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passive income

Meisner Construction, LLC #5134 | MONTANA – FUNDED

The collateral for this first position loan is an approximately .6-acre lot in Bigfork, MT (approximately 100 miles north of Missoula, MT). Since acquiring the property earlier this year, the borrower has finalized plans with the community and city to construct a 2,450 square foot home on the site. This 50-lot community sits near the shores of the picturesque Swan Lake. This home will consist of four bedrooms and three bathrooms. Additionally, there will be a two-car garage and over 400 square feet of covered patio areas. Loan Amount: $490,000 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. 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 three optional nine-month extensions at maturity.

By |June 15th, 2021|Funded Investments|0 Comments
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Aurora Ocala, LLC #5077 | FLORIDA – FUNDED

The collateral for this loan is an approximately 22-acre site that will be entitled to allow for the construction of a 272-unit apartment building. This parcel of land is located within a larger planned unit development consisting of over 200 acres that will be developed into over 1,000 single family homes and nearly 300 multi-family units. This loan is collateralized by all the multi-family land associated with this development which will consist of 11, three story garden style walk-up buildings directly across from the new $6.5mm Nature Preserve Park. Each unit will average nearly 1,000 square feet in size and rent for over $1,400 each. Loan Amount: $2,600,000 Yield: 11% (Principal Balance ≥ $100,000); 10.5% (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 |June 1st, 2021|Funded Investments|0 Comments
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Gold Rose Construction, LLC #5080 | NEVADA – FUNDED

The collateral for this loan consists of an approximately half acre lot within the Kensington Manor Subdivision. Proceeds of this loan will be used by the borrower for the construction of an approximately 7,000 square foot two story home and casita. Located in the Northern part of Las Vegas (approximately 18 miles northwest of downtown Las Vegas, NV), this highend home will consist of five bedrooms and seven bathrooms. Additionally, there will be a four-car garage and space for a pool. This is the third construction loan originated by Ignite for the construction of a home within the community. One of the two previous construction loans is under contract to be sold to an end user. Loan Amount: $2,384,000 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 |May 21st, 2021|Funded Investments|0 Comments
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Elegance Russell, LLC #5079 | NEVADA – FUNDED

This first trust deed is collateralized by 11.16 acres of land currently zoned R-3 for medium density residential housing located about 11 miles southeast of downtown Las Vegas, NV. Since getting the up zoning approved, the borrower will continue to work with the city to get approval on their proposed tentative plat map. The property the borrower intends to develop is a 240-unit age restricted community where only people over the age of 55 will be allowed to live. The borrower currently owns and or manages over 5,000 rental units in and around Las Vegas, so they have a tremendous amount of experience in the field. Loan Amount: $3,700,000 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 |May 13th, 2021|Funded Investments|0 Comments
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Thunder Mountain by Bakerson, LLC #5078 | ARIZONA – FUNDED

This first trust deed is collateralized by a nearly 100,000 square foot Quality Inn hotel that will be converted to a 65-unit apartment building. This apartment building will fill a void in the marketplace for market rate, workforce housing. Originally constructed in 1972, this block building has been operating as various brands of hotels and motels. Due to the pandemic and a multitude of macroeconomic events over the past few years, hotels have taken a bit of a hit forcing a consolidation in the industry. Although this property could be viewed as one of the consolidation casualties, the borrower anticipates it to become a great redevelopment opportunity. By converting the property into its highest and best use as an apartment building, it will bring new life and economic opportunity to the asset. After the conversion is completed, net rents are anticipated to be in excess of $300,000 annually. Loan Amount: $3,100,000 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 three optional nine-month extensions at maturity

By |May 13th, 2021|Funded Investments|0 Comments
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Rhino Holdings Aurora, LLC #5076 | ILLINOIS – SOLD OUT

First position loan collateralized by a retail shopping center totaling 120,000 square feet in North Aurora, Illinois (about 40 miles west of downtown Chicago, IL). The property is currently 76% occupied to national tenants like Michaels, UFC Gym, Petco, Sally’s Beauty, Dollar Tree, and Bath & Body Works. Six out of the seven existing tenants have been leasing the property for over 11 years each showing their dedication to the property. Target and JC Penny’s flank both sides of the property but are not part of this transaction. With current rents over $911,000 annually, the borrower looks to improve the already well performing asset by leasing the remaining 29,000 square feet of vacancy. Current market rents are about 20% higher than what the existing tenants are paying. Loan Amount: $7,400,000 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 |May 7th, 2021|Funded Investments|0 Comments
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Mosaic Seven, LLC #5071 | NEVADA – FUNDED

The properties consist of 7.5 acres of land which was purchased by the borrower in 2016 from the Bureau of Land Management. Since that time, the borrow has gone through many different rounds of negotiations with the county over land use to get the property rezoned. The property has a rural subdivision approval which allows for the development of 13 homes. It is anticipated that the property will receive the final map approval within the next few months at which point the borrower will sell the property to a local homebuilder. The borrower will also paydown $500,000 of the loan amount after the property with APN ending in -009 is refinanced. Master Loan Amount: $2,450,000 Tranche Loan Amount: $1,950,000 for tranche 5072 and $500,000 for tranche 5073 Yield: 10.0% 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 |April 30th, 2021|Funded Investments|0 Comments
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Rhino Holdings Powell, LLC #5068 | OREGON – FUNDED

First position loan collateralized by a retail shopping center totaling 76,000 square feet in Portland, Oregon (about 8 miles east of downtown Portland, OR). The property is currently 94% occupied to national tenants like Baskin Robbins, Metro PCS, Jackson Hewitt, Dollar Tree and Ace Hardware. With current rents over 650,000 annually, the property is currently in a good financial position, but the borrower looks to improve the property’s outlook. To do so, the borrower has plans to fill the remaining vacancy as well as some tenant rollover to another large, national tenant specializing in auto parts. Additionally, the borrower is in current talks to do a ground lease with a national coffee chain in the unused part of the parking lot. Loan Amount: $7,900,000 Yield: 11% total interest. 6% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. An additional 5% interest is paid upon the final loan payoff. Term: Nine months with an optional nine-month extension at maturity.  

By |April 16th, 2021|Funded Investments|0 Comments
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Yuma Care, LLC #5066 | ARIZONA – FUNDED

First Trust Deed collateralized by a parcel of a commercially zoned property approximately 170 miles east of San Diego, CA and 180 miles west of Phoenix, AZ. Since the borrower acquired the site in October of 2020, they worked with the local municipalities to get the property entitled to allow the construction of a geriatric behavioral health facility. This will be the borrowers fifth such facility since 2011 with plans on doing two more each year. Once completed, the property will consist of 16,800 square feet facility with 24 beds. Additionally, Ignite was able to review the appraisal that shows a completed value of the asset at $11,907,000 and a stabilized value of $14,886,000. Tranche Loans: Estimated Date Estimated Amount Loan# 4/12/2021 $1,800,000 5067 5/14/2021 $1,000,000 TBD - Not open for investment at this time 6/11/2021 $1,000,000 TBD - Not open for investment at this time 8/13/2021 $1,000,000 TBD - Not open for investment at this time 10/15/2021 $1,000,000 TBD - Not open for investment at this time 12/17/2021 $1,000,000 TBD - Not open for investment at this time 2/11/2022 $1,000,000 TBD - Not open for investment at this time 3/11/2022 $1,000,000 TBD - Not open for investment at this

By |April 14th, 2021|Funded Investments|0 Comments
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Grays Development Company, Inc #5061-#5065 | COLORADO – FUNDED

The collateral for this loan consists of five superpads that will allow for the ultimate construction of twenty townhomes per pad (100 units in total) which are located in Littleton, CO (approximately 20 miles southwest of Denver, CO). These 100 townhome units are part of a larger townhome project that already has 140 units constructed. Because the project has a stigma as a broken development along with the previously onerous construction defect laws, most developers have steered clear of this project. Lokal Homes has purchased a few of these types of projects throughout the Denver metro area with great success. These townhomes will have an average sales price over $290,000 per unit and over 1,100 square feet in size. Master Loan Amount: $5,900,000 Tranche Loan Amount: $1,180,000 Loan Type: This Master Loan will be sold in tranches, giving investors the opportunity to invest in one or more lots in the community. A breakdown of the lots is shown on the next page. Yield: 10.00% 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 two optional 9-month extension period at maturity.

By |April 2nd, 2021|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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