Hard Money Archives - Ignite Funding

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Hillwood Homes at Midway 18, LLC #6284 | UTAH – ($900K Available)

Hillwood Homes at Midway 18, LLC #6284 | UTAH – ($900K Available)

First Trust Deed collateralized by three finished lots in the Bonner Meadows community of Midway, Utah. Two of the three lots, 11 and 16, have been presold and the last lot (lot 1) is a spec home. The floor plan for lot 1 is Zurich with 4,584 sq/ft, lot 11 is Lucerne with 4,147 sq/ft, lot 16 is Rhine with 4,970 sq/ft and foundations are ready to be poured. Bonner Meadows is the newest luxury community by premier builder Hillwood Homes. There are 18 lots with 8 semi-custom layouts to choose from. Midway is an affluent suburb of Salt Lake City with Swiss influence and geographic similarities. They even host an annual Swiss Day parade, celebrating Alpine heritage. Bonner Meadows is in the heart of the city, just south of Main Street. It is 7 minutes away from the Provo River where you can fly fish for rainbow trout year-round. Master Loan Amount: $3,000,000 Term: Nine months with an optional nine-month extension at maturity. The final maturity date is 12/22/25. 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

By Izzy|July 12th, 2024|Available Investments|0 Comments

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Grays Development Company, Inc #6288 | COLORADO – ($700K Available)

Grays Development Company, Inc #6288 | COLORADO – ($700K Available)

The collateral for this loan consists of 68 residential housing lots averaging a quarter acre in size, located in Monument, Colorado (approximately 20 minutes north of Colorado Springs, CO). Grays will use these lots to build ranch-style and two-story homes ranging from 3 to 6 bedrooms and 1,875 and 3,083 sq. ft. This quaint neighborhood is conveniently located near the I-25, creating a convenient commute to the Air Force Academy, Colorado Springs, and the Denver Tech Center. It borders Pike National Forest to the west as well as fishing, kayaking, and paddle boarding at Palmer Lake nearby. Other notable nearby places are Garden of The Gods, Seven Falls, Old Colorado City, Red Rock Canyon, and The Olympic Training Center and museum. Master Loan Amount: $13,940,000 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 1/8/26.

By Izzy|July 2nd, 2024|Available Investments|0 Comments

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Skyrim Development, LLC #6257 | UTAH – ($1M Available)

Skyrim Development, LLC #6257 | UTAH – ($1M Available)

The collateral for this loan is approximately 38 acres of land in Hurricane, UT which is approximately 140 miles northeast of Las Vegas, NV. Since acquiring the site, they have successfully worked with the city to get a preliminary plat and site plan approved. The site will ultimately consist of 15 single family detached lots, 132 attached townhome lots, 372 apartment units, and over 66,000 square feet of commercial space. The borrower will develop the entire project and sell off different sections to developers who will construct those specific aspects of the project. Two of the five “super pads” (the sections of the property designated for specific uses) have LOIs to purchase the property within 90 days of being developed. Development is anticipated to start within a week of funding the initial tranche of this loan and should be completed in approximately nine months. Master Loan Amount: $10,300,000 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 period. The final maturity date is 12/1/25.

By Izzy|June 11th, 2024|Available Investments|0 Comments

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Rhino Holdings Aurora, LLC #6264 | ILLINOIS – FUNDED

Rhino Holdings Aurora, LLC #6264 | ILLINOIS – FUNDED

: First position loan collateralized by part of a retail shopping center in North Aurora, Illinois (about 40 miles west of downtown Chicago, IL). Since acquiring the 120,000 square foot property in 2021, the borrower worked with existing tenants to sign new, long-term leases while simultaneously leasing up the vacancies within the project. Additionally, the borrower updated much of the property to prepare individual parts of the project for sale. The collateral for this loan is the UFC Gym space shown below. The tenant has been removed from the property as the borrower is getting ready to sign a new lease for another fitness user who is willing to pay more in rent. Once the tenant is operating and paying rent, the property will be able to be sold or refinanced. In total, the center is occupied by national tenants like Target, JC Penny’s, Michaels, Petco, Sally’s Beauty, Dollar Tree, and Bath & Body Works. Most of the existing tenants in the shopping center have been leasing the property for over 10 years. Loan Amount: $7,900,000 Yield: Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *6% is paid

By Izzy|May 23rd, 2024|Funded Investments|0 Comments

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Elegance Russell, LLC #6260 | NEVADA – FUNDED

Elegance Russell, LLC #6260 | NEVADA – FUNDED

This first trust deed is collateralized by 11.15 acres of land located about 11 miles southeast of downtown Las Vegas, NV. Since getting the up zoning approved, the borrower will continue to work with the city to get approval on their proposed tentative plat map. Right now, part of the project is zoned RM32 for multi-family residential. The other part of the project is zoned for general commercial purposes. The borrower intends to develop a 240-unit age restricted community where only people over the age of 55 will be allowed to live. The borrower currently owns and or manages over 5,000 rental units in and around Las Vegas, so they have a tremendous amount of experience in the field. As it currently stands, the project is nearly shovel ready and will be listed for sale shortly. Loan Amount: $4,100,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: Nine months with an optional nine-month extension at maturity. Final maturity date is 11/14/25. *For investments equal to or greater than $100,000 investors will earn 10.5%.

By Izzy|May 15th, 2024|Funded Investments|0 Comments

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Chicks Dig Scars, LLC #6208 | NEVADA – FUNDED

Chicks Dig Scars, LLC #6208 | 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 are expected to be $19.5M. A small portion of the 1.13 acres will be released from this collateral once a parcel split has been completed. This will result in no money coming back to the investors, but the BPO shown herein already takes that into account. Loan Amount:

By Izzy|March 12th, 2024|Funded Investments|0 Comments

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Rhino Holdings Nampa, LLC #6203 | IDAHO – FUNDED

Rhino Holdings Nampa, LLC #6203 | IDAHO – FUNDED

The collateral for this loan is an approximately 107,000 square foot building that is part of the District 208 Shopping Center, formally known as the Karcher Mall in Nampa, ID (approximately 22 miles west of downtown Boise, ID). Since acquiring the nearly 400,000 square foot indoor mall back in 2019, this space is the last piece of the puzzle that remains. The borrower demolished about 25% of the entire mall, added a few outparcels, and is turning the excess parking in the back of the shopping center into apartment buildings. While the apartments are not part of this collateral, the completion of them is paramount to getting this last parcel leased. Now that the apartments are almost complete, a tenant has signed a new lease. The new lease will commence after the apartments and tenant improvements have been completed. This completion is anticipated to be in August of this year. The tenant is a discount store and warehouse based in Pennsylvania who currently has nearly 20 locations. Loan Amount: $8,900,000 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

By Izzy|March 4th, 2024|Funded Investments|0 Comments

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Three Palms, LLC #6164 | NEVADA – FUNDED

Three Palms, LLC #6164 | NEVADA – FUNDED

The collateral for this loan is a 0.28 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 the middle of 2023 for $1,100,000 and since that time the borrower has been approved to build a custom home working with the city and HOA to get it done. The home will be about 7,168 square feet with an asking sales price north of $8,000,000. This would be the fifth such home the borrower has built in the same community over the past few years. Loan Amount: $3,100,000 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 7/31/25.

By Izzy|February 12th, 2024|Funded Investments|0 Comments

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Rhino Holdings Summit, LLC #6165 | NEVADA – FUNDED

Rhino Holdings Summit, LLC #6165 | NEVADA – FUNDED

The collateral for this loan is part of an approximately 600,000 square foot shopping center known as The Summit Shopping Center in Reno, NV. The specific collateral for this loan is a 20,342 square foot parcel that will have a 2,332 square foot building constructed. The single tenant building is 100% preleased to a national Mexican quick serve restaurant that anticipates opening in July. The property sits off interstate 580 which has over 50,000 cars passing it per day, giving the shopping center great visibility and access. The tenant has signed a new 10-year lease with four five-year options to extend. The tenant is responsible for all costs except the roof and structure which are the landlord’s responsibility with makes this a true triple net lease. Loan Amount: $2,628,000 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. Final maturity date is 10/29/2024

By Izzy|February 1st, 2024|Funded Investments|0 Comments

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

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 Izzy|January 16th, 2024|Funded Investments|0 Comments