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first trust deeds

GGD Oakdale, LLC #5729 | NEW MEXICO – FUNDED

The two parcels that are the collateral of this loan sit directly across from the newly renovated luxury apartments known as Blvd 2500 (currently owned by an affiliated company of the borrower). Since acquiring the site in 2016, the borrower has converted the preexisting hotel into the apartment buildings and demolished the indoor waterpark. This “excess land” that we are encumbering will be retained by the borrower even after he sells the apartments. Currently, the borrower is finalizing the lease with a large gas station company as well as large coffee shop who will each operate drive through pads. The gas station will operate on a ground lease meaning the tenant is responsible for everything built on the property and the owner retains ownership rights. The coffee shop will be leased as a “normal” transaction after the borrower constructs the building. Loan Amount: $3,700,000 Yield: 10% interest Schedule: 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 9/28/24.

By |March 28th, 2023|Funded Investments|0 Comments
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FIG Jackson Crossing, LLC #5717-5723 | UTAH – FUNDED

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 80 of the 220 units, leaving the 140 units as collateral of this loan. All 140 units are in some stage of construction from the planning stage through completion. All of the 140 units are presold (pending any unforeseen cancelations). Master Loan Amount: $4,400,000 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 9/18/24.

By |March 21st, 2023|Funded Investments|0 Comments
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Rhino Holdings Silverdale Village, LLC #5715 | WASHINGTON – FUNDED

The collateral for this loan is an approximately 5.78-acre site that is currently divided into five separate parcels with nearly 80,000 square feet of rentable space. These five separate parcels were built in 1963-1965 and consists of one large inline retail shopping center, two retail pads, and two apartment buildings. Although the project is nearly 80% leased, the lack of capital improvements to the site in many years has made it very hard to rent much of the remaining space. It is the intent of the borrower to demolish the two apartment buildings and two retail pads to make way for two new drive through retail pads. With the two new drive throughs and the deferred maintenance resolved, the unleased space should quickly be absorbed with national tenants. Current tenants include Grocery Outlet and Harbor Freight along with many local tenants. Loan Amount: $13,000,000 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 9/28/24.

By |March 21st, 2023|Funded Investments|0 Comments
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Hillwood Homes at Midway 18, LLC #5713 | UTAH – FUNDED

First Trust Deed collateralized by a 0.96 acre finished lot in Heber City, UT. All of the grading work for the site has been completed and is ready for the foundation to be poured. Construction permits have already been submitted for on the 5,099 square foot home. 2,564 square feet are above grade, and the remaining is part of the large walkout basement. Situated on a hillside, the back of the property overlooks the picturesque Heber Valley. Only a few minutes away from new ski resort, Mayflower, the property is ideally located for future demand. Once construction is about 20% completed, they will list the property for sale in an effort to get is sold while the prospective buyer can still choose their desired finishes. Although it isn’t addressed to us, and should be taken with a grain of salt, an appraisal was done on October 3, 2022, showing an as-completed value of $2,025,000. This would mean a loan-to-value of 65%. Master Loan Amount: $1,320,000 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 extensions at maturity. Final maturity date

By |March 15th, 2023|Funded Investments|0 Comments
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Hillwood Homes at Midway 18, LLC #5704 | UTAH – FUNDED

First Trust Deed collateralized by roughly 5.99 acres of land which will eventually be developed into 18 single family lots. With entitlement completed, the borrower will begin development shortly after acquiring the property. Over the next eight months the borrower should have the land fully developed into the 18-lot community at which point the borrower anticipates being ready for vertical construction (late summer of this year). The 18 quarter to half acre lots will eventually have homes averaging 3,500 square feet built on them. Average sale prices in the community should be around $1,500,000 when the finished homes become available. Master Loan Amount: $6,400,000 Yield: 10.5% 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 extensions at maturity. Final maturity date is 8/4/24. Learn more about this project by listening to this exclusive episode on our podcast:

By |February 8th, 2023|Funded Investments|0 Comments
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Blue Heron Oasi, LLC #5683-#5702 | NEVADA – FUNDED

First Trust Deed collateralized by 20 of the 24 total lots within the Blue Heron developed community know as Oasi. Since acquiring the 13 acres in August of 2021, the borrower has nearly completed all of the horizontal development of the 24-lot community. Additionally, they have three model homes being built and have sold one lot to a buyer who will be contracting with Blue Heron to build a home. Homes in the community will average nearly 6,000 square feet and could sell for nearly $5,000,000. The Blue Heron business model is a bit unique in the home building industry where they will actually sell the finished lot to the home buyer and then contract back with Blue Heron to build a home on the lot. Most homebuilders don’t transfer ownership of the property until after the home is constructed. This structure allows Blue Heron to pay off the land loan (this loan) much sooner in the process and passes on much of the financing costs to the home buyer which increases the builder’s margin. Once the community gate is installed and the model homes are completed, Blue Heron expects to sell about one lot per month Master Loan Amount:

By |February 2nd, 2023|Funded Investments|0 Comments
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Citywide Land & Development, LLC #5673-5680 | TEXAS – FUNDED

First Trust Deed collateralized by eight fully built residential homes in Midland, TX (about 330 miles west of Dallas, TX and 120 miles south of Lubbock, TX). Ranked as one of the fastest growing micro cities in America, there is a need for new housing supply in this area. The borrower is purchasing these eight completed units from Betenbough Homes as an end of year effort to clear inventory of the sellers’ books. The borrower is under contract to purchase (or already closed on) a total of 23 completed homes over a 45-day period at a discounted price. Our borrower will then lease up the properties and sell the rented units to their investors as cash flowing assets. Each home sits on approximately .12 acres of land with homes ranging from 1350 to 2050 square feet in size. The borrower and seller have a long track record of performance which is part of the reason our borrower can get these units at such a discount. Master Loan Amount: $2,110,000 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 no extensions available. Final

By |February 1st, 2023|Funded Investments|0 Comments
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Rhino Holdings Brynwood, LLC #5670 | ILLINOIS – FUNDED

The collateral for this loan is a 121,800 square foot shopping center in Rockford, IL. The ten-acre site is mostly vacant after the anchor grocery store tenant vacated the property in late 2021. The borrower purchased the property at auction in December of 2022 with the property only 11% leased. With a finished replacement cost north of $11,000,000 they knew they were buying a project undervalued with the anticipation of quickly filling the vacant space. Over the past few months since acquiring the site, they have two tenants that will lease 82,000 square feet bringing the vacancy down to 21%. Although no tenants are lined up for the remaining vacant space, a local leasing agent has begun work to find renters. The only national tenant currently occupying the property is Baskin Robbins along with 6 local tenants. Loan Amount: $6,500,000 Yield: 10.5% 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 11%. Term: Nine months with an optional nine-month extension at maturity. Final maturity date is 7/23/24.

By |January 20th, 2023|Funded Investments|0 Comments
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10FSS 3636 Honea Egypt Rd Montgomery, TX, LLC #5642 | TEXAS – FUNDED

The collateral for this loan consists of an approximately 41,866 net rentable square feet self-storage facility in Montgomery, TX. Montgomery TX is about 45 miles from the heart of Houston. Built in 2007, the 270-unit facility sits on a 10-acre site which will allow for an expansion of an additional 30,000 square feet. Immediately after the acquisition, the borrower will implement its unique automated management platform and focus on increasing in-place rents as well as increasing the current occupancy of 90%. Master Loan Amount: $8,000,000 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 a final maturity date of 9/15/23.

By |December 13th, 2022|Funded Investments|0 Comments
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Grays Development Company, Inc #5616-5623 | COLORADO – FUNDED

First Trust Deed collateralized by a 7.5-acre parcel of a residentially zoned property approximately 70 miles south of Denver, CO. Located near the cross streets of Centennial and Fillmore, the property is just nine miles to the south of the Colorado Springs Air Force Academy and under ten minutes from downtown Colorado Springs and Garden of the Gods. The surrounding area is seeing immense residential and commercial growth including national quick service restaurants and over 300 apartment units (being developed by different builders). The entitlement allows for the development and ultimate construction of 105 townhome lots, all of which are under contract to be sold to Lokal Communities. Since July of this year, Lokal has purchased 48 of the units leaving 57 as collateral for this loan. Lokal will continue buying lots every other month until August when the loan should be paid off in full. Master Loan Amount: $5,682,900 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 5/21/24.

By |December 3rd, 2022|Funded Investments|0 Comments
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Ignite Funding, LLC | 6700 Via Austi Parkway, Suite 300, Las Vegas, NV 89119 | P 702.739.9053 | T 877.739.9094 | 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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