The five lots encumbered by this loan represent five of the seven total lots the borrower has developed within the community. The two lots that are not encumbered by this loan are in the process of having homes built. It is the intent of the borrower to build through, or directly sell the remaining five lots within the next year. Homes will start at $500,000 each. LF The Cove, LLC is a special purpose entity set up by Legacy Fields, a home builder and developer in and around Salt Lake City, Utah.
Yield:(principal value > $100,000): 10.25%
Yield:(principal value < $100,000): 10.00%
Term:Six Months with an optional six month extension at maturity.
These investment are on a first come, first serve basis.
Contact an Investment Agent for additional details.