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Hard Money

    17th and Sheridan, LLC #5976 | COLORADO – FUNDED

    First Trust Deed collateralized by a parcel of land on the Southeast corner of 17th Ave and Sheridan Blvd in Denver, CO. This site is directly across the street from Sloan’s Lake, the second largest park in Denver and one of Denver’s fastest growing neighborhoods. The site allows for a high-density residential redevelopment project. The city has already approved a 67-unit garden style for sale, stacked flat product (an artist’s rendering is shown in the picture above). Although this loan is just to refinance the acquisition of the project and to complete the development work, the total project cost will be nearly $16,000,000. Over the coming months, the borrower will work with subcontractors to finish the site development work in an effort to get the project ready for vertical construction. It is anticipated the borrower will be able to pay off this loan with construction financing in about six months. Master Loan Amount: $6,500,000 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

    By |September 6th, 2023|Funded Investments|Comments Off on 17th and Sheridan, LLC #5976 | COLORADO – FUNDED
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      Prez Enterprises, Inc #5955-#5970 | TEXAS – FUNDED

      First Trust Deed collateralized by 16 fully built residential homes in Wolfforth, TX (about 12 miles southwest of Lubbock, TX). Consistently ranked in the fastest growing markets in Texas, there is a need for new housing supply in this area. The borrower is purchasing these 16 completed units from Betenbough Homes as a bulk transaction since a different buyer fell through. The borrower is under contract to purchase the completed homes at a discounted price given the longstanding relationship between the borrower and builder. Our borrower will then lease up the properties and sell the rented properties to their investors as cash flowing assets. Each home sits on approximately .17 acres of land with units ranging from 2,446 to 2,700 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. This is the fourth such loan structure that we have done with this borrower. Master Loan Amount: $5,352,000 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

      By |September 6th, 2023|Funded Investments|Comments Off on Prez Enterprises, Inc #5955-#5970 | TEXAS – FUNDED
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        Future Legends, LLC #5952 | COLORADO – FUNDED

        First Trust Deed collateralized by roughly 100 acres of land which will eventually be developed into a youth sports facility, surrounding a professional baseball stadium. The overall complex will combine all elements needed for a successful youth sports faculty including restaurants, fields, hotels, retail, dormitories, and other amenities. The site is located about two miles east of downtown Windsor (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. This vision is being manifested into the Future Legends Complex which will consist of 12 soccer fields, 10 baseball diamonds, a 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, dorms, future hotel parcels, and the 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. It is anticipated that the collateral for this loan will be fully developed within three months of this loan closing. Loan

        By |August 18th, 2023|Funded Investments|Comments Off on Future Legends, LLC #5952 | COLORADO – FUNDED
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          Prez Enterprises, Inc #5939-#5950 | TEXAS – FUNDED

          First Trust Deed collateralized by 12 fully built residential homes in Wolfforth, TX (about 12 miles southwest of Lubbock, TX). Consistently ranked in the fastest growing markets in Texas, there is a need for new housing supply in this area. The borrower is purchasing these 12 completed units from Betenbough Homes as a bulk transaction since a different buyer fell through. The borrower is under contract to purchase the completed homes at a discounted price given the longstanding relationship between the borrower and builder. Our borrower will then lease up the properties and sell the rented properties to their investors as cash flowing assets. Each home sits on approximately .17 acres of land with units ranging from 2,446 to 2,700 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. This is the fourth such loan structure we have done with this borrower. Master Loan Amount: $3,991,000 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

          By |August 15th, 2023|Funded Investments|Comments Off on Prez Enterprises, Inc #5939-#5950 | TEXAS – FUNDED
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            Rhino Holdings Clackamas, LLC #5934 | OREGON – FUNDED

            The collateral for this loan is an approximately 121,137 square foot building that is part of the Clackamas Town Center in Happy Valley, OR (approximately 10 miles southeast of downtown Portland, OR). The site is 7.49 acres and is one of the largest buildings that is part of the Clackamas Town Center which is second most visited shopping center in Oregon with 9.4 million annual visitors in 2020.Located in Happy Valley, the second wealthiest city in Oregon, is known as “a gem with a great name.” This building was once home to Nordstrom but has been vacant for nearly three years. The borrower is in negotiations with one of the world’s largest indoor “fun parks” to occupy the entire facility. The prospective tenant has over ten locations spread across the America’s. Loan proceeds will be used to acquire the site, pay leasing companies, permits, deferred capital improvements, tenant improvements, and carrying costs. Loan Amount: $14,000,000 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 2/9/25.

            By |August 2nd, 2023|Funded Investments|Comments Off on Rhino Holdings Clackamas, LLC #5934 | OREGON – FUNDED
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              Forever Home, LLC #5900 | IDAHO – FUNDED

              The collateral for this first position trust deed is a nearly 1.25-acre property with a 4,150 square foot home on it. This six bedroom, four and a half bathroom custom home was built in 1977 in the Aspen Grove Subdivision, an idyllic community situated in Meridian, ID which is about 13 miles West of Boise, ID. Over the past year nearly the entire home has been updated with new and modern fixtures. Loan Amount: $800,000 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 4/27/24.

              By |July 25th, 2023|Funded Investments|Comments Off on Forever Home, LLC #5900 | IDAHO – FUNDED
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                Grays Development Company, Inc #5902-#5914 – FUNDED

                The collateral for this loan consists of the remaining 128 finished lots in this 204-community located in Colorado Springs, CO (approximately 61 miles south of Denver, CO). These 204 lots are part of a larger 800 lot community known as Victory Ridge which the borrower originally acquired portions of about six years ago. 56 of the remaining lots are standard rowhome lots while 72 are “back-to-back” lots which enables greater density and affordability within the community. The average sales price of the finished project in 2023 has been nearly $480,000 with the average size of the units has been over 1,500 square feet. Master Loan Amount: $11,995,200 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 two optional nine-month extensions at maturity. Final maturity date is 10/24/25.

                By |July 18th, 2023|Funded Investments|Comments Off on Grays Development Company, Inc #5902-#5914 – FUNDED
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                  Harmony Homes Nevada, LLC #5884-#5894 | NEVADA – FUNDED

                  First Trust Deed collateralized by roughly 7.18 acres of residentially zoned land near the corner of Azure and N 5th St in Las Vegas, NV (roughly eight miles north of downtown Las Vegas). The land is currently zoned as a Planned Unit Development since the previous owners have gone through many different iterations with the local municipalities to get zoning approvals. The borrower is currently working with the city to approve a 108-unit community. All 108 units are expected to be in the form of 36 triplex buildings. This tentative map approval for the 108-unit community will happen shortly after the funding of this loan. In a month, the borrower will begin the development work on the land which is expected to cost nearly $5,000,000. The first home will not be made available for approximately one year. With plans ranging from 1100 -1500 square feet and price points starting in the low $300,000’s, these townhomes will help fill the demand for the entry level buyer. Master Loan Amount: $3,250,800 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

                  By |July 12th, 2023|Funded Investments|Comments Off on Harmony Homes Nevada, LLC #5884-#5894 | NEVADA – FUNDED
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                    Encanto Partners QOF, LLC #5877 | ARIZONA – FUNDED

                    The collateral for this first position trust deed is a 15-acre site that is approved for medium density residential within a qualified opportunity zone (QOZ). Since putting the property under contract nearly a year ago, the borrower worked with the city to get additional zoning changes permitted and to get the property one step closer to being “shovel ready”. The property will eventually consist of 250 apartment style units in the form of townhomes as well as traditional stacked apartments. Given the location is in a QOZ, securing equity partners once the property is shovel ready should be easier than the 2,000 plus units the borrower has previously secured equity for. Loan Amount: $7,000,000 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 1/5/25.

                    By |June 28th, 2023|Funded Investments|Comments Off on Encanto Partners QOF, LLC #5877 | ARIZONA – FUNDED
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                      Grays Development Company, Inc #5869-5876 | COLORADO – FUNDED

                      First Trust Deed collateralized by 67 finished residential lots. Located between downtown Denver and the tech center in a prime urban location, these are the remaining lots within an active community. The lots are all under contract to be sold to the active builder on a rolling takedown basis starting in August. These attached units are three stories tall and range from 1,238 to 2,157 square feet. They all have attached two car garages with up to four bedrooms. Prices range from the high 500’s to the high 700’s. The last takedown is anticipated to happen in November of 2024. Master Loan Amount: $6,968,000 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 12/27/24.

                      By |June 28th, 2023|Funded Investments|Comments Off on Grays Development Company, Inc #5869-5876 | 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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