passive income Archives - Ignite Funding

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Harmony Homes Nevada, LLC #6405 | NEVADA – ($1.7M Available)

Harmony Homes Nevada, LLC #6405 | NEVADA – ($1.7M Available)

First Trust Deed collateralized by 4.88 acres of land near the corner of Boulder Highway and Sunset Rd in Henderson, NV (roughly 13 miles southeast of downtown Las Vegas). The land was zoned for Community Mixed Use and since the borrower has gotten a final map approved to allow for the development of a 72-unit triplex condo community and is currently developing the land. As a leader in the entry level residential real estate market in Las Vegas, Harmony homes has acquired this parcel with the idea of increasing density to reduce the price point. In today’s changing real estate market, it is prudent of owners to find creative ways to reduce the price of the finished product. Harmony has done that with increasing the density. The average sales price is anticipated to be 30% less than the average sales price of a home in the area. Master Loan Amount: $4,400,000 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 4/14/26.

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

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CC Building VI, LLC #6346 | NEVADA – SOLD OUT

CC Building VI, LLC #6346 | NEVADA – SOLD OUT

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|Available Investments|0 Comments

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Prez Enterprises, Inc. #6393 | TEXAS – ($1.4M Available)

Prez Enterprises, Inc. #6393 | TEXAS – ($1.4M Available)

First Trust Deed collateralized by a 19 .05-acre parcels of land approximately 12 miles north of downtown Houston, TX. The borrower is purchasing all 19 parcels in the form of finished lots and intends to construct finished spec homes on each lot. Vertical construction is anticipated to begin mid Q4 of 2024 with completion expected to occur sometime in mid-2025. These homes will all be 3 bed 2.5 bath models with 9 homes being 1571 sf and the other 10 homes being 1556 sf. The borrower expects to have these homes pre-sold before construction is complete and will begin marketing them once construction begins. Master Loan Amount: $5,363,000 Yield: 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 3/25/26.

By Izzy|October 8th, 2024|Available Investments|0 Comments

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Green Level West II, LLC #6386 | NORTH CAROLINA – ($150K Available)

Green Level West II, LLC #6386 | NORTH CAROLINA – ($150K Available)

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|Available Investments|0 Comments

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RJJR Investments Two, LLC #6372 | NEVADA – ($800K Available)

RJJR Investments Two, LLC #6372 | NEVADA – ($800K Available)

First Trust Deed collateralized by a 7.5-acres of raw land approximately 12 miles southwest of downtown Las Vegas, NV. This property is located adjacent to S Jones Rd which is anticipated to be widened from 4 to 6 lanes with construction beginning around November. This will increase overall traffic to the area as the city of Las Vegas continues to expand. Additionally, the surrounding land in the subject property’s area is either owned by the airport or private individuals. The airport land is designated as open land that will not be sold off in the foreseeable future and the privately owned land in the section is further away from sewer lines than the subject property and therefore is more costly to develop. These facts all bode well for the borrower, who plans to subdivide this land into 12 paper lots which he will then sell to investors. Master Loan Amount: $2,730,000 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 3/16/26.

By Izzy|September 24th, 2024|Available Investments|0 Comments

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KB WHTM Propco, LLC #6279 | COLORADO – ($400K Available)

KB WHTM Propco, LLC #6279 | COLORADO – ($400K Available)

First Trust Deed collateralized by a 2,364 sq/ft building in Lamar, Colorado. Colorado is the 6th fastest growing US state and Lamar is the largest city in southeastern Colorado. This quaint city offers a small-town atmosphere. Lamar’s median household income increased more than 10% from 2021 to 2022. This property is located on Highway 287/ Main Street which offers the most visibility in the town. The borrower intends to build a freestanding restaurant and Arby’s has already signed a lease to occupy the entire building. Construction has started as of July 2024 and is expected to be completed in the second quarter of 2025. The franchisee for this Arby’s location has also done numerous build-to-suit locations with this developer before, some of which were in the same town of Lamar, CO. 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 extension at maturity. Final maturity date is 12/19/25.

By Izzy|September 4th, 2024|Available 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 – SOLD OUT

Keystone Ridge Investments, LLC #6269 – SOLD OUT

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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Rhino Holdings Marysville I, LLC #6328 | WASHINGTON – ($2.4M Available)

Rhino Holdings Marysville I, LLC #6328 | WASHINGTON – ($2.4M Available)

The collateral for this First Trust Deed loan consists of four parcels in the Marysville Town Center in the heart of Marysville, WA. Marysville is a vibrant, growing city on the banks of the Snohomish River known for its spectacular views of the Olympic and Cascade mountains. Washington has the 14th fastest growing economy in the US and Marysville is approximately 35 miles north of Washington’s largest city, Seattle. These four parcels cover 431,600 sf (10.6 acres) of land and are home to many large brands such as JC Pennys, Petco, Burlington’s, Verizon, and more. The borrower plans to acquire this facility and bring in new tenants to the available pads at higher rental rates allowing an overall NOI increase of nearly 30% for the Town Center. This loan will be used to finance the acquisition of the property while the borrower looks for buyers for each of the four parcels once stabilization is reached. Master Loan Amount: $24,391,000 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

By Izzy|August 6th, 2024|Available 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