First Trust Deed collateralized by 64 partially completed residential lots and 36 finished lots. Located on the Northeast corner of West Centennial Parkway and North Commerce Street in North Las Vegas, Nevada. During the term of the loan the borrower will finish the development of the partially and fully developed lots and begin selling homes in the community. These lots represent the second phase of the planned development. Phase one of this community has been completed and is fully occupied with multi-duplex units averaging 2,000 square feet in size. This loan represents the second phase of the community.
Loan Amount: $4,950,000
Yield:(principal value > $100,000): 11.25%
Yield:(principal value < $100,000): 11.00%
Term: 12 Months with one optional 12 month extension at maturity.
These investment are on a first come, first serve basis.