Investor Equity Homes, LLC #4574 – NEVADA – FUNDED

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Investor Equity Homes, LLC #4574 – NEVADA – FUNDED

First Trust Deed collateralized by a 1.93-acre parcel of land that was zoned R-E which allowed for two units per acre. Since acquiring the site in August of 2018, the borrower has successfully up-zoned the property to RH which will allow up to 18 units per acre. The borrower currently owns the 2.5 acres to the south and the 2.5 acres to the west that he is working with the city to obtain a tentative map. A tentative map, once approved, would allow for the construction of nearly 100 residential units over all three parcels of land. The borrower was once one of the largest land owners in this area of town but has sold most of his land holdings to various national homebuilders.

Loan Amount: $765,000

Yield: 10.25% (Principal Balance ≥ $100,000); 10.00% (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: Nine months with an optional nine-month extension at maturity.

 

By |December 5th, 2018|Funded Investments|0 Comments
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