first trust deeds Archives - Page 11 of 20

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FIG Cooper Woods, LLC #5272 | UTAH – FUNDED

FIG Cooper Woods, LLC #5272 | UTAH – FUNDED

The collateral for this loan consists of seven acres of residentially zoned land in Roy, UT (approximately four miles west of Ogden, UT and 35 miles north of Salt Lake City, 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 82 townhomes and expects the buyer to get final map approval after the partially entitled project sells. The buyer for the soon to be fully entitled land has purchased many assets from this borrower over the past few years. It is anticipated the loan will be sold to the buyer in about three 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: $2,200,000 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

By Izzy|December 3rd, 2021|Funded Investments|0 Comments

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Mosaic Seven, LLC #5267 | NEVADA – FUNDED

Mosaic Seven, LLC #5267 | NEVADA – FUNDED

The collateral for this loan is a 4.12-acre parcel of 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: $2,605,000 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 6/13/23.

By Izzy|November 17th, 2021|Funded Investments|0 Comments

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Mosaic Seven, LLC #5235 | NEVADA – FUNDED

Mosaic Seven, LLC #5235 | NEVADA – FUNDED

The collateral for this loan is a 4.12-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 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: $2,530,000 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 5/13/23.

By Izzy|November 17th, 2021|Funded Investments|0 Comments

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Blue Heron Stonewater, LLC #5249-5266 | NEVADA – FUNDED

Blue Heron Stonewater, LLC #5249-5266 | NEVADA – FUNDED

First Trust Deed collateralized by 5.39 acres of residential land near the corner of Southern Highlands Pkwy and Stonewater Ln in Las Vegas, NV (approximately 15 miles south of downtown Las Vegas). Since going under contract on the land, the borrower has received preliminary approval to build a 36-lot community. Although final plat approval is not expected until the end of February of 2022, it is anticipated the borrower will begin development work prior to that time. This community is truly an infill parcel as part of the project is a converted parking lot. Homes in the community will average 3,454 square feet and are expected to sell for an average of $1,500,000. Home closings are not anticipated to happen before February of 2023. Ignite Funding intends to be the development lender as well. Master Loan Amount: $5,040,000 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 5/16/23

By Izzy|November 12th, 2021|Funded Investments|0 Comments

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Eagle Physical Therapy, LLC #5246 | UTAH – FUNDED

Eagle Physical Therapy, LLC #5246 | UTAH – FUNDED

The collateral for this loan consists of a 3,007 square foot home in Lehi, UT which is 27 miles south of Salt Lake City, UT. Built in 2009, the home is in good physical condition with only minor cosmetic repairs necessary to reposition the asset to sell again. With some minor stucco work and grading the slope of the soil away from the five bedroom, three bath house, the borrower and his contractor are more than capable of making the necessary changes. Once the property repairs are performed, the borrower anticipates listing the home for $620,000 which is more in line with what a property of this size and condition should be selling for. The purchase price is $501,000 with an anticipated budget of $3,000 to fix the necessary repairs. Loan Amount: $400,000 Yield: 10% iterest 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 optional extension at maturity. Final maturity date is 8/2/22.

By Izzy|November 8th, 2021|Funded Investments|0 Comments

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Vanquish Capital, LLC #5244 | UTAH – FUNDED

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 Izzy|October 27th, 2021|Funded Investments|0 Comments

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FIG Timber Woods, LLC #5237 – 5243 | ARIZONA – FUNDED

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 Izzy|October 22nd, 2021|Funded Investments|0 Comments

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Mosaic Seven, LLC #5231 | NEVADA – FUNDED

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 Izzy|October 19th, 2021|Funded Investments|0 Comments

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Mosaic Seven, LLC #5230 | NEVADA – FUNDED

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 Izzy|October 15th, 2021|Funded Investments|0 Comments

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Mosaic Seven, LLC #5229 | NEVADA – FUNDED

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 Izzy|October 13th, 2021|Funded Investments|0 Comments