developed land Archives - Page 20 of 20

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Vegas Care Partners, LLC #4645 | NEVADA – FUNDED

Vegas Care Partners, LLC #4645 | NEVADA – FUNDED

First Trust Deed collateralized by a 1.49-acre parcel of commercially zoned land approximately 6 miles east of downtown Las Vegas, Nevada. Since acquiring the site in June of 2018, the borrower has successfully worked with the city to obtain the proper approvals for the development, and ultimate construction of the behavior health facility. The facility will have 24 client units with a total of 44 rentable beds covering just over 16,000 square feet. It is anticipated the facility will be completed and operational by the end of 2020. Once the building is operational, it will be managed by ERS1 Management who is led by Ron Stewart. The management team has a combined experience in the senior healthcare arena of over 150 years Loan Amount: $6,800,000 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: 9 months with one optional 9-month extension period at maturity.

By Izzy|February 25th, 2020|Funded Investments|0 Comments

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ME 52 Partners, LLC #4643 | NEVADA – FUNDED

ME 52 Partners, LLC #4643 | NEVADA – FUNDED

First Trust Deed collateralized by five acres of land which is approximately 18 miles southwest of downtown Las Vegas, NV. The buyer is also under contract to acquire the five acres directly to the south of this property as well (not part of the collateral of this loan). It is the intent of the borrower to finish the entitlement process to enable 55 attached townhomes to be constructed on this site. The zoning for the site directly to the south of this project has already been granted this same zoning, so the real question is when the zoning will be approved? It is anticipated the zoning change will be completed in late summer of 2020 and the tentative map concurrently approved. Once the tentative map is approved and the grading permit is ready, it is the intent of the borrower to pay off the loan. Loan Amount: $1,750,000 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: 9 months with one optional nine-month extension period at maturity.

By Izzy|February 18th, 2020|Funded Investments|0 Comments

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Tailor Built Homes, LLC #4536 | UTAH – FUNDED

Tailor Built Homes, LLC #4536 | UTAH – FUNDED

First Trust Deed collateralized by a soon to be fully developed residential lot (0.19 acres in size) located in Holladay, UT (approximately 17 miles southeast of downtown Salt Lake City, Utah). Loan proceeds will be used for the construction of a three-bedroom, two and a half bath home. The home will be a total of 4,065 square feet with 2,690 square feet of finished space (does not include the partially unfinished basement). The borrower is acquiring all three of the partially finished lots at the end of the street. Money to complete the development will be held at the title company out of the sellers proceeds to complete the development work. The borrower will start all three homes shortly after the development is completed. Loan Amount: $575,000 Yield: 10.25% (Principal Balance ≥ $100,000); 10.00% (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: Six months with an optional six-month extension at maturity.

By Izzy|June 12th, 2018|Funded Investments|0 Comments

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Tailor Built Homes, LLC #4535 | UTAH – FUNDED

Tailor Built Homes, LLC #4535 | UTAH – FUNDED

First Trust Deed collateralized by a soon to be fully developed residential lot (0.21 acres in size) located in Holladay, UT (approximately 17 miles southeast of downtown Salt Lake City, Utah). Loan proceeds will be used for the construction of a three-bedroom, two and a half bath home. The home will be a total of 4,140 square feet with 2,400 square feet of finished space (does not include the partially unfinished basement). The borrower is acquiring all three of the partially finished lots at the end of the street. Money to complete the development will be held at the title company out of the sellers proceeds to complete the development work. The borrower will start all three homes shortly after the development is completed. Loan Amount: $525,000 Yield: 10.25% (Principal Balance ≥ $100,000); 10.00% (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: Six months with an optional six-month extension at maturity.

By Izzy|June 12th, 2018|Funded Investments|0 Comments

KD Commerce L.L.C., #4404 – NEVADA – FUNDED

First Trust Deed collateralized by two fully developed residential lots located on the Northeast corner of West Centennial Parkway and North Commerce Street in North Las Vegas. These two lots are within a larger 134 lot community, of which almost 100 have been sold to end users. The two lots have permits submitted to build a duplex, one unit on each lot. Each unit will be two stories and have a two car garage. The unit on the APN ending in -057 will be 2,296 square feet and the unit on the APN ending in -058 will be 2,314 square feet. Each will be three bedrooms with two baths. Loan Amount: $437,000 Yield: 10.25% (Principal Balance ≥ $100,000); 10% (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: 6 months with an optional 6 month extension at maturity.

By ignite|May 25th, 2017|Funded Investments|0 Comments

KD Commerce L.L.C., #4402 – NEVADA – FUNDED

First Trust Deed collateralized by two fully developed residential lots located on the Northeast corner of West Centennial Parkway and North Commerce Street in North Las Vegas. These two lots are within a larger 134 lot community, of which almost 100 have been sold to end users. The two lots have permits submitted to build a duplex, one unit on each lot. Each unit will be two stories and have a two car garage. The unit on the APN ending in -055 will be 2,314 square feet and the unit on the APN ending in -056 will be 2,296 square feet. Each will be three bedrooms with two baths. Loan Amount: $437,000 Yield: 10.25% (Principal Balance ≥ $100,000); 10% (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: 6 months with an optional 6 month extension at maturity.

By ignite|May 12th, 2017|Funded Investments|0 Comments

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Yousef, LLC #4338 | CHICAGO – FUNDED

Yousef, LLC #4338 | CHICAGO – FUNDED

First Trust Deed collateralized by three fully leased commercial buildings in and around Chicago, Illinois. The borrower has owned the properties starting in 1983 and plans to continue to own them for the foreseeable future. All of the properties are currently leased to US Autos, APEX Inc., and Midwest Allergy, respectively with an average duration of the leases through the middle of 2018. It is the intent of the borrower to pay off this loan through the refinance of the properties once more conventional bank financing is available. Loan Amount: $1,650,000 Yield: 10.00% (Principal Balance < $100,000); 10.25% (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: Twelve months with an optional six month extension at maturity.

By ignite|August 19th, 2016|Funded Investments|0 Comments