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Diversification

    Harmony Homes Nevada, LLC #6144-#6148 – FUNDED

    First Trust Deed collateralized by 29 finished townhome lots that was once roughly 1.44 acres of residentially zoned land near the corner of Vegas Dr and N Rancho Dr. This community is roughly five miles northwest of downtown Las Vegas. The land was zoned R-2 which allowed for the development of 34 homes on the site, but the borrower worked with the city to approve a 248-lot community. Since acquiring the site about five years ago, the borrower has continued to work with the city to approve the 248- lot community as depicted on the next page. Home sales have already begun, averaging $330,000 and 1,300 square feet in size, it is anticipated the borrower will be sold out of the community by the middle of 2024. Master Loan Amount: $1,522,500 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 7/23/25.

    By |January 16th, 2024|Funded Investments|Comments Off on Harmony Homes Nevada, LLC #6144-#6148 – FUNDED
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      Harmony Homes Nevada, LLC #6128-#6142 | NEVADA – FUNDED

      First Trust Deed collateralized by 98 finished residential lots in the Cadence Master Planned Community near the corner of Grand Cadence Drive and Sunset Road in Henderson, NV (roughly 15 miles southeast of downtown Las Vegas). This is the second phase of the larger 150 lot community that the borrower is actively selling in. This is the third community in this area the borrower has done with the exact same floor plans. With plans ranging from 1121 -1711 square feet and price points of under $350,000, these townhomes will help fill the demand for the entry level buyer. The first phase of the community continues to sell homes even in this post COVID era where home sales have slowed. Master Loan Amount: $4,018,000 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 7/23/25.

      By |January 16th, 2024|Funded Investments|Comments Off on Harmony Homes Nevada, LLC #6128-#6142 | NEVADA – FUNDED
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        Lokal Communities, LLC #6112-6126 – FUNDED

        The collateral of this loan consists of 3-story urban style townhomes located about 15 miles from Colorado Springs Airport. Most of the homes constructed have been sold already with less than 20 remaining available for sale. Townhomes in the community range from 1,238 to 2,157 square feet and are selling anywhere from $399,990 to $539,990. The floor plans for the collateral of this loan are shown on the next page. The three different types of units consist of three- and four-bedroom units with 2.5 or 3.5 bathrooms. The community known as The Vistas at West is surrounded by countless outdoor activities and recreation, as well as fine dining and entertainment. Each of the units has a one-car garage included. The borrower currently anticipates completely selling out of the units by the end of summer. Master Loan Amount: $6,143,000 Yield: 12% 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 7/9/25.

        By |January 9th, 2024|Funded Investments|Comments Off on Lokal Communities, LLC #6112-6126 – FUNDED
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          Lokal Communities, LLC #6102-6110 | COLORADO – FUNDED

          The collateral of this loan consists of urban style townhomes located about 15 miles east of downtown Denver and just minutes from Denver International Airport. Most of the homes constructed have been sold already with less than 10 remaining available for sale. Townhomes in the community range from 1,051 to 1,264 square feet and are selling anywhere from $344,000 to $387,000. Lokal Homes is offering multiple two-bedroom, two-bath and multiple three-bedroom, three-bath floor plans to accommodate single family residents. The community known as Gateway Commons offers a central grass park with fire pit and a dog park. Each of the units has a one-car garage included. The borrower currently anticipates completely selling out of the units by the end of the summer. Master Loan Amount: $2,398,000 Yield: 12% 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 7/8/25.

          By |January 9th, 2024|Funded Investments|Comments Off on Lokal Communities, LLC #6102-6110 | COLORADO – FUNDED
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            Lokal Communities, LLC #6089-6100 | COLORADO – FUNDED

            The collateral of this loan consists of 3-story urban style townhomes located about 5 miles south of downtown Denver. A majority of the homes constructed have been sold already with only 5 remaining available for sale. Townhomes in the community range from 1,238 to 2,157 square feet and are selling anywhere from $569,990 to $764,990. Lokal Homes is offering two-bedroom, two- and one-half bath, three-bedroom, two- and one-half bath, three-bedroom, three- and one-half bath and two types of four-bedroom, three- and one-half bath floor plans to accommodate single family residents. The community known as The Hub at Virginia Village offers a BBQ area and a Bocce Ball court for all of its residents to enjoy. Each of the units has a two-car garage included. The borrower currently anticipates completely selling out of units by the end of the summer. Master Loan Amount: $4,096,000 Yield: 12% 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 7/7/25.  

            By |January 8th, 2024|Funded Investments|Comments Off on Lokal Communities, LLC #6089-6100 | COLORADO – FUNDED
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              Etta Lo, LLC #6083 | TEXAS – FUNDED

              First Trust Deed collateralized by 2 fully built residential duplexes in Wolfforth, TX (about 12 miles southwest of Lubbock, TX). Consistently ranked in the fastest growing markets in Texas, there is a need for new housing supply in this area. The borrower is purchasing these 2 completed units from Prez Enterprises. Our borrower will then lease up the properties and sell the rented properties to their investors as cash flowing assets. Each home sits on approximately .17 acres of land with units ranging from 2,446 to 2,700 square feet in size. The address to the first Assessor Parcel Number shown above is 501 East 21st Street Wolfforth, TX 79382 and the second one is 2006 Bryan Avenue Wolfforth, TX 79382. Loan Amount: $700,000 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 6/26/2025.

              By |January 8th, 2024|Funded Investments|Comments Off on Etta Lo, LLC #6083 | TEXAS – FUNDED
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                Lokal Communities, LLC #6063-6070 | COLORADO – FUNDED

                The collateral of this loan consists of low-maintenance condominiums located in the Southwestern part of Denver, CO. A majority of the units constructed have been sold already with only 3 remaining available for sale. Condominiums in the community range from 884 to 1,843 square feet and are selling anywhere from $419,990 to $599,990. Lokal Homes is offering two-bedroom, two-bath floor plans along with three-bedroom, three-bath floor plans to accommodate single family residents. The community known as Chatfield Bluffs offers luxury living with amenities including a community clubhouse that offers a fitness center, pool, hot tub, and patio with room for all its residents to enjoy. Each of the units has one car garage included. The borrower currently anticipates completely selling out of the unity by the end of the summer. Master Loan Amount: $2,338,200 Yield: 12% 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 6/26/25.

                By |January 8th, 2024|Funded Investments|Comments Off on Lokal Communities, LLC #6063-6070 | COLORADO – FUNDED
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                  Kavison Homes, LLC #6054 | NEVADA – FUNDED

                  The collateral for this loan is an unfinished residential lot with 0.76 acres of space located just under one mile east of the Harry Reid International Airport in Las Vegas. Improvements include multiple points of ingress and paved roads to the parcel. In the surrounding area there are other residential communities and commercial units located on the north, east and south sides of the lot. The lot was sold back in June of 2022 and has been sat on due to the economy, but it has now been deemed an exceptional time to start funding this project that includes eight townhomes. The borrower has already consulted with a few of the top developers in Las Vegas to price out construction jobs. The borrower ultimately chose M Square Development to build these townhomes. Homes in this townhome community sit at 2,888 square feet. Loan Amount: $1,100,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *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 6/27/25.

                  By |January 5th, 2024|Funded Investments|Comments Off on Kavison Homes, LLC #6054 | NEVADA – FUNDED
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                    Nola Star Holdings, LLC #6058 | NEVADA – FUNDED

                    The collateral for this loan is a residentially zoned 8.83-acre parcel of land situated near the NW corner of Smoke Ranch Rd and Rancho Dr. The property is directly north of an 11.77-acre site that the borrower is currently building over 300 apartment units on. Our collateral will be the next phase of development and will continue with the multifamily development. Both parcels are just west of the North Las Vegas Airport. At the northernmost cross access easement, which extends west from North Rancho Drive, there is a signaled traffic light which also greatly improves access to the sites. In the surrounding area there are other residential communities and commercial units located on all sides surrounding the lot. Also, all underground utilities, including gas, water, and sewer are completed and extended to the subject site. The lot was purchased about three years ago and since that time the borrower has started construction on the first phase and will begin construction on this phase in about a year Loan Amount: $7,366,000 Yield: 11% 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 two additional nine-month extension

                    By |December 15th, 2023|Funded Investments|Comments Off on Nola Star Holdings, LLC #6058 | NEVADA – FUNDED
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                      MJZ, LLC #6005 | NEVADA – FUNDED

                      The collateral for this loan is a finished residential lot in Lake Las Vegas which is a master planned community surrounding the second largest reservoir in Southern Nevada. The lot was sold by the master planned developer directly to the borrower instead of going through a production home builder which is more typical for this type of transaction. The borrower has already consulted with a few of the top custom home builders in Las Vegas to price out potential construction jobs. The borrower ultimately chose JAG Development to build this home. Custom homes in this community average about 6,000 square feet and are valued at nearly $5,000,000. The borrower has submitted plans for a 5,500 square foot home with an estimated cost of over $4,000,000. Loan Amount: $514,000 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 extensions at maturity. Final maturity date is 7/16/24.

                      By |October 19th, 2023|Funded Investments|Comments Off on MJZ, LLC #6005 | NEVADA – 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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