first trust deeds Archives - Page 2 of 19

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Lokal Communities, LLC #6063-6070 | COLORADO – FUNDED

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 Izzy|January 8th, 2024|Funded Investments|0 Comments

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Nola Star Holdings, LLC #6058 | NEVADA – FUNDED

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 Izzy|December 15th, 2023|Funded Investments|0 Comments

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FIG Jackson Crossing, LLC #6030-6038 | UTAH – SOLD OUT

FIG Jackson Crossing, LLC #6030-6038 | UTAH – SOLD OUT

The borrower purchased the 17-acre site back in August of 2021. Since the acquisition, the borrower worked with the city to get the property properly entitled for the community which now consists of two commercial pads and 220 attached residential units. Located approximately 40 miles north of Salt Lake City, UT in Ogden, the property is near a growing part of the city. Both commercial pads have been sold to developers and so have 124 of the 220 units, leaving 96 units remaining in FIG’s ownership. 20 additional units are presold (not part of this collateral) and the remaining 76 unsold lots are the collateral of this loan. These remaining lots will be retained by the borrower until the units are completed and rented out, at which point they will then sell them to investors. This loan is to provide the financing to complete the construction of these units at which point they will be sold, and this loan repaid. Master Loan Amount: $16,419,800 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

By Izzy|December 5th, 2023|Available Investments|0 Comments

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Rhino Holdings Grimes, LLC #6027 | NEW MEXICO – SOLD OUT

Rhino Holdings Grimes, LLC #6027 | NEW MEXICO – SOLD OUT

The collateral for this loan consists of a former K-Mart in Hobbs, NM which is approximately 300 miles southeast of New Mexico’s largest city, Albuquerque. This 88,849 square foot facility was purchased by the borrower in 2018 after the previous tenant moved out leaving the property completely vacant. Since that time the borrower has leased 87% of the project to national brands which will open for business once the tenant improvement work is completed. This loan will be used to refinance the acquisition of the property and future tranches will be used to complete the six million of work on the property. Most of the money will go into tenant specific work but some will be utilized for repair to the structure, landscaping, lighting, and to repave the parking lot. Master Loan Amount: $15,880,000 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 5/27/25.

By Izzy|November 27th, 2023|Available Investments|0 Comments

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Villas at 35th, LLC #6021 | ARIZONA – SOLD OUT

Villas at 35th, LLC #6021 | ARIZONA – SOLD OUT

The collateral for this loan consists of approximately three acres of multi-family zoned land in Phoenix, AZ. The current owner purchased the property about two years ago and worked with the proper government officials to get the site approved for a 35 unit attached residential community. The homes will be developed and ultimately constructed in one phase. The development work has already begun and should be completed in about six weeks. Already completed are the underground wet utilities and the dry utilities have just been started. Even prior to the completion of the horizonal development work, the borrower and their general contractor will begin the vertical construction of all 35 units. It is anticipated that the whole project will be completed in approximately nine months. Subsequent tranches of this loan will be used to complete all 35 units of this project. The 35 units are all three bedrooms with 2.5 bathrooms covering 1,312 square feet of living space each. Master Loan Amount: $9,600,000 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

By Izzy|November 27th, 2023|Available Investments|0 Comments

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FIG Stowe Creek, LLC #6017 | ARIZONA – SOLD OUT

FIG Stowe Creek, LLC #6017 | ARIZONA – SOLD OUT

The collateral for this loan consists of nearly 2.15 acres of land in Phoenix, AZ. The current owner purchased the property in August of 2021 for $6,582,254 and has since obtained the proper zoning and entitlements to begin the development and ultimate construction of a 32-unit low rise, multifamily complex. With building permits in hand, our borrower will acquire the site and almost immediately begin construction of the property. With a build time of 12 months and a total cost of $11,360,000 (according to the appraisal detailed above), the borrower plans on refinancing the cash flowing asset upon stabilization of the property. The units will average 1,324 square feet in size and rent for $1,850 per unit. Master Loan Amount: $8,854,000 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 extension at maturity. Final maturity date is 5/6/25.

By Izzy|November 22nd, 2023|Available Investments|0 Comments

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Three Palms, LLC #6012 | NEVADA – FUNDED

Three Palms, LLC #6012 | NEVADA – FUNDED

The collateral for this loan is a 0.35 acre finished residential lot in McDonald Ranch which is a luxury, guard gated community in Henderson, NV (a suburb of Las Vegas). The lot was purchased in early 2023 for approximately $1,400,000 and since that time the borrower has been working with the city and HOA to get construction drawings approved to build a spec home. The home would be about 8,000 square feet with an asking sales price north of $7,000,000. This would be the fourth such home the borrower has built in the same community over the past few years. He also has another lot in this community that is ready to begin construction. Loan Amount: $980,000 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 5/01/25.

By Izzy|November 22nd, 2023|Funded Investments|0 Comments

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MJZ, LLC #6005 | NEVADA – FUNDED

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 Izzy|October 19th, 2023|Funded Investments|0 Comments

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Grays Development Company, Inc #5998-#6000 – FUNDED

Grays Development Company, Inc #5998-#6000 – FUNDED

First Trust Deed collateralized by a parcel of land in the Eastern part of Denver within one of Denver’s top-ranked neighborhoods. The collateral of this loan consists of three “super pads” that will each have a 20-unit condo building constructed on them. The remaining 60 units represent the last remaining units within the community as the other seven buildings have either already been sold to end buyers or are in some stage of development. Condominiums in the community average just over 1.100 square feet and are selling for an average of nearly $390,000 since its inception back in September of 2021. The two- and three-bedroom condos are currently selling for over $400,000 with additional price increases planned in the future. The community known as Gateway Commons offers luxury, low maintenance living with amenities including a central grass park with a fire pit and a dog park. Each of the units has one car garage included. The borrower currently anticipates selling one super pad to their related building arm every six months starting in January of 2024. Master Loan Amount: $3,330,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day

By Izzy|September 29th, 2023|Funded Investments|0 Comments

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Alpine Village, LLC #5895 – FUNDED

Alpine Village, LLC #5895 – FUNDED

A 1.46 acre parcel of land, situated near the mouth of Kyle Canyon in Las Vegas, NV is the collateral for this first trust deed loan. This part of Las Vegas has seen more residential building permits pulled over the past year than nearly all other submarkets. As the old adage goes; “commercial follows rooftops.” This property is a prime example of that. The borrower intends to get zoning approval for the ultimate construction of a car wash and tire shop which will be nearly surrounded by newly constructed homes. The borrower will also have the property presold shortly after acquiring the parcel to the car wash operator who will ultimately occupy one of the two buildings. The completion of the zoning process which will be the triggering event to sell the project is anticipated to be completed in approximately nine months. Loan Amount: $1,280,000 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 4/3/25.

By Izzy|September 29th, 2023|Funded Investments|0 Comments