permit have been fully approved by the HOA as well as the city, the borrower has already begun construction on the home as the foundation of the home is completed. As is typical for Blue Heron, they build one “showcase home” to showoff all of the newest and most innovative architecture in design and technology. When they do this, they typically will pay off the loan with their own investor capital once the home is completed and ready to tour. Loan Amount: $3,900,000 Yield: 10.25% (Principal Balance ≥

Caldwell Investments #4553 | UTAH – FUNDED

First Trust Deed collateralized two recently renovated single family, residential structures in Ogden, Utah (approximately 39 miles north of Downtown Salt Lake City, UT). Since acquiring the property about 12 months ago, the borrower has renovated each of the two units and increased rents by 10%. Now that the units are fully renovated and leased, the borrower is working to move the property over to their long-term credit facility. The payoff of this loan is anticipated to be before the nine-month duration of the loan. Loan Amount: $526,000 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: Nine months with a nine-month extension.

Caldwell Investments #4552 | UTAH – FUNDED

First Trust Deed collateralized by a recently renovated 6-plex multifamily, residential structure in Ogden, Utah (approximately 39 miles north of Downtown Salt Lake City, UT). Since acquiring the property about 12 months ago, the borrower has renovated the building and increased rents by 20%. Now that the units are fully leased, the borrower is working to move the property over to their long-term credit facility. The payoff of this loan is anticipated to be before the nine-month duration of the loan. Loan Amount: $472,500 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: Nine months with a nine-month extension.

Dragon Ridge Development, LLC #4551 | NEVADA – FUNDED

First Trust Deed collateralized by a fully developed 1.1-acre lot in the MacDonald Highlands Community which is approximately 19 miles south of downtown Las Vegas, Nevada.  The MacDonald Highlands Community is nestled in the picturesque McCullough Mountains which has become one of the most sought after addresses in the Las Vegas Valley. Finished lots on this street are currently selling for more that $2,000,000 for just the lot. Although no homes have sold on this 51-lot street yet, some homes are anticipated to be sold for more than 10 million. This loan is to acquire the lot and build a roughly 8,000 square foot home. Now that building permits have been fully approved by the HOA as well as the city, the borrower is able to begin construction immediately. It is anticipated the home will be completed and sold within the duration of this loan. Loan Amount: $3,500,000 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 nine-month extension period at maturity. Loan Amount: $3,500,000

Bluemountain I, LLC #4550 | UTAH – FUNDED

First Trust Deed collateralized by a fully developed four-plex apartment complex in Tooele, Utah (approximately 34 miles southwest of Salt Lake City, UT). None of the four units in the apartment complex have been updated by the borrower at this time although it is expected to commence when the last lease expires in November of this year. Once the tenants have moved out, the borrower will compete renovations and release the site. It is anticipated to take three months for renovations and releasing at which point they expect to have increased rents from a total of $3,600 monthly to $4,400 monthly. Once the rehab is completed, it is the borrower’s intent to sell the building to an investor who will keep it as a cash flowing asset. Loan Amount: $299,000 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.

BlueM Utah, LLC #4549 | UTAH – FUNDED

First Trust Deed collateralized by a fully developed duplex in Salt Lake City, Utah (approximately 2 miles southeast of downtown Salt Lake City, UT). Both units are now vacant since the owner acquired the property and are about 80% completed with the demo in anticipation of beginning the rehab next month. The final renovations are expected to be completed in 60 days at which point the borrower will lease the property. The borrower has not yet determined if he will be selling this building or keeping it for his long-term holding portfolio. Loan Amount: $375,000 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.

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