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developed land

Midway Heritage Development, LLC #5352 | UTAH – FUNDED

First Trust Deed collateralized by roughly 24.9 acres of farmland which will eventually be developed into 143 townhome and cottage sized lots as well as a few commercial pads. This is the next phase of the successful Whitaker Farms project the borrower completed a year ago. Although the tentative map has not been approved, part of the site is already zoned to allow higher density townhomes. Over the next six months, the borrower will continue to work with the city to get a masterplan approved for the entire site that will eventually turn into a phased development. The future fundings of this loan will go towards the approval of the final map of the project. Of the 148 approved paper lots this loan is for, there is money allocated for the development of the first 59 buildable lots. Of the first 59 buildable lots, money is allocated for the construction of the first 12 townhome units. In total, this loan will have 84 paper lots, 47 finished lots, and 12 finished townhomes. As of today, it is not anticipated for the development work to begin until July of 2022. Additionally, the borrower already has over 30 reservations for the townhomes

By |January 26th, 2022|Funded Investments|0 Comments
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Jump Acres, LLC #5343 | MONTANA – FUNDED

The collateral for this loan consists of an approximately 2-acre parcel of land which is currently zoned B-2 giving the borrower options for many business uses such as manufacturing, residential and multifamily. It is the intent of the borrower to get final approval for an eight building, 32-unit, residential development. Each of the eight buildings would be fourplexes to allow for a multitude of takeout financing options. Half of the units would be two bed, two bath units with rental rates averaging $1,500 per unit. The other half of the units would be three beds, two bath units with rental rates averaging $1,850 per unit. With an extremely strong rental demand in the area, it is anticipated all the units would be absorbed by the market within one month of completion. The fourplex configuration gives the borrower options of selling individual buildings or refinancing the whole project as an investment. Master Loan Amount: $6,100,000 Yield: 10% 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. Final maturity date is 7/19/23.

By |January 26th, 2022|Funded Investments|0 Comments
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FIG Torrey Ranch, LLC #5339 | UTAH – FUNDED

The collateral for this first position trust deed is 15 acres of a 25-acre master planned community that will be known as Modera Village. This is the borrower’s second of three purchases from the seller that will ultimately house Modera Village, a 700 plus unit “stacked townhome” community. The community will have 23 four story, 28 and 42 plex buildings with dog parks, playgrounds, a basketball court, club houses, and pools. Loan Amount: $4,000,000 Yield: 12% 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 12.5%. Term: Nine months with an optional nine month extension at maturity. Final maturity date is 7/23/23.  

By |January 21st, 2022|Funded Investments|0 Comments
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Rhino Holdings Sallisaw, LLC #5338 | OKLAHOMA – FUNDED

The collateral for this loan is 10-acre parcel with a 105,000 square foot shopping center. Located in Sallisaw, OK, about 100 miles southeast of Tulsa, OK, the property is home to Tractor Supply and a few small local retailers. Currently 52% vacant, the borrower is acquiring the property with the intent to create value by leasing up the vacant space and fixing some deferred maintenance issues. With two tenants currently in lease negotiations with the borrower, the property would be over 90% leased once the tenants sign new agreements. Loan Amount: $4,600,000 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 two optional nine-month extensions at maturity. Final maturity date is 4/15/24.

By |January 21st, 2022|Funded Investments|0 Comments
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Dragonhawk Holdings, LLC #5330-5337 | NEVADA – FUNDED

First Trust Deed collateralized by eight residential lots in MacDonald Highlands Master Planned Community. These lots are part of the Dragon Rock community within MacDonald Highlands which was developed by the borrower. All of the lots have a purchase option with Blue Heron, one of the top custom home builders in Las Vegas, NV. Once Blue Heron finds a buyer for the lot, it will be purchased directly from our borrower and then Blue Heron will build the customer a home on the purchased lot. These lots have been selling for an average price of nearly $700,000 over the past six months. Master Loan Amount: $2,900,000 Yield: 10% 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. Final maturity date is 7/11/23.

By |January 18th, 2022|Funded Investments|0 Comments
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Hurry It Up We Are Burning Daylight, LLC #5316 | NEVADA – FUNDED

The collateral for this loan is 1.88 acres of land located in Sandy Valley, NV which is about 34 miles southeast of the M Resort (the south point of the Las Vegas Strip). Since acquiring the property in June of 2020, the borrower has worked with the city to allow for the construction of a 10,500 square foot building. The property is 100% preleased to Family Dollar which is a wholly owned subsidiary of Dollar Tree and has been in operations for over 60 years and currently has over 15,000 stores and 250,000 employees. This is one of 600 planned new stores this year for Dollar Tree. Construction is already in full swing and is expected to be completed in four months. Once the property is constructed and the tenant has occupied the property, the borrower will pay this loan off via a refinance. Loan Amount: $1,796,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (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 extensions at maturity.

By |January 5th, 2022|Funded Investments|0 Comments
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Dragonhawk Holdings, LLC #5319-5325 | NEVADA – FUNDED

First Trust Deed collateralized by seven residential lots in MacDonald Highlands Master Planned Community. These lots are part of the Dragon Rock community within MacDonald Highlands which was developed by the borrower. All of the lots have a purchase option with Blue Heron, one of the top custom home builders in Las Vegas, NV. Once Blue Heron finds a buyer for the lot, it will be purchased directly from our borrower and then Blue Heron will build the customer a home on the purchased lot. These lots have been selling for an average price of nearly $700,000 over the past six months. Master Loan Amount: $2,848,000 Yield: 10% 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. Final maturity date is 6/27/23.

By |January 4th, 2022|Funded Investments|0 Comments
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Harmony Homes Nevada, LLC #5309-#5315 | NEVADA – FUNDED

First Trust Deed collateralized by roughly 7.18 acres of residentially zoned land near the corner of Azure and N 5th St in Las Vegas, NV (roughly eight miles north of downtown Las Vegas). The land is currently zoned as a Planned Unit Development since the previous owners have gone through many different iterations with the local municipalities to get zoning approvals. The borrower is currently working with the city to approve a 108-unit community. All 108 units are expected to be in the form of 36 triplex buildings. This tentative map approval for the 108-unit community will happen shortly after the funding of this loan. In about nine months the borrower will begin the development work on the land which is expected to cost nearly $5,000,000. The first home will not be made available for approximately one year. With plans ranging from 1100 -1500 square feet and price points starting in the high $200,000’s, these townhomes will help fill the demand for the entry level buyer. Master Loan Amount: $3,250,800 Yield: 10% 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 20th, 2021|Funded Investments|0 Comments
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Harmony Homes Nevada, LLC #5304-5308 | NEVADA – FUNDED

First Trust Deed collateralized by roughly 9.48 acres of residentially zoned land near the corner of Craig and Lamont St Rd in Las Vegas, NV (roughly seven miles northeast of downtown Las Vegas). The land is currently zoned Multi-Family Residential with a medium density which will allow for 18 units per acre. The borrower is currently working with the city to approve a 120-lot community. All 120 units are expected to be in the form of 40 triplex buildings. This tentative map approval for the 120-lot community will happen shortly after the funding of this loan. In about nine months, the borrower will begin the development work on the land which is expected to cost nearly $5,000,000. The first home will not be made available for approximately one year. With plans ranging from 1100 -1500 square feet and price points starting in the high $200,000’s, these townhomes will help fill the demand for the entry level buyer. Master Loan Amount: $2,016,000 Yield: 10% 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. Final maturity date is 6/27/23.

By |December 17th, 2021|Funded Investments|0 Comments
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Blue Heron Strata, LLC #5283 | NEVADA – FUNDED

First Trust Deed collateralized by 4.59 acres of residential land near the corner of Moon Hill Dr and Highland Shores Dr in Henderson, NV (approximately 20 miles southeast of downtown Las Vegas). Although the property is currently 4.59 acres, the borrower is working with the seller of the land on a boundary line adjustment that would add about 10% more land to the property that is being acquired. This won’t allow for any additional lots but instead it will allow many of the lots to be larger in size. Additionally, the lots are currently partly complete, and the seller is obligated to finish the lots before all the money is released to them from escrow. This is anticipated to occur in March of 2022. Homes in this development will average nearly 5,000 square feet with an average sales price of nearly $3,000,000. Within the Lake Las Vegas master planned community in which the development is located, there is a price premium associated with homes that have view of the lake. Most of the lots in this development will have unobstructed view of the lake. Master Loan Amount: $5,700,000 Yield: 11% interest is paid monthly in arrears with payments due on

By |December 15th, 2021|Funded Investments|0 Comments
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Ignite Funding, LLC | 6700 Via Austi Parkway, Suite 300, Las Vegas, NV 89119 | P 702.739.9053 | T 877.739.9094 | F 702.922.6700 | NVMBL #311 | AZ CMB-0932150 | | Money invested through a mortgage broker is not guaranteed to earn any interest and is not insured. Prior to investing, investors must be provided applicable disclosure documents.
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