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first trust deeds

    Chicks Dig Scars, LLC #5565 | NEVADA – FUNDED

    The collateral for this loan is a 1.13 acre parcel of land located in the “Arts District” of Las Vegas, Nevada. The Arts District has seen an enormous amount of revitalization after large capital infusions in the area have completely changed the overall dynamics. The 32,000 square foot building was originally constructed in the 1950’s for Mission Linen Supply company which provided uniforms for the casinos throughout the 20th century. The plan of the borrower is to preserve the historical aesthetic of the building by bringing in three synergistic tenants to the area. Half of the space will be occupied by the Evel Knievel Museum which will become the flagship Evel Knievel experience and museum. The other half of the property will be occupied by a pizza tenant and a café. Over the next 12 months, the borrower anticipates spending nearly $10M prior to closing on a construction loan. Total project costs re expected to be $19.2M. Loan Amount: $4,950,000 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

    By |September 13th, 2022|Funded Investments|Comments Off on Chicks Dig Scars, LLC #5565 | NEVADA – FUNDED
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      Rhino Holdings Coldwater, LLC #5557 | MICHIGAN – FUNDED

      First Trust Deed collateralized by roughly 11 acres of commercially zoned land in Coldwater Michigan which is midway between Chicago and Detroit. Since purchasing the property in 2019, the borrower has successfully reduced the vacancy by signing Harbor Freight to a long-term lease. Harbor Freight had their grand opening on 8/13/22. Additionally, the borrower is working with another national retailer to increase the overall occupancy to 85%. Once that lease is signed, the borrower will begin to advertise the property for sale. Loan Amount: $3,000,000 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 an optional nine-month extension at maturity. Final maturity date is 2/13/24.

      By |August 23rd, 2022|Funded Investments|Comments Off on Rhino Holdings Coldwater, LLC #5557 | MICHIGAN – FUNDED
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        Gold Rose Group, LLC #5554 | NEVADA – FUNDED

        The collateral for this loan is a 9,000 square foot custom estate located in Las Vegas, NV. Built in 2001, the “Castle” is a one -of-a-kind property consisting of six bedrooms, nine bathrooms, on 2.24 acres of land. Some of the many features of this French style chateau include, two kitchen islands, seven car garage, hardwood floors, cathedral ceilings, solar field, media room, home gym and a resort style pool. Since acquiring the home and the corresponding land in 2020, the borrower subdivided the “excess” two acres of land into four high end semi-custom homes. All four homes have been built and sold. The borrower recently listed the property for sell for $4,200,000 and expects to have it sold in the coming months. Loan Amount: $2,925,000 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 an optional nine-month extension at maturity. Final maturity date is 2/3/24.

        By |August 11th, 2022|Funded Investments|Comments Off on Gold Rose Group, LLC #5554 | NEVADA – FUNDED
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          Mosaic Seven, LLC #5549 | 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 a multifamily development as part of the entire planned unit development in addition to this property, 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 should be willing to support both residential as well as industrial developments around this area giving the borrower some flexibility with potential uses. Loan Amount: $3,258,000 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 2/23/24.

          By |August 10th, 2022|Funded Investments|Comments Off on Mosaic Seven, LLC #5549 | NEVADA – FUNDED
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            Mosaic Seven, LLC #5545 | NEVADA – FUNDED

            The collateral for this loan are two, two and a half-acre parcels 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 only part of the property is zoned for rural open land, the borrower intends 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 have shown a willingness to support both residential and industrial developments. Loan Amount: $3,725,000 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 4/19/24.

            By |July 19th, 2022|Funded Investments|Comments Off on Mosaic Seven, LLC #5545 | NEVADA – FUNDED
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              Grays Development Company, Inc #5533-5539 | COLORADO – FUNDED

              The collateral for this loan consists of 13.7 partially developed acres of land located in Colorado Springs, CO (approximately 61 miles south of Denver, CO). These 13.7 acres will be developed into 229 residential units consisting of five-20 unit condo buildings, four-10 unit condo buildings, and 89 single family residences. The 229 total units are part of a larger 800 lot community know as Victory Ridge which the borrower originally acquired about five years ago. The townhomes will average 1,500 square feet in size with an anticipated sales price averaging over $500,000. This is the fourth and final takedown the borrower has elected to take from the seller. Lokal Homes, the home builder of this project, is averaging six sales per month since sales began four years ago Master Loan Amount: $22,581,000 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 4/9/24.

              By |July 15th, 2022|Funded Investments|Comments Off on Grays Development Company, Inc #5533-5539 | COLORADO – FUNDED
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                WCI Obsidian Venture, LLC #5531 | NEVADA – FUNDED

                First Trust Deed collateralized by 33 acres of residentially zoned land nestled between MacDonald Highlands and Ascaya, two of the premier master planned communities in Southern Nevada. The land was purchased by the borrower in 2020 from an affiliated company of the group that is about to put the property back under contract. Blue Heron is expected to finalize a takedown agreement with the borrower for the purchase of the lots once there are developed. The borrower intends to develop the lots when the final city approval is granted in the coming months (conditional preliminary approval has already been granted). Once Blue Heron finds a buyer for the lot, it will be purchased directly from our borrower and then Blue Heron will build the customer a home on the purchased lot. Loan Amount: $5,700,000 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 no additional extensions available. Final maturity date is 4/6/23.

                By |July 11th, 2022|Funded Investments|Comments Off on WCI Obsidian Venture, LLC #5531 | NEVADA – FUNDED
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                  Vanquish Capital, LLC #5530 | ARIZONA – FUNDED

                  The collateral for this first position trust deed is 3.3-acre site that was conditionally approved on 5/4/22 for the construction of a 72-unit townhome project which is laid out on the next page. Since putting the property under contract nearly 14 months ago, not only has the borrower “added value” by locking in their purchase price in a rapidly improving real estate market, but they have also added value by reducing risk in the project by getting the property mostly entitled. Typically, FIG would sell each of the units to individual investors but have found one investor that wants the entire project. With that said, once the building permits are ready to be issued, the investor will close on the sale of the property and purchase it from FIG in one transaction. In the unlikely event the buyer falls out of contract, FIG’s regular investors will acquire individual buildings. Loan Amount: $1,700,000 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 extension at maturity. Final maturity date is 1/6/24.

                  By |July 5th, 2022|Funded Investments|Comments Off on Vanquish Capital, LLC #5530 | ARIZONA – FUNDED
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                    Citywide Land & Development, LLC #5517-5519 | TEXAS – FUNDED

                    First Trust Deed collateralized by ten fully developed residential lots in Odessa, TX (about 350 miles west of Dallas, TX and 140 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 on the loan is acquiring the 10 approximately 0.13 acre lots and has a contractor building each of the units. Each of the 10 units average 1,820 square feet and are three bedrooms with two bathrooms. It is the current intent of the borrower to lease up the units and then sell them to their investors Master 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. Term: Nine months with an optional nine-month extension at maturity. Final maturity date is 12/13/23

                    By |July 5th, 2022|Funded Investments|Comments Off on Citywide Land & Development, LLC #5517-5519 | TEXAS – FUNDED
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                      Future Legends, LLC #5524 | COLORADO – FUNDED

                      Second Trust Deed collateralized by roughly 100 acres of land which will eventually be developed into a youth sports facility, surrounding a professional baseball stadium. This property is located about two miles east of downtown Windsor, CO (60 miles north of Denver, CO). After purchasing the Orem Owlz’ minor league baseball team in 2004, the borrower envisioned developing a youth sports complex integrated into a minor league baseball facility. His vision is being manifested through the Future Legends Complex which will consist of 12 soccer fields, 10 baseball diamonds, 1 64-team dorm, with retail shops and hotels surrounding the complex. This loan will encumber everything owned by the borrower in the area excluding the stadium and retail area which already has bank financing in place or in process. The 100 collateralized acres will continue to be developed by the borrower using the financing from this loan and additional money from the borrower. Loan Amount: $3,600,000 Yield: 13% 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 12/24/23

                      By |June 28th, 2022|Funded Investments|Comments Off on Future Legends, LLC #5524 | COLORADO – 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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