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Investments

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|0 Comments
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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|0 Comments
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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 |August 10th, 2023|Funded Investments|0 Comments
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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|0 Comments
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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|0 Comments
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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|0 Comments
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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|0 Comments
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Skye Meadows 34, LLC #5832-#5863 | UTAH – FUNDED

First Trust Deed collateralized by 32 finished lots in the Sky Meadows Subdivision in Spanish Fork, UT (approximately 54 miles south of downtown Salt Lake City). The borrower is acquiring these 32 lots as well as two additional lots in the community. The community consists of 49 total lots with the remaining lots being held by a separate homebuilder. These finished lots are ready to have building permits pulled and home construction started. The borrower anticipates two starts per month starting in month three. This means they anticipate paying all this loan in its entirety when the loan fully matures. Homes in this community will be four bedrooms, 3.5 bath homes with a two car attached garage. Home prices will start in the high $600’s with an anticipated average sales price of $720,000. The first home closing should occur in the first quarter of 2024. Master Loan Amount: $5,472,000 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 12/20/24.

By |June 26th, 2023|Funded Investments|0 Comments
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Sequoia – Dorrell Eula, LLC #5828 | NEVADA – FUNDED

The collateral for this loan is a 0.46-acre piece of land located on the corner of Eula St and Dorrell Ln. Now that the required governmental entities have approved the construction of the 5,073 square foot house, the borrower is ready to begin construction of the home. These are nearly identical building plans to ones he has previously built and sold on two separate occasions about a mile away from this location which enables him to really know what final costs are going to be and tweak the plans slightly based on feedback from the prospective buyers on his other homes. It is anticipated the borrower will begin work on the property within a month after funding with an anticipated construction timeline of 10 months. Loan Amount: $1,083,000 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 12/26/24.  

By |June 13th, 2023|Funded Investments|0 Comments
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JCM Development, LLC #5806 | MONTANA – FUNDED

The collateral for this loan consists of an approximately 4.05-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 a twelve building, 48-unit, residential development. Each of the twelve buildings would be fourplexes to allow for a multitude of takeout financing options. Each of the units will be three bed, two bath units with rental rates averaging $2,400 per unit. With an extremely strong rental demand in the area, it is anticipated all the units will be absorbed by the market shortly after completion. The fourplex configuration gives the borrower options of selling individual buildings or refinancing the whole project as an investment. Within the same complex, the borrower is currently building 24 units so this would be a continuation of that existing construction project. Master Loan Amount: $10,500,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10- day grace period.  

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