First Trust Deed collateralized by eight fully developed lots located in Paradise, Nevada (approximately seven miles east of Las Vegas, NV). The community consists of 18 total lots, 10 of which have already been sold to end home buyers. Home prices in the community have sold at an average of $360,000. The lots are located just west of the 515 freeway and east of UNLV and the McCarran airport.
Loan Amount: $653,000
Yield: 10.25% (Principal Balance ≥ $100,000); 10% (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 an optional six month extension at maturity.