First Trust Deed collateralized by 18 developed residential lots located in the Talus 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 40 have already been sold since opening in late 2015. Homes in the community start selling at $237,000 and range from 1,801 to 3,024 square feet in three to six bedroom floor plans. In addition to selling 40 units in the past 10 months, prices have increased by over $10,000.
Loan Amount: $1,260,000
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.