First Trust Deed collateralized by six partially developed single family residential lots in Enterprise, NV (approximately seven miles south of Las Vegas, NV). The lots are part of a larger 36 lot community which was approved by the city and recorded on April 3, 2015. This loan encumbers six lots which make up the last of six total phases in the community. Development has already begun and is approximately 70% completed with an anticipated finish date in June of 2015 at which time they will begin to sell homes within the community. Homes in the community average over 2,200 square feet and will be sold for an anticipated average sales price of $280,000.
Loan Amount: $318,000
Yield:(principal value > $100,000): 11.25%
Yield:(principal value < $100,000): 11.00%
Term: Six Months with one optional six month extension period at maturity.
These investment are on a first come, first serve basis.