First Trust Deed collateralized by approximately 7.23 acres of partially improved residential land. This parcel of land represents the next phase of the Daybreak community, located approximately 8 miles east of Las Vegas, Nevada. The property currently has a tentative map in place to allow for the development of 59 lots roughly .12 acre in size. As it currently stands, the lots are graded but not all of the underground work has been completed, nor any of the finishing work (curbs, gutters and streets). Development will commence in early 2016 and is anticipated to be completed by August, 2016. Harmony Homes has almost sold out of the first phase of the community which the have been selling since 2010.
Loan Amount: $1,170,000
Yield:(principal value > $100,000): 11.25%
Yield:(principal value < $100,000): 11.00%
Term: 6 Months with one optional 6 month extension period at maturity.
These investment are on a first come, first serve basis.