FacebookTwitterLinkedInYouTube

Hard Money

Dixie Highway Storage, LLC #5151 | FLORIDA – FUNDED

First Trust Deed collateralized by a 1.37-acre parcel of land in North Miami Beach Florida which is a suburb of Miami and approximately 17 miles north of downtown Miami, FL. The property is fully entitled with zoning and site plans in place for a 7- story, 163,660 SF Self-Storage Facility with 1,081 climate-controlled storage units. The site is in an Opportunity Zone in a densely populated area surrounded by several major new developments (see page two for a proximity map). Due to the fact the property is located within an opportunity zone, there are some tremendous tax advantages available to the borrower if they hold the property for at least 10 years which they plan to do. This is one of four properties the borrower is currently in escrow to purchase in Florida. Given the influx of residence and the state’s pro-business mindset, the borrower believes it is an area primed for long term growth. Loan Amount: $4,500,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: 9 months with an optional nine-month extension period at maturity.

By |July 22nd, 2021|Funded Investments|0 Comments
Read More

Hurry It Up We Are Burning Daylight, LLC #5150 | NEVADA – FUNDED

The collateral for this loan is 1.88 acres of land located in Sandy Valley, NV which is about 34 miles southeast of the M Resort (the south point of the Las Vegas Strip). Since acquiring the property in June of 2020, the borrower has worked with the city to allow for the construction of a 10,500 square foot building. The property is 100% preleased to Family Dollar which is a wholly owned subsidiary of Dollar Tree and has been in operations for over 60 years and currently has over 15,000 stores and 250,000 employees. This is one of 600 planned new stores this year for Dollar Tree. Construction will begin immediately following the funding of this loan and is expected to be completed in seven months. Loan Amount: $898,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) 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 ninemonth extensions at maturity.

By |July 21st, 2021|Funded Investments|0 Comments
Read More

Dragonstone, LLC #5149 | NEVADA – FUNDED

First Trust Deed collateralized by a finished .67-acre residential lot located in the prestigious master plan community of McDonald Highlands in Henderson, Nevada. Since acquiring the property about two years ago, the borrower has been working with the city and master plan developer to get approval of a lot split. It is anticipated that the final lot split will be recorded by December which will allow the borrower to sell the lots individually. Each of the two proposed lots will have unobstructed views of the Las Vegas valley, including the infamous Las Vegas strip. Additionally, it is anticipated that land will be added to this lot from the masterplan builder to make each of the two proposed lots a half acre each. Loan Amount: $1,350,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1 st of each month with a 10-day grace period. Term: 9 months with one optional 9-month extension period at maturity.

By |July 19th, 2021|Funded Investments|0 Comments
Read More

Rhino Holdings Manitowoc, LLC #5148 | WISCONSIN – FUNDED

First Trust Deed collateralized by an approximately 87,000 square foot former Shopko store in Manitowoc, WI (about 80 miles north of Milwaukee, WI). Although the property is currently vacant, the borrower has a lease ready to be signed with a national retailer to occupy about 20% of the property. Once the new tenant is signed up (shortly after acquiring the property), the borrower will begin the renovation work on the property the tenant has requested. With the remaining unoccupied space, the borrower will hire a local leasing agent to get the space filled. Additionally, the borrower will get the remaining space into a position where only minimal tenant improvements will need to be completed prior to occupancy. Loan Amount: $3,200,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) 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 optional nine-month extension periods at maturity

By |July 14th, 2021|Funded Investments|0 Comments
Read More

Sargem Management, LLC #5139-5145 | NEVADA – FUNDED

First Trust Deed collateralized by just over 18 acres of land in North Las Vegas, NV. Although the property is currently a level piece of dirt, it had a vibrant past. The property was home to apartments beginning in the early 1960’s and transitioned into low-income housing in the 80’s. As time went on, the property became very rundown, and riddled with crime. After the Department of Housing and Urban Development foreclosed on the previous owner during the financial crisis of 2008, the borrower began working with HUD and the city of North Las Vegas to plan what will eventually become a key piece to the city. The borrower formally acquired the property in October of last year for over $3,000,000 and will formally obtain city approval for an eightbuilding medical complex on 7/21/21. The borrower will then construct and sell each of the buildings once completed which is anticipated to begin in about a year Loan Type: This Master Loan will be sold in tranches, giving investors the opportunity to invest in one or more lots in the complex. Master Loan Amount: $2,600,00 Tranche Loan Amount: Ranging between $121,000 and $604,000 Yield: 10.00% Interest is paid monthly in arrears

By |July 7th, 2021|Funded Investments|0 Comments
Read More

Ten15 Craig Tenaya, LLC #5075 | NEVADA – FUNDED

The collateral for this loan is 0.95 acres of land located near the corner of Craig Road and US-95 which is about 9 miles northwest of downtown Las Vegas, NV. Since acquiring the property in March of 2016, the borrower has worked with the city to allow for the construction of a 4,039 square foot drive thru outparcel. Additionally, work began on the vertical construction back in February of this year and they are currently 50% complete. The picture above was taken of the site in late April as work continues to progress. The property is 100% preleased to Bonanno’s New York Pizzeria and Plant Power Fast Food. This will be Bonanno’s fifth location in Las Vegas and Plant Power’s eighth location but the first in Las Vegas. Construction will continue on the project and is expected to be completed in August of this year. Loan Amount: $2,650,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) 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 optional nine-month extensions at maturity.

By |May 6th, 2021|Funded Investments|0 Comments
Read More

Mosaic Seven, LLC #5071 | NEVADA – FUNDED

The properties consist of 7.5 acres of land which was purchased by the borrower in 2016 from the Bureau of Land Management. Since that time, the borrow has gone through many different rounds of negotiations with the county over land use to get the property rezoned. The property has a rural subdivision approval which allows for the development of 13 homes. It is anticipated that the property will receive the final map approval within the next few months at which point the borrower will sell the property to a local homebuilder. The borrower will also paydown $500,000 of the loan amount after the property with APN ending in -009 is refinanced. Master Loan Amount: $2,450,000 Tranche Loan Amount: $1,950,000 for tranche 5072 and $500,000 for tranche 5073 Yield: 10.0% 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.

By |April 30th, 2021|Funded Investments|0 Comments
Read More

The Herbert, LLC #4814 | NEVADA – FUNDED

The collateral for this loan is 0.32 acres of land located in the heart of the Art’s District of Las Vegas (an area within downtown Las Vegas). Since acquiring the property in November of 2019, the borrower has worked with the city to allow for the construction of a two story, 9,189 square foot mixed-use building in this trendy part of town. As of this writing, the building is 60% completed and should be fully completed by the end of January 2021. The property is approximately 30% preleased and the borrower is working on LOI’s for another 20% of the project. The tenant mix will include one restaurant (a preleased tenant) and small executive suit style offices to accommodate businesses who do not need very much space (typically around 1,000 square feet per lease). Loan Amount: $2,250,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) 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.

By |November 10th, 2020|Funded Investments|0 Comments
Read More

Delta Quad Holdings, LLC #4812 | Missouri – FUNDED

The collateral for this loan is a 1.92-acre site that has a 21 story, 371,454 square foot building on it. Located in the heart of Kansas City, Missouri, the building which was originally constructed in 1921 as the headquarters of one of the twelve regional Federal Reserve Banks but has been vacant since 2008 when the bank moved to new offices. Since acquiring the property, the borrower has worked within the guidelines established for rehabilitating historic buildings. By working within the guidelines, there are some federal tax credits that the borrower will be able to obtain. Additionally, they have continued to work on the asbestos remediation on the property which is anticipated to be completed in a few months. According to the borrower, over $37,000,000 has been spent on the project to date. Loan Amount: $6,500,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) 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.

By |November 2nd, 2020|Funded Investments|0 Comments
Read More

Sequoia Homes, LLC #4810 | Nevada – FUNDED

The collateral for this loan is an .98-acre lot located in the Northwestern part of Las Vegas (approximately 18 miles northwest of downtown Las Vegas, NV). Since acquiring the property in July of this year, they have worked with the city and county to allow for the construction of a home on the site. The building plans call for a 4,139 square foot home to be constructed. The home will consist of four bedrooms and four and a half bathrooms. The square footage does not include the four-car attached garage. Although the property is not presold, the borrower will engage a brokerage company to market the property for sale once the construction begins. Loan Amount: $680,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) 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. Value: $1,240,000 based on a BPO done by Mosaic Commercial Advisors on 10/29/2020. LTV: 55% based off the BPO shown above.

By |October 30th, 2020|Funded Investments|0 Comments
Read More
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.
FacebookTwitterLinkedInYouTube
loading