carrie cook Archives - Ignite Funding

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Harmony Homes Nevada, LLC #6405 | NEVADA – FUNDED

Harmony Homes Nevada, LLC #6405 | NEVADA – FUNDED

First Trust Deed collateralized by 4.88 acres of land near the corner of Boulder Highway and Sunset Rd in Henderson, NV (roughly 13 miles southeast of downtown Las Vegas). The land was zoned for Community Mixed Use and since the borrower has gotten a final map approved to allow for the development of a 72-unit triplex condo community and is currently developing the land. As a leader in the entry level residential real estate market in Las Vegas, Harmony homes has acquired this parcel with the idea of increasing density to reduce the price point. In today’s changing real estate market, it is prudent of owners to find creative ways to reduce the price of the finished product. Harmony has done that with increasing the density. The average sales price is anticipated to be 30% less than the average sales price of a home in the area. Master Loan Amount: $4,400,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *For investments equal to or greater than $100,000 investors will earn 10.5%. Term: Nine months with an optional nine-month extension at maturity. Final maturity date is 4/14/26.

By Izzy|October 10th, 2024|Funded Investments|0 Comments

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CC Building VI, LLC #6346 | NEVADA – FUNDED

CC Building VI, LLC #6346 | NEVADA – FUNDED

First Trust Deed collateralized by a 1.54-acre parcel of land approximately 16 miles southwest of downtown Las Vegas, NV. This property was developed in 2010 by Stable Development as part of an 8-building corporate center and now is owned in full by the borrower as a stand-alone office building. The borrower has already sold off multiple of the original eight buildings at approximately $304/sf. This property is currently 100% leased and recently renewed the lease of its anchor tenant, The Wealth Consulting Group, through 2034. Additionally, the borrower has agreed to assign rents to Ignite should that be deemed necessary. The borrower plans to hold this asset long-term and is seeking financing from Ignite until more attractive long-term debt options are available, which may occur in late 2025. Loan Amount: $4,400,000 Yield: 11% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *For investments equal to or greater than $100,000 investors will earn 11.5%. Term: Nine months with an optional nine-month extension at maturity. Final maturity date is 4/7/26.

By Izzy|October 10th, 2024|Funded Investments|0 Comments

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Prez Enterprises, Inc. #6393 | TEXAS – ($700K Available)

Prez Enterprises, Inc. #6393 | TEXAS – ($700K Available)

First Trust Deed collateralized by a 19 .05-acre parcels of land approximately 12 miles north of downtown Houston, TX. The borrower is purchasing all 19 parcels in the form of finished lots and intends to construct finished spec homes on each lot. Vertical construction is anticipated to begin mid Q4 of 2024 with completion expected to occur sometime in mid-2025. These homes will all be 3 bed 2.5 bath models with 9 homes being 1571 sf and the other 10 homes being 1556 sf. The borrower expects to have these homes pre-sold before construction is complete and will begin marketing them once construction begins. Master Loan Amount: $5,363,000 Yield: Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *For investments equal to or greater than $100,000 investors will earn 10.5%. Term: Nine months with an optional nine-month extension at maturity. Final maturity date is 3/25/26.

By Izzy|October 8th, 2024|Available Investments|0 Comments

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Green Level West II, LLC #6386 | NORTH CAROLINA – FUNDED

Green Level West II, LLC #6386 | NORTH CAROLINA – FUNDED

The collateral for this loan is an approximately 10-acre site that will be entitled to allow for the construction of a 74-unit apartment building. This acquisition sits contiguous to two separate properties the borrower has under contract which will total over 40 acres. Since the purchase of this land happened before it was fully entitled, the borrower used Ignite to acquire the property while finalizing the entitlements. Entitlements on all 40 acres have now been officially approved by the city, allowing a mixed use district including residential spaces, commercial spaces, and some offices as well. On the other side of the property construction has begun on over 1 million square feet of medical space that is owned by Duke Health. The city has already expressed a desire to make this corridor the new “heart” of the city which bodes well for the long-term viability of the project and the short term needs to get the property entitled. Loan Amount: $4,250,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *For investments equal to or greater than $100,000 investors will earn 10.5%. Term: Nine months with an optional

By Izzy|October 5th, 2024|Funded Investments|0 Comments

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RJJR Investments Two, LLC #6372 | NEVADA – ($600K Available)

RJJR Investments Two, LLC #6372 | NEVADA – ($600K Available)

First Trust Deed collateralized by a 7.5-acres of raw land approximately 12 miles southwest of downtown Las Vegas, NV. This property is located adjacent to S Jones Rd which is anticipated to be widened from 4 to 6 lanes with construction beginning around November. This will increase overall traffic to the area as the city of Las Vegas continues to expand. Additionally, the surrounding land in the subject property’s area is either owned by the airport or private individuals. The airport land is designated as open land that will not be sold off in the foreseeable future and the privately owned land in the section is further away from sewer lines than the subject property and therefore is more costly to develop. These facts all bode well for the borrower, who plans to subdivide this land into 12 paper lots which he will then sell to investors. Master Loan Amount: $2,730,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *For investments equal to or greater than $100,000 investors will earn 10.5%. Term: Nine months with an optional nine-month extension at maturity. Final maturity date is 3/16/26.

By Izzy|September 24th, 2024|Available Investments|0 Comments

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Alpine Village, LLC #6315 | NEVADA – FUNDED

Alpine Village, LLC #6315 | NEVADA – FUNDED

A 1.46 acre parcel of land, situated near the mouth of Kyle Canyon in Las Vegas, NV is the collateral for this first trust deed loan. This part of Las Vegas has seen more residential building permits pulled over the past year than nearly all other submarkets. As the old adage goes; “commercial follows rooftops.” This property is a prime example of that. The borrower intends to get zoning approval for the ultimate construction of a fuel station which will be nearly surrounded by newly constructed homes. The borrower also has the property presold and is under contract with a nationally recognized fuel operator who will ultimately construct and occupy the building. The completion of the zoning process which will be the triggering event to sell the project and is anticipated to be completed within nine months. Loan Amount: $1,450,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *For investments equal to or greater than $100,000 investors will earn 10.5%. Term: Nine months with an optional nine-month extension at maturity. Final maturity date is 3/8/26.

By Izzy|September 4th, 2024|Funded Investments|0 Comments

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Sequoia – Dorrell Unicorn, LLC #6300 – FUNDED

Sequoia – Dorrell Unicorn, LLC #6300 – FUNDED

The collateral for this loan is a 1.05-acre piece of land located near the corner of Bradley Rd and Dorrell Ln. Since acquiring the land in January of 2023, the borrower worked with the city to allow a subdivision map to be recorded splitting the asset into four quarter acre lots, just like what was done across the street. The borrower also worked with the city to get building permits issued to build homes on the site. Each of the four lots will have one of the two homes depicted above built on them (or the mirror images of those homes). The homes will average nearly 2,700 square feet each and have four bedrooms, three bathrooms with an attached three car garage. The borrower has built the same floor plans nearby so he has a great deal of confidence in what they will cost, and more importantly, what home buyers in the area will want. Master Loan Amount: $2,100,000 Yield: 10% interest Schedule: 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. The final maturity date is 3/4/2026. *For

By Izzy|September 4th, 2024|Funded Investments|0 Comments

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Lokal Communities, LLC #6349 | COLORADO – SOLD OUT

Lokal Communities, LLC #6349 | COLORADO – SOLD OUT

First Trust Deed collateralized by 28 finished residential lots. Located between downtown Denver and the tech center in a prime urban location, these are the remaining lots within an active community. These attached units are three stories tall and range from 1,238 to 2,157 square feet. They all have attached two car garages with up to four bedrooms. Prices range from the high 500’s to the high 700’s. The last takedown is anticipated to happen in April of 2025. Master Loan Amount: $3,612,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *For investments equal to or greater than $100,000 investors will earn 10.5%. Term: Nine months with no extension available upon maturity. Final maturity date is 6/8/25.

By Izzy|September 4th, 2024|Blog|0 Comments

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Keystone Ridge Investments, LLC #6269 – SOLD OUT

Keystone Ridge Investments, LLC #6269 – SOLD OUT

The collateral for this loan is 8 residential lots in Slaton, TX which is approximately 14 miles east of downtown Lubbock, TX. Since acquiring the site, the borrower has successfully worked with the city to subdivide the site into 58 residential lots. The collateral for this loan consists of eight of these lots. Upon the original loan funding, the borrower began building homes on each of the lots that are three bedrooms and two bathrooms each. Each unit is roughly 1,300 sq. ft in size with a two-car attached garage sitting on 1.38 acres of land. The borrower is building 15 units in this community and anticipates building and holding onto each of the units as rentals. Loan Amount: $1,400,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *For investments equal to or greater than $100,000 investors will earn 10.5%. Term: Nine months with an optional nine-month extension period. The final maturity date is 12/2/25.

By Izzy|August 22nd, 2024|Funded Investments|0 Comments

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Rhino Holdings Marysville I, LLC #6328 | WASHINGTON – ($1.9M Available)

Rhino Holdings Marysville I, LLC #6328 | WASHINGTON – ($1.9M Available)

The collateral for this First Trust Deed loan consists of four parcels in the Marysville Town Center in the heart of Marysville, WA. Marysville is a vibrant, growing city on the banks of the Snohomish River known for its spectacular views of the Olympic and Cascade mountains. Washington has the 14th fastest growing economy in the US and Marysville is approximately 35 miles north of Washington’s largest city, Seattle. These four parcels cover 431,600 sf (10.6 acres) of land and are home to many large brands such as JC Pennys, Petco, Burlington’s, Verizon, and more. The borrower plans to acquire this facility and bring in new tenants to the available pads at higher rental rates allowing an overall NOI increase of nearly 30% for the Town Center. This loan will be used to finance the acquisition of the property while the borrower looks for buyers for each of the four parcels once stabilization is reached. Master Loan Amount: $24,391,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *For investments equal to or greater than $100,000 investors will earn 10.5%. Term: Nine months with an optional extension

By Izzy|August 6th, 2024|Available Investments|0 Comments