First Trust Deed collateralized by approximately 5.41 acres of partially improved residential land. This parcel of land represents the next phase of the Sunrise Highlands community, located approximately 9 miles east of Las Vegas, Nevada. The property currently has a map in place to allow for the development of 40 lots of which this loan will be encumbering 14 lots in release section 3, 4 & part of 5; specifically lots 12-21 & 24-26. The development is anticipated to be completed by the summer of 2016 with the Grand Opening occurring this month. The property was acquired for $920,000 and has a project development budget fo r$2.2 million. Harmony Homes has sold out of the first phase of the community which they have been selling since 2010.
Loan Amount: $954,800
Yield:(principal value > $100,000): 10.00%
Yield:(principal value < $100,000): 10.25%
Term: Six Months with an optional six month extension at maturity.
These investment are on a first come, first serve basis.