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Las Vegas

Harmony Homes Nevada, LLC #5037-5040 | NEVADA – FUNDED

First Trust Deed collateralized by nearly 6.2 acres of residentially zoned land near the corner of Cadence Crest Ave and Sunset Rd in Henderson, NV (roughly 15 miles southeast of downtown Las Vegas). The land is currently zoned PC (Planned Community) which will only allow a few homes to be built on the site. The borrower is currently working with the city to approve a 74-lot community. This tentative map approval for the 74 lot community will happen before the funding of this loan. This is the second community in this area the borrower has done with the exact same floor plans. In about nine months, the borrower will begin the development work on the land which is expected to cost nearly $4,500,000. The first home will not be made available for approximately one year. With plans ranging from 1121 -1711 square feet and price points of under $250,000, these townhomes will help fill the demand for the entry level buyer. Master Loan Amount: $1,800,000 Tranche Loan Amount: Between $267,600 and $802,700 Yield: 10.00% (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: 9

By |March 12th, 2021|Funded Investments|0 Comments
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Harmony Homes Nevada, LLC #4979-5035 | NEVADA – FUNDED

First Trust Deed collateralized by 57 finished lots near the corner of Boulder Hwy and Lake Mead Pkwy in Henderson, NV (approximately 16 miles southeast of downtown Las Vegas, NV). The borrower purchased the property from the masterplan developer after the site plan had been approved in December of 2019. The site plan allows for 142 townhome lots in four, six, and eight-plex configurations to be built of which this loan encumbers a total of 57. The development work began in the spring of 2020 and was completed for a cost of $5,800,000. With an average sales price of $250,000 per unit, the borrower will be one of the lowest priced builders in the area. Home sales should start in the community at the end of 2021. Loan Amount: $2,679,000 Yield: 10% Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: 9 months with one optional 9-month extension period at maturity.

By |March 9th, 2021|Funded Investments|0 Comments
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Elation Homes, Inc. #4977 | NEVADA – FUNDED

First Trust Deed collateralized by 14 approximately half acre, fully developed residential lots located in the Valley Heights community in Moapa Valley, Nevada (approximately 58 miles northeast of Las Vegas, NV and 73 miles southwest of St. George, UT). The subdivision includes over 70 homes that are either finished or under contract to be built in the next 30 days. The borrower sold 43 lots within this same community to DR Horton in May of 2019 for $35,000 per lot and this loan is for under $20,000 per lot. Two of the lots will have homes built on them. These two homes will be about 1,600 square feet each and be the same product type this borrower has previously built in this community. Loan Amount: $750,000 Yield: 10.50% 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 one optional nine-month extension period at maturity.

By |March 1st, 2021|Funded Investments|0 Comments
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Ten15 Craig Tenaya, LLC #4945 | NEVADA – FUNDED

The collateral for this loan is 0.95 acres of land located near the corner of Craig Road and US-95 which is about 9 miles northwest of downtown Las Vegas, NV. Since acquiring the property in March of 2016, the borrower has worked with the city to allow for the construction of a 4,039 square foot drive thru outparcel. The property is 100% preleased to Bonanno’s New York Pizzeria and Plant Power Fast Food. This will be Bonanno’s fifth location in Las Vegas and Plant Power’s eighth location but the first in Las Vegas. Construction will begin immediately following the funding of this loan and is expected to be completed in eight months. Loan Amount: $1,325,000 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 two optional nine-month extensions at maturity.

By |January 15th, 2021|Funded Investments|0 Comments
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Harmony Homes Nevada, LLC #4831 | NEVADA – FUNDED

First Trust Deed collateralized by 10.2 acres of residentially zoned land near the corner of Boulder Hwy and Lake Mead Pkwy in Henderson, NV (approximately 16 miles southeast of downtown Las Vegas, NV). The borrower purchased the property from the masterplan developer after the site plan had been approved in December of 2019. The site plan allows for 142 townhome lots in four, six, and eight-plex configurations to be built of which this loan encumbers a total of 58. The development work began in the spring of this year and it is estimated to be completed next month for a cost of $5,800,000. With an average sales price of $247,000 per unit, the borrower will be one of the lowest priced builders in the area. Home construction is anticipated to begin in September of 2021. Loan Amount: $2,726,000 Yield: 10% Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: 9 months with one optional 9-month extension period at maturity.

By |December 29th, 2020|Funded Investments|0 Comments
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Harmony Homes Nevada, LLC #4818 | NEVADA – FUNDED

First Trust Deed collateralized by nearly 9 acres of residentially zoned land near the corner of Lake Mead Pkwy and Warm Springs Road in Henderson, NV (roughly 17 miles southeast of downtown Las Vegas). The land is currently zoned PC (Planned Community) which will allow for the development of 18 homes on the site, but the borrower is working with the city to approve a 94-lot community. Although this zoning has been informally approved, it will not become official until the recording (a few more weeks). Additionally, a tentative map has been approved to allow for the construction of the 94 attached townhome units. This is the second community in this area the borrower has done with the exact same floor plans. In about nine months, the borrower will begin the development work on the land which is expected to cost nearly $4,500,000. The first home will not be made available for approximately one year. With plans ranging from 1121 - 1711 square feet and price points of under $250,000, these townhomes will help fill the demand for the entry level buyer. Master Loan Amount: $2,444,000 Tranche Loan Amount: $611,000 Yield: 10.00% (Principal Balance < $100,000) Interest is paid monthly

By |December 3rd, 2020|Funded Investments|0 Comments
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The Herbert, LLC #4814 | NEVADA – FUNDED

The collateral for this loan is 0.32 acres of land located in the heart of the Art’s District of Las Vegas (an area within downtown Las Vegas). Since acquiring the property in November of 2019, the borrower has worked with the city to allow for the construction of a two story, 9,189 square foot mixed-use building in this trendy part of town. As of this writing, the building is 60% completed and should be fully completed by the end of January 2021. The property is approximately 30% preleased and the borrower is working on LOI’s for another 20% of the project. The tenant mix will include one restaurant (a preleased tenant) and small executive suit style offices to accommodate businesses who do not need very much space (typically around 1,000 square feet per lease). Loan Amount: $2,250,000 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 extension at maturity.

By |November 10th, 2020|Funded Investments|0 Comments
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First Sloan Industrial Center, LLC #4813 | NEVADA – FUNDED

The collateral for this loan is 9.25 acres of land in Sloan, NV (approximately 20 miles south of Las Vegas, NV). The borrower is acquiring the property from a related entity which originally acquired the two separate parcels from two separate sellers. It is the intent of the borrower to work with the city to get the zoning approval for an industrial development. Once the zoning is approved, the borrower will obtain a construction loan for a 174,600 square foot industrial building. The principals of the borrower have worked in the industrial real estate sector of Las Vegas for a combined four decades. Loan Amount: $2,600,000 Yield: 10.50% (Principal Balance ≥ $100,000); 10.00% (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 extension at maturity.

By |November 8th, 2020|Funded Investments|0 Comments
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Sequoia Homes, LLC #4810 | Nevada – FUNDED

The collateral for this loan is an .98-acre lot located in the Northwestern part of Las Vegas (approximately 18 miles northwest of downtown Las Vegas, NV). Since acquiring the property in July of this year, they have worked with the city and county to allow for the construction of a home on the site. The building plans call for a 4,139 square foot home to be constructed. The home will consist of four bedrooms and four and a half bathrooms. The square footage does not include the four-car attached garage. Although the property is not presold, the borrower will engage a brokerage company to market the property for sale once the construction begins. Loan Amount: $680,000 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 extension at maturity. Value: $1,240,000 based on a BPO done by Mosaic Commercial Advisors on 10/29/2020. LTV: 55% based off the BPO shown above.

By |October 30th, 2020|Funded Investments|0 Comments
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North Pass, LLC #4801 | NEVADA – FUNDED

First Trust Deed collateralized by 4.72-acres of land that is currently zoned Neighborhood Commercial. Located approximately 15 miles southeast of downtown Las Vegas and very near the prestigious master plan community of McDonald Highlands in Henderson, Nevada, the site sits across the street from the “Pass at Black Rock”. The Pass at Black Rock is the brainchild of the borrower who is currently working with the city to approve this mountain bike park. Directly south of the site is a 122-lot community that the borrower has worked through since late 2017. In addition to the collateral shown above, the borrower is working with the City of Henderson on a land swap that will add six finished lots to the collateral once completed (summer 2021). Loan Amount: $2,250,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1 st of each month with a 10-day grace period. Term: 6 months with one optional 6-month extension period at maturity.

By |October 20th, 2020|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 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.
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