passive income Archives - Ignite Funding

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Green Level West I Apartments, LLC #6465 | NORTH CAROLINA – ($1.6M AVAILABLE)

Green Level West I Apartments, LLC #6465 | NORTH CAROLINA – ($1.6M AVAILABLE)

The collateral for this loan is an approximately 25-acre site that will be entitled to allow for the construction of a 300+ unit apartment building. This acquisition sits contiguous to two separate properties the borrower has under contract which will total over 40 acres. Since the purchase of this land happened before it was fully entitled, the borrower used Ignite to acquire the property while finalizing the entitlements. Entitlements on all 40 acres have now been officially approved by the city, allowing a mixed use district including residential spaces, commercial spaces, and some offices as well. On the other side of the property construction has begun on over 1 million square feet of medical space that is owned by Duke Health. The city has already expressed a desire to make this corridor the new “heart” of the city which bodes well for the long-term viability of the project and the short term needs to get the property entitled Loan Amount: $6,600,000 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

By Ignite Funding|December 5th, 2024|Available Investments|0 Comments

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Stonehaven, LLC #6449 | NEVADA – ($5.3M AVAILABLE)

Stonehaven, LLC #6449 | NEVADA – ($5.3M AVAILABLE)

First Trust Deed collateralized by 5.03 acres of residentially zoned land in the Northwest part of Las Vegas, NV. The subject property is situated between properties zoned as rural estates as well as some parcels of slightly higher density. The borrower has already gotten the tentative map (shown within the below link) approved with the city and has already funded over half of the development for the project themselves. The borrower plans to split the land into two separate four half-acre lot communities, with this loan funding the land development along with the construction of the first two homes. The borrower plans to build single family homes on the lots which should average 6,800 square feet and start at prices of $3,800,000 each. The tentative map is currently approved as paper lots and will see final map approval once the bond work is confirmed with the city which is what is considered a conforming zone. The bond will be posted once this loan is closed. Master Loan Amount: $9,645,000 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 Ignite Funding|November 22nd, 2024|Available Investments|0 Comments

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Lokal Communities, LLC #6387 | COLORADO – FUNDED

Lokal Communities, LLC #6387 | COLORADO – FUNDED

First Trust Deed collateralized by 25 finished lots of a residentially zoned property in the growing city of Colorado Springs, CO which is approximately 70 miles south of Denver, CO. Located near the cross streets of Centennial and Fillmore, the property is just nine miles to the south of the Colorado Springs Air Force Academy and under ten minutes from downtown Colorado Springs and Garden of the Gods. The surrounding area is seeing immense residential and commercial growth including national quick service restaurants and over 300 apartment units constructed by different builders. Of the 105 lots in the community, the 25 lots being encumbered by this loan represent all remaining unbuilt lots. These lots will each have an attached townhome product built that will be one of five floorplans: Baxter, Clark, Conrad, Ellis, and Sean. Master Loan Amount: $2,400,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *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 5/6/26.

By Ignite Funding|November 14th, 2024|Funded Investments|0 Comments

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CC Building VI, LLC #6346 | NEVADA – FUNDED

CC Building VI, LLC #6346 | NEVADA – FUNDED

First Trust Deed collateralized by a 1.54-acre parcel of land approximately 16 miles southwest of downtown Las Vegas, NV. This property was developed in 2010 by Stable Development as part of an 8-building corporate center and now is owned in full by the borrower as a stand-alone office building. The borrower has already sold off multiple of the original eight buildings at approximately $304/sf. This property is currently 100% leased and recently renewed the lease of its anchor tenant, The Wealth Consulting Group, through 2034. Additionally, the borrower has agreed to assign rents to Ignite should that be deemed necessary. The borrower plans to hold this asset long-term and is seeking financing from Ignite until more attractive long-term debt options are available, which may occur in late 2025. Loan Amount: $4,400,000 Yield: 11% 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 11.5%. Term: Nine months with an optional nine-month extension at maturity. Final maturity date is 4/7/26.

By Izzy|October 10th, 2024|Funded Investments|0 Comments

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Green Level West II, LLC #6386 | NORTH CAROLINA – FUNDED

Green Level West II, LLC #6386 | NORTH CAROLINA – FUNDED

The collateral for this loan is an approximately 10-acre site that will be entitled to allow for the construction of a 74-unit apartment building. This acquisition sits contiguous to two separate properties the borrower has under contract which will total over 40 acres. Since the purchase of this land happened before it was fully entitled, the borrower used Ignite to acquire the property while finalizing the entitlements. Entitlements on all 40 acres have now been officially approved by the city, allowing a mixed use district including residential spaces, commercial spaces, and some offices as well. On the other side of the property construction has begun on over 1 million square feet of medical space that is owned by Duke Health. The city has already expressed a desire to make this corridor the new “heart” of the city which bodes well for the long-term viability of the project and the short term needs to get the property entitled. Loan Amount: $4,250,000 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

By Izzy|October 5th, 2024|Funded Investments|0 Comments

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Lokal Communities, LLC #6349 | COLORADO – SOLD OUT

Lokal Communities, LLC #6349 | COLORADO – SOLD OUT

First Trust Deed collateralized by 28 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. 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 April of 2025. Master Loan Amount: $3,612,000 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 extension available upon maturity. Final maturity date is 6/8/25.

By Izzy|September 4th, 2024|Blog|0 Comments

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Keystone Ridge Investments, LLC #6269 – FUNDED

Keystone Ridge Investments, LLC #6269 – FUNDED

The collateral for this loan is 8 residential lots in Slaton, TX which is approximately 14 miles east of downtown Lubbock, TX. Since acquiring the site, the borrower has successfully worked with the city to subdivide the site into 58 residential lots. The collateral for this loan consists of eight of these lots. Upon the original loan funding, the borrower began building homes on each of the lots that are three bedrooms and two bathrooms each. Each unit is roughly 1,300 sq. ft in size with a two-car attached garage sitting on 1.38 acres of land. The borrower is building 15 units in this community and anticipates building and holding onto each of the units as rentals. Loan Amount: $1,400,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *For investments equal to or greater than $100,000 investors will earn 10.5%. Term: Nine months with an optional nine-month extension period. The final maturity date is 12/2/25.

By Izzy|August 22nd, 2024|Funded Investments|0 Comments

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KB Ash Fork, LLC #6325 | ARIZONA – SOLD OUT

KB Ash Fork, LLC #6325 | ARIZONA – SOLD OUT

First Trust Deed collateralized by a 2,341,786 sq/ft (54 acres) parcel of land in Ash Fork, Arizona. Arizona has the 6th fastest growing economy in the US and Ash Fork is located just outside Flagstaff in central Arizona. Ash Fork offers a small-town atmosphere with the primary economic drivers consisting of wholesale trade and manufacturing. Ash Fork and the greater Flagstaff area continue to see favorable unemployment rates as well, with current rates around 2.4%. Which is well below the national average of 4.1% as of July 2024. This property is located on Highway 66 (I-40), which offers direct access for all vehicles passing through. The borrower intends to build a fully functional travel center occupied by Travel Centers of America via LV Petroleum. This travel center plans to have three QSRs within the location including KFC, Del Taco, and Sbarro Pizza. LV Petroleum has already signed a lease with Kingsbarn to occupy the entire building upon completion. Construction is currently in progress and is expected to be completed in the first quarter of 2025. The franchisee for this Travel Centers of America location has done numerous build-to-suit locations with this developer before, which has allowed for a prelease agreement

By Izzy|August 5th, 2024|Blog|0 Comments

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Grays Development Company, Inc #6288 | COLORADO – FUNDED

Grays Development Company, Inc #6288 | COLORADO – FUNDED

The collateral for this loan consists of 68 residential housing lots averaging a quarter acre in size, located in Monument, Colorado (approximately 20 minutes north of Colorado Springs, CO). Grays will use these lots to build ranch-style and two-story homes ranging from 3 to 6 bedrooms and 1,875 and 3,083 sq. ft. This quaint neighborhood is conveniently located near the I-25, creating a convenient commute to the Air Force Academy, Colorado Springs, and the Denver Tech Center. It borders Pike National Forest to the west as well as fishing, kayaking, and paddle boarding at Palmer Lake nearby. Other notable nearby places are Garden of The Gods, Seven Falls, Old Colorado City, Red Rock Canyon, and The Olympic Training Center and museum. Master Loan Amount: $13,940,000 Yield: 11% 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 1/8/26.

By Izzy|July 2nd, 2024|Funded Investments|0 Comments

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Rhino Holdings Aurora, LLC #6264 | ILLINOIS – FUNDED

Rhino Holdings Aurora, LLC #6264 | ILLINOIS – FUNDED

: First position loan collateralized by part of a retail shopping center in North Aurora, Illinois (about 40 miles west of downtown Chicago, IL). Since acquiring the 120,000 square foot property in 2021, the borrower worked with existing tenants to sign new, long-term leases while simultaneously leasing up the vacancies within the project. Additionally, the borrower updated much of the property to prepare individual parts of the project for sale. The collateral for this loan is the UFC Gym space shown below. The tenant has been removed from the property as the borrower is getting ready to sign a new lease for another fitness user who is willing to pay more in rent. Once the tenant is operating and paying rent, the property will be able to be sold or refinanced. In total, the center is occupied by national tenants like Target, JC Penny’s, Michaels, Petco, Sally’s Beauty, Dollar Tree, and Bath & Body Works. Most of the existing tenants in the shopping center have been leasing the property for over 10 years. Loan Amount: $7,900,000 Yield: Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. *6% is paid

By Izzy|May 23rd, 2024|Funded Investments|0 Comments