Investments Archives - Page 2 of 10

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Slot Gaming Land Holdings, LLC #5988 | NEVADA – FUNDED

Slot Gaming Land Holdings, LLC #5988 | NEVADA – FUNDED

The collateral for this loan is a 1.13-acre piece of land located near the corner of Whispering Sands Dr and Garehime St. Since acquiring the site in April of 2022, the borrower worked with the city to allow a parcel split, subdividing the existing parcel into two separate lots. This was considered a conforming zone change so it wasn’t a matter of “if” it would be allowed but “when”. Now that the parcel split is behind them, building plans for two homes have been approved with the city. The homes average about 4,000 square feet each and are both single stories. Once the homes are framed, they will be listed for sale so potential buyers can pick out their finishing touches like countertops, cabinets, and color. Loan Amount: $2,200,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: Nine months with an optional nine-month extension at maturity. Final maturity date is 3/27/25. *For investments equal to or greater than $100,000 investors will earn 10.5%.

By Izzy|September 27th, 2023|Funded Investments|0 Comments

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Rue Grimaldi, LLC #5984 | NEVADA – FUNDED

Rue Grimaldi, LLC #5984 | NEVADA – FUNDED

The collateral for this loan is a 0.32 acre finished lot in Henderson, NV which is about 20 miles southeast of downtown Las Vegas, NV in the Lake Las Vegas master planned community. Since acquiring the lot for $310,000 in September of 2022, the borrower successfully worked with the city and HOA to get approval for a 3,254 square foot home. This modernly designed home will feature four bedrooms and three bathrooms with a three-car attached garage. Included in the budgets is an extensive pool and landscaping package to give the buyer what should be a “turnkey” type of purchase. This one-story home will have an attached casita with a minimum of 10-foot ceilings throughout. Upgraded Thermador appliances in the gourmet kitchen, built in security and speakers, and a free-standing tub in the master to name a few of the many upgrades. It is anticipated the home will be sold prior to the home being completed. Loan Amount: $750,000 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 two

By Izzy|September 19th, 2023|Funded Investments|0 Comments

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FIG UT 1, LLC #5981 | UTAH – FUNDED

FIG UT 1, LLC #5981 | UTAH – FUNDED

The collateral for this loan consists of nearly 19 acres of residentially zoned land in Santaquin, UT (approximately 22 miles south of downtown Provo, UT). Since acquiring the site in late 2021, the borrower has worked with the city to get approval for a 165-unit townhome complex. All units are presold and will be repaid when construction loans are drawn which will be after all of the development work is completed on the site. Master Loan Amount: $13,600,000 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 an optional extension at maturity. Final maturity date is 3/20/25.

By Izzy|September 19th, 2023|Funded Investments|0 Comments

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

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 Izzy|September 6th, 2023|Funded Investments|0 Comments

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Prez Enterprises, Inc #5955-#5970 | TEXAS – FUNDED

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 Izzy|September 6th, 2023|Funded Investments|0 Comments

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Prez Enterprises, Inc #5939-#5950 | TEXAS – FUNDED

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 Izzy|August 15th, 2023|Funded Investments|0 Comments

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Harmony Homes Nevada, LLC #5916-5922 | NEVADA – FUNDED

Harmony Homes Nevada, LLC #5916-5922 | NEVADA – FUNDED

First Trust Deed collateralized by 94 substantially completed residential lots near the corner of Vegas Dr and Rancho Dr (five miles northwest of downtown Las Vegas, NV). Since purchasing the property nearly five years ago, the borrower worked with the city to get a 248-lot community approved. The first phase of the community began selling in 2022 and will continue until all 148 lots in the first phase are done. All homes in this first phase have been sold with an average sales price of approximately $340,000. This loan encumbers most of the second (last) phase of the community. The borrower anticipates being sold out of the community in early 2025 Master Loan Amount: $3,102,000 Yield: 10% iterest 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 2/6/25.

By Izzy|August 10th, 2023|Funded Investments|0 Comments

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Midway Land Holdings, LLC #5923 | UTAH – SOLD OUT

Midway Land Holdings, LLC #5923 | UTAH – SOLD OUT

First Trust Deed collateralized by roughly 25 acres of partially improved land which will eventually be developed into 143 townhomes as well as a few commercial pads. This is the next phase of the successful Whitaker Farms project the borrower completed three years ago. Since acquiring the property in September of 2020, the borrower has torn down the old buildings on site and received master plan approval for the entire project. Additionally, phase one through three final map will be approved with the payment of fees and posting a bond, all of which this loan will be used for. Future fundings will be used for the development of phase two and three as well as to get the final map approved on the last two phases. In all, there will be 143 units built in the community, some of which will allow for nightly rentals. Additionally, the borrower already has over 40 reservations for the townhomes and two of the commercial pads even though homes won’t be finished for at least nine more months. Master Loan Amount: $37,300,000 Yield: 10% Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period.

By Izzy|July 25th, 2023|Available Investments|0 Comments

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Forever Home, LLC #5900 | IDAHO – FUNDED

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 Izzy|July 25th, 2023|Funded Investments|0 Comments

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Grays Development Company, Inc #5902-#5914 – FUNDED

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 Izzy|July 18th, 2023|Funded Investments|0 Comments