Ignite Funding Archives - Page 11 of 22

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Future Legends, LLC #5355 | COLORADO – FUNDED

Future Legends, LLC #5355 | 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. 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 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. Master Loan Amount: $11,000,000 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

By Izzy|February 14th, 2022|Funded Investments|0 Comments

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Midway Heritage Development, LLC #5352 | UTAH – FUNDED

Midway Heritage Development, LLC #5352 | UTAH – FUNDED

First Trust Deed collateralized by roughly 24.9 acres of farmland which will eventually be developed into 143 townhome and cottage sized lots as well as a few commercial pads. This is the next phase of the successful Whitaker Farms project the borrower completed a year ago. Although the tentative map has not been approved, part of the site is already zoned to allow higher density townhomes. Over the next six months, the borrower will continue to work with the city to get a masterplan approved for the entire site that will eventually turn into a phased development. The future fundings of this loan will go towards the approval of the final map of the project. Of the 148 approved paper lots this loan is for, there is money allocated for the development of the first 59 buildable lots. Of the first 59 buildable lots, money is allocated for the construction of the first 12 townhome units. In total, this loan will have 84 paper lots, 47 finished lots, and 12 finished townhomes. As of today, it is not anticipated for the development work to begin until July of 2022. Additionally, the borrower already has over 30 reservations for the townhomes

By Izzy|January 26th, 2022|Funded Investments|0 Comments

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Jump Acres, LLC #5343 | MONTANA – FUNDED

Jump Acres, LLC #5343 | MONTANA – FUNDED

The collateral for this loan consists of an approximately 2-acre parcel of land which is currently zoned B-2 giving the borrower options for many business uses such as manufacturing, residential and multifamily. It is the intent of the borrower to get final approval for an eight building, 32-unit, residential development. Each of the eight buildings would be fourplexes to allow for a multitude of takeout financing options. Half of the units would be two bed, two bath units with rental rates averaging $1,500 per unit. The other half of the units would be three beds, two bath units with rental rates averaging $1,850 per unit. With an extremely strong rental demand in the area, it is anticipated all the units would be absorbed by the market within one month of completion. The fourplex configuration gives the borrower options of selling individual buildings or refinancing the whole project as an investment. Master Loan Amount: $6,100,000 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 7/19/23.

By Izzy|January 26th, 2022|Funded Investments|0 Comments

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FIG Torrey Ranch, LLC #5339 | UTAH – FUNDED

FIG Torrey Ranch, LLC #5339 | UTAH – FUNDED

The collateral for this first position trust deed is 15 acres of a 25-acre master planned community that will be known as Modera Village. This is the borrower’s second of three purchases from the seller that will ultimately house Modera Village, a 700 plus unit “stacked townhome” community. The community will have 23 four story, 28 and 42 plex buildings with dog parks, playgrounds, a basketball court, club houses, and pools. Loan Amount: $4,000,000 Yield: 12% 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 12.5%. Term: Nine months with an optional nine month extension at maturity. Final maturity date is 7/23/23.

By Izzy|January 21st, 2022|Funded Investments|0 Comments

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Rhino Holdings Sallisaw, LLC #5338 | OKLAHOMA – FUNDED

Rhino Holdings Sallisaw, LLC #5338 | OKLAHOMA – FUNDED

The collateral for this loan is 10-acre parcel with a 105,000 square foot shopping center. Located in Sallisaw, OK, about 100 miles southeast of Tulsa, OK, the property is home to Tractor Supply and a few small local retailers. Currently 52% vacant, the borrower is acquiring the property with the intent to create value by leasing up the vacant space and fixing some deferred maintenance issues. With two tenants currently in lease negotiations with the borrower, the property would be over 90% leased once the tenants sign new agreements. Loan Amount: $4,600,000 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 two optional nine-month extensions at maturity. Final maturity date is 4/15/24.

By Izzy|January 21st, 2022|Funded Investments|0 Comments

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Dragonhawk Holdings, LLC #5330-5337 | NEVADA – FUNDED

Dragonhawk Holdings, LLC #5330-5337 | NEVADA – FUNDED

First Trust Deed collateralized by eight residential lots in MacDonald Highlands Master Planned Community. These lots are part of the Dragon Rock community within MacDonald Highlands which was developed by the borrower. All of the lots have a purchase option with Blue Heron, one of the top custom home builders in Las Vegas, NV. 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. These lots have been selling for an average price of nearly $700,000 over the past six months. Master Loan Amount: $2,900,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: Nine months with an optional nine-month extension at maturity. Final maturity date is 7/11/23.

By Izzy|January 18th, 2022|Funded Investments|0 Comments

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Mosaic Seven, LLC #5328 | NEVADA – FUNDED

Mosaic Seven, LLC #5328 | NEVADA – FUNDED

First Trust Deed collateralized by two acre parcel 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 the property does not currently have a zoning designation, it is the intent of the borrower 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 would be willing to support both residential as well as industrial developments on the site. Master Loan Amount: $1,650,000 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 an optional nine-month extensions at maturity. Final maturity date is 7/26/23.

By Ignite Funding|January 12th, 2022|Funded Investments|0 Comments

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The Eighty-Ten by Bakerson, LLC #5326 | NEW MEXICO – FUNDED

The Eighty-Ten by Bakerson, LLC #5326 | NEW MEXICO – FUNDED

First Trust Deed collateralized by a 1.38-acre parcel of land which has a 36-unit apartment building on it. It is the borrower’s intent to acquire the site and rehab the property to increase the net operating income, therefore, increasing the property’s value. Although there is much in the form of deferred maintenance on the asset, the borrower is well equipped to rehab the already partially occupied units. They will first begin the rehab on the vacant units and will not sign any rehabbed units to long term leases. This will ensure they will be able to rehab all units during the first 14 months of owning the property. Once the property is fully rehabbed and over 90% leased for 90 consecutive days, they will pay this loan off via long term financing. Master Loan Amount: $2,170,000 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 optional nine-month extensions at maturity. Final maturity date is 7/23/23.

By Ignite Funding|January 8th, 2022|Funded Investments|0 Comments

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Hurry It Up We Are Burning Daylight, LLC #5316 | NEVADA – FUNDED

Hurry It Up We Are Burning Daylight, LLC #5316 | 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 is already in full swing and is expected to be completed in four months. Once the property is constructed and the tenant has occupied the property, the borrower will pay this loan off via a refinance. Loan Amount: $1,796,000 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 extensions at maturity.

By Izzy|January 5th, 2022|Funded Investments|0 Comments

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Dragonhawk Holdings, LLC #5319-5325 | NEVADA – FUNDED

Dragonhawk Holdings, LLC #5319-5325 | NEVADA – FUNDED

First Trust Deed collateralized by seven residential lots in MacDonald Highlands Master Planned Community. These lots are part of the Dragon Rock community within MacDonald Highlands which was developed by the borrower. All of the lots have a purchase option with Blue Heron, one of the top custom home builders in Las Vegas, NV. 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. These lots have been selling for an average price of nearly $700,000 over the past six months. Master Loan Amount: $2,848,000 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 6/27/23.

By Izzy|January 4th, 2022|Funded Investments|0 Comments