First Trust Deed collateralized by roughly 5.07 acres of land zoned R-2 located within the Mountain’s Edge Master Plan Community in Southwest Las Vegas, Nevada. The Mountain’s Edge Master Planned Community includes 12,500 residential lots covering more than 3,500 acres. The borrower has been working with the city for over a year in order to get the zoning changed from C-2 zoning into R-2 zoning which has recently been approved. The current R-2 zoning allows for two homes per acre. In addition to the zoning change, the borrower has received a tentative map approval which will allow for the development of 24 single family residential lots.
Loan Amount: $1,235,000
Yield:(principal value > $100,000): 9.25%
Yield:(principal value < $100,000): 9.00%
Term: 24 Months with one optional 12 month extension period at maturity.
These investment are on a first come, first serve basis.