First Trust Deed collateralized by four finished lots in Park City, UT. All the grading work for the site has been completed and is ready for the foundation to be poured. Construction permits have already been submitted for each of the nearly 5,000 square foot homes (including partially finished basements). Situated in the Silver Creek Village community that the borrower is currently building in, they have a great understanding of the type of home the market is looking for. Three of the homes are presold and the fourth home won’t be listed for sale until it is approximately 30% complete. Homes in the community average over $1,000,000 each.
Master Loan Amount: $3,400,000
Yield: Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *For investments equal to or greater than $100,000 investors will earn 10.5%.
Term: Nine months with an optional nine-month extension at maturity. Final maturity date is 7/31/25.