FacebookTwitterLinkedInYouTube

Hard Money

EHI Investments 3, LLC #5804 | ARIZONA – FUNDED

The collateral for this loan is 1.63 acres of land in Mesa, AZ which is just East of Phoenix, AZ. Since acquiring the land about a year and a half ago, the borrower worked with the city to get a permitted use of “early education”. Edward Homes, then received approval to construct a 10,095 square foot commercial building that will be leased to The Learning Experience. The Learning Experience started in 1980 in Florida and has since grown to over 275 locations today. With a corporate guarantee and a new 15-year lease in place on a soon to be newly constructed building, it shouldn’t take long to find a buyer. These type of triple net buildings are being sold at extremely low cap rates. Master Loan Amount: $3,650,000 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 two additional nine-month extension periods. Final maturity date is 8/22/25.

By |May 26th, 2023|Funded Investments|0 Comments
Read More

1759 Harpsichord Way, LLC #5802 | NEVADA – FUNDED

1759 Harpsichord Way, LLC is a special purpose entity set up to construct this home. Michael Johnson, the manager of the company, has been building semi-custom homes and renovating high-end homes for nearly a decade. As a licensed general contractor, Michael has the experience and expertise to fix most issues that may arise without having to outsource the work. Loan Amount: $1,200,000 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 11/23/24.

By |May 26th, 2023|Funded Investments|0 Comments
Read More

Prez Enterprises, Inc #5788-#5801 | TEXAS – FUNDED

First Trust Deed collateralized by 14 fully built residential duplex homes in Lubbock, TX (about 340 miles west of Dallas, 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 14 completed units from Betenbough Homes as a bulk transaction since a different buyer fell through. The borrower is under contract to purchase the completed duplexes 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 duplexes to their investors as cash flowing assets. Each home sits on approximately .17 acres of land with units ranging from 1,208 to 1,350 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 third such loan structure we have done with this borrower. Master Loan Amount: $4,760,000 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 extension period. Final

By |May 23rd, 2023|Funded Investments|0 Comments
Read More

Blue Heron Stonewater, LLC #5751-5785 | NEVADA – FUNDED

First Trust Deed collateralized by 35 mostly finished lots near the corner of Southern Highlands Pkwy and Stonewater Ln in Las Vegas, NV (approximately 15 miles south of downtown Las Vegas). Since purchasing the property in December of 2021, the borrower successfully worked with the city to get approval for a 36-lot community which they then developed into mostly finished lots. This loan encumbers 35 of the 36 units in the community with one lot not encumbered which will be the model home. Construction on the model home has already begun and should be completed in the first quarter of 2024. This community is truly an infill parcel as part of the project is a converted parking lot. Homes in the community will average 3,450 square feet and are expected to sell for an average of $1,500,000. Three of the lots have reservations which will turn into contracts after the development work is completed. Contracts for these three units should happen 90 days after closing. Master Loan Amount: $9,036,000 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

By |May 18th, 2023|Funded Investments|0 Comments
Read More

Mosaic Seven, LLC #5746 | 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 borrower 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 ultimate layout of the community in the ensuing months at which point the borrower will sell the property to a local homebuilder. Loan Amount: $2,050,000 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 11/7/24.

By |May 4th, 2023|Funded Investments|0 Comments
Read More

Future Legends 6, LLC #5742 | COLORADO – SOLD OUT

First Trust Deed collateralized by approximately 3 acres of land which will eventually be constructed into a 63,560 square foot retail complex, part of a larger 122 acre facility dedicated to youth and professional sports. The project is over 60% preleased to strong regional tenants with many smaller local tenants making up the currently preleased space. When construction begins in May, it is expected the buildings will be completed in eight months. The borrower has a current max guaranteed price contract in place with a regionally strong contractor specializing in the construction of mixed-use development surrounding stadiums. The contract has Ignite Funding written in it so we can take over the contract to ensure the completion of the project in the unlikely event the borrower goes into default. Additionally, all future money that is needed to pay the contractor is allocated in the total loan proceeds of this loan. There is anticipated to be over one million visitors to this project by year two, which will bring a tremendous amount of foot traffic to the area. Master Loan Amount: $18,000,000 Yield: 11% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day

By |May 3rd, 2023|Funded Investments|0 Comments
Read More

Elm Meadows Addition, LLC #5735 | TEXAS – ($400K Available)

First Trust Deed collateralized by entitled land in Lubbock, TX. Since purchasing the property in 2022, they worked with local government officials to get approval of a 122-unit development. The 122 units average 0.15 acres in size and will eventually have homes averaging 1,200 square feet with three bedrooms and two bathrooms. The loan will encumber units as they begin construction with all remaining construction costs allocated through the funding of this entire loan. Upon completion of the homes, they will be rented and held onto by the borrower as a built-to-rent community which will operate much like an apartment complex. There will be an onsite property manager and maintenance specifically dedicated to this community. With average monthly rents of nearly $1,700 per unit, the property generates enough excess cashflow to qualify for traditional takeout financing when completed. There will be six different floor plans in the community, all of which have already been approved by the city for construction. The average build cycle is expected to be four months from start to finish for each home. Master Loan Amount: $18,910,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a

By |April 20th, 2023|Available Investments|0 Comments
Read More

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
Read More

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
Read More

Gilbert Care, LLC #5711 | ARIZONA – FUNDED

The collateral for this loan is an approximately 14.39-acre site that will be entitled to allow for the construction of medical facilities. On the large three-acre parcel shown in the picture above, the borrower intends to build a 48-bed behavior health facility which is their expertise. With the remaining 11 acres the borrower will look for built-to-suit medical tenants or sell the land off to medical developers. The project sits less than 400 yards from the entrance to the 212 bed Mercy Gilbert Medical Center which opened in 2006. The borrower is currently has a letter of intent with a potential buyer of what will be the behavior health facility. This is the same buyer that has already purchased another behavior health facility from the borrower in 2022. On the remaining 11.39 acres of land, the borrower has not begun finding potential suiters since they believe higher values will be generated after construction is nearing completion. Master Loan Amount: $20,000,000 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 two additional nine month extension periods. Final maturity date is 6/27/25.

By |March 15th, 2023|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