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Diversification

    17th and Sheridan, LLC | COLORADO – FUNDED

    First Trust Deed collateralized by a parcel of land on the Southeast corner of 17th Ave and Sheridan Blvd in Denver, CO. This site is directly across the street from Sloan’s Lake, the second largest park in Denver and one of Denver’s fastest growing neighborhoods. The site allows for a high-density residential redevelopment project. The city has already approved a 60-unit garden style for-rent stacked flat product (an artist’s rendering is shown in the picture above). Although this loan is just for the acquisition of the project, the total project cost will be nearly $14,000,000. Over the coming months, the borrower will work with subcontractors to get hard bids before obtaining construction financing. It is anticipated the borrower will be able to pay off this loan with construction financing in about six months. Master Loan Amount: $2,500,000 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 4/24/23.  

    By |October 28th, 2021|Funded Investments|Comments Off on 17th and Sheridan, LLC | COLORADO – FUNDED
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      Vanquish Capital, LLC #5244 | UTAH – FUNDED

      The collateral for this loan consists of nearly 19 acres of residentially zoned land in Santaquin, UT (approximately 22 miles south of downtown Provo, UT). The borrower typically has the projects they acquire fully entitled with site plan approval; this project is a bit different since they will be selling it to one buyer upon completion. The borrower has worked with the city to get conceptual approval for 294 townhomes and expects the buyer to get final map approval after the partially entitled project sells. Although the property is not under contract to be sold yet, there are two buyers very interested in the property and it is expected to be under contract in the next two weeks and to be sold within six months. In the unlikely event the borrower is unable to sell the project in short order, they will develop the land and sell the townhomes to their long waitlist of investors. Loan Amount: $5,600,000 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 an optional nine-month extension

      By |October 27th, 2021|Funded Investments|Comments Off on Vanquish Capital, LLC #5244 | UTAH – FUNDED
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        FIG Timber Woods, LLC #5237 – 5243 | ARIZONA – FUNDED

        The collateral for this loan consists of 17 acres of residentially entitled land which will allow for the development of a 191 unit attached development. As it currently stands, the borrower has already presold all 191 units for an average of nearly $210,000 per unit. Almost all units will be three bedrooms, two bathrooms with over 1,300 square feet of living space. It is anticipated the borrower will begin development work on the site within a few weeks of loan funding and complete all development in June of 2022. Tranche Loans: Estimated Date - Estimated Amount - Loan # 11/4/2021 - $520,000 - #5237 11/4/2021 - $520,000 - #5238 11/4/2021 - $520,000 - #5239 11/4/2021 - $520,000 - #5240 11/4/2021 - $520,000 - #5241 11/4/2021 - $520,000 - #5242 11/4/2021 - $520,000 - #5243 1/28/2022 - $520,000 - TBD - Not open for investment at this time 2/25/2022 - $520,000 - TBD - Not open for investment at this time 3/25/2022 - $520,000 - TBD - Not open for investment at this time 4/29/2022 - $520,000 - TBD - Not open for investment at this time 5/27/2022 - $520,000 - TBD - Not open for investment at this time 6/24/2022

        By |October 22nd, 2021|Funded Investments|Comments Off on FIG Timber Woods, LLC #5237 – 5243 | ARIZONA – FUNDED
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          Mosaic Seven, LLC #5231 | NEVADA – FUNDED

          The collateral for this loan is a two and a quarter-acre parcel of vacant land located in the fast growing “West Henderson” area of Las Vegas, NV. Given the areas pro-development city officials, the area has seen robust growth in the past few years with much more development planned in the near future. Although the property is currently zoned as rural open land with a commercial planned use, it is the intent of the borrower to get approval to allow for industrial design manufacturing which has been approved on many parcels in the area. In addition to this new acquisition, the borrower also owns or controls over 170 additional acres in the area. One of the advantages of parcels in the area is that city officials would be willing to support both residential as well as industrial developments on the site. Loan Amount: $1,540,000 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 4/27/23.

          By |October 19th, 2021|Funded Investments|Comments Off on Mosaic Seven, LLC #5231 | NEVADA – FUNDED
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            Mosaic Seven, LLC #5230 | NEVADA – FUNDED

            The collateral for this loan is a two and a half-acre parcel of vacant land located in the fast growing “West Henderson” area of Las Vegas, NV. Given the areas pro-development city officials, the area has seen robust growth in the past few years with much more development planned in the near future. Although the property does not currently have a zoning classification, it is the intent of the borrower to get approval to allow for industrial design manufacturing which has been approved on many parcels in the area. In addition to this new acquisition, the borrower also owns or controls over 170 additional acres in the area. One of the advantages of parcels in the area is that city officials would be willing to support both residential as well as industrial developments on the site. Loan Amount: $2,640,000 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 4/27/23.

            By |October 15th, 2021|Funded Investments|Comments Off on Mosaic Seven, LLC #5230 | NEVADA – FUNDED
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              Mosaic Seven, LLC #5229 | NEVADA – FUNDED

              The collateral for this loan is a five-acre parcel of vacant land located in the fast growing “West Henderson” area of Las Vegas, NV. Given the areas prodevelopment city officials, the area has seen robust growth in the past few years with much more development planned in the near future. Although the property does not currently have a zoning classification, it is the intent of the borrower to get approval to allow for industrial design manufacturing which has been approved on many parcels in the area. In addition to this new acquisition, the borrower also owns or controls over 170 additional acres in the area. One of the advantages of parcels in the area is that city officials would be willing to support both residential as well as industrial developments on the site Loan Amount: $2,640,000 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 4/27/23.

              By |October 13th, 2021|Funded Investments|Comments Off on Mosaic Seven, LLC #5229 | NEVADA – FUNDED
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                Gilbert Care, LLC #5228 | ARIZONA – FUNDED

                The collateral for this loan is an approximately 14.39-acre site that will be entitled to allow for the construction of medical facilities. On the large three-acre parcel shown in the picture above, the borrower intends to build a 48-bed behavior health facility which is their expertise. With the remaining 11 acres the borrower will look for built-to-suit medical tenants or sell the land off to medical developers. The project sits less than 400 yards from the entrance to the 212 bed Mercy Gilbert Medical Center which opened in 2006. Loan Amount: $7,300,000 Yield: 10% interest rate 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.

                By |October 4th, 2021|Funded Investments|Comments Off on Gilbert Care, LLC #5228 | ARIZONA – FUNDED
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                  Mosaic Seven, LLC #5224 | NEVADA – FUNDED

                  The collateral for this loan is a five-acre parcel of vacant land located in the fast growing “West Henderson” area of Las Vegas, NV. Given the areas pro-development city officials, the area has seen robust growth in the past few years with much more development planned in the near future. Although the property does not currently have a zoning classification, it is the intent of the borrower to get approval to allow for industrial design manufacturing which has been approved on many parcels in the area. In addition to this new acquisition, the borrower also owns or controls over 170 additional acres in the area. One of the advantages of parcels in the area is that city officials would be willing to support both residential as well as industrial developments on the site. Loan Amount: $2,842,000 Yield: 10% interest rate 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 4/2/23.

                  By |September 28th, 2021|Funded Investments|Comments Off on Mosaic Seven, LLC #5224 | NEVADA – FUNDED
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                    Bel Canto Utah I, LLC #5223 | UTAH – FUNDED

                    The collateral for this loan is an approximately 9.33-acre site that will be entitled to allow for the construction of a 237-unit, four-story apartment complex. With a unit mix of 36 studio’s, 107 one-bedrooms, and 94 two-bedroom units, the project is geared to smaller units focused toward the more cost conscience renters. With final plat approved in July of this year, the borrower is in the process of getting final general contractor pricing for the build job which will put them in a position to get construction financing. Loan Amount: $3,408,000 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 3/26/23.

                    By |September 16th, 2021|Funded Investments|Comments Off on Bel Canto Utah I, LLC #5223 | UTAH – FUNDED
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                      Rhino Holdings Schaumburg, LLC #5222 | ILLINOIS – FUNDED

                      The collateral for this loan is a 54,641 square foot, vacant office building siting on a 2.1-acre site. Since acquiring the site earlier this year, the borrower has remedied the deferred maintenance to better position the property for an end user. Although the four-story office building was previously a single tenant office building, the floor plan is conducive to transition into a multi-tenant property. Originally the borrower intended to lease the property before selling it however it will now be sold as-is. The property will be auctioned in November with an anticipated close in December. The auction site expects the property to sell for $1,200,000. Loan Amount: $850,000 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 3/20/23.

                      By |September 9th, 2021|Funded Investments|Comments Off on Rhino Holdings Schaumburg, LLC #5222 | ILLINOIS – FUNDED
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                      Ignite Funding, LLC | 6700 Via Austi Parkway, Suite 300, Las Vegas, NV 89119 | P 702.739.9053 | T 702.919.4281 | 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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