First Trust Deed collateralized by three developed residential lots located in Longmont, Colorado (approximately 40 miles north of Denver, CO). The subject property represents the last three un-owned lots in phase one of the Yeager Farms Community. The first phase of the community consists of 87 lots, of which over 75% are already built and sold. The borrower also owns all of the second phase of the community which will be developed into 32 residential lots which Phase two is currently about 80% developed with an anticipated completion date of mid-May, 2015.
Loan Amount: $220,000
Yield:(principal value > $100,000): 11.25%
Yield:(principal value < $100,000): 11.00%
Term: Six Months with an optional six month extension period at maturity.
These investment are on a first come, first serve basis.