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LV Properties & Investments, LLC, White Series #5979 | NEVADA – FUNDED

The collateral for this loan is a single tenant office building that was built in 2005 just south of the airport in Las Vegas, NV. It is currently being used by the borrower as their main office building. As a developer in Las Vegas, they are nearing completion of a property downtown that they will move their main office to. Although the property is currently occupied, the borrower will be vacating the premises shortly after this loan goes into place. The approximately 5,000 square foot office space will then be listed for sale as a single tenant office building. Loan Amount: $1,100,000 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 3/4/25.  

By |September 7th, 2023|Funded Investments|0 Comments
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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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Future Legends, LLC #5952 | COLORADO – FUNDED

First Trust Deed collateralized by roughly 100 acres of land which will eventually be developed into a youth sports facility, surrounding a professional baseball stadium. The overall complex will combine all elements needed for a successful youth sports faculty including restaurants, fields, hotels, retail, dormitories, and other amenities. The site is located about two miles east of downtown Windsor (60 miles north of Denver, CO). After purchasing the Orem Owlz minor league baseball team in 2004, the borrower envisioned developing a youth sports complex integrated into a minor league baseball facility. This vision is being manifested into the Future Legends Complex which will consist of 12 soccer fields, 10 baseball diamonds, a 64-team dorm, with retail shops and hotels surrounding the complex. This loan will encumber everything owned by the borrower in the area excluding the stadium, dorms, future hotel parcels, and the retail area which already has bank financing in place or in process. The 100 collateralized acres will continue to be developed by the borrower using the financing from this loan and additional money from the borrower. It is anticipated that the collateral for this loan will be fully developed within three months of this loan closing. Loan

By |August 18th, 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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Harmony Homes Nevada, LLC #5884-#5894 | NEVADA – FUNDED

First Trust Deed collateralized by roughly 7.18 acres of residentially zoned land near the corner of Azure and N 5th St in Las Vegas, NV (roughly eight miles north of downtown Las Vegas). The land is currently zoned as a Planned Unit Development since the previous owners have gone through many different iterations with the local municipalities to get zoning approvals. The borrower is currently working with the city to approve a 108-unit community. All 108 units are expected to be in the form of 36 triplex buildings. This tentative map approval for the 108-unit community will happen shortly after the funding of this loan. In a month, the borrower will begin the development work on the land which is expected to cost nearly $5,000,000. The first home will not be made available for approximately one year. With plans ranging from 1100 -1500 square feet and price points starting in the low $300,000’s, these townhomes will help fill the demand for the entry level buyer. Master Loan Amount: $3,250,800 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

By |July 12th, 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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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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Southbridge, LLC #5826 | IDAHO – FUNDED

The collateral for this loan is 11 acres of land in Idaho Falls, ID. Since acquiring the land about two years ago, the borrower worked with the city to get the plat map approved for the construction of a 160-unit build-to-rent townhome community. Although the collateral for the project is all the land that will ultimately become the 160-unit community, this loan is for the vertical construction of 84 of the units and the land associated with phase two which will eventually be 76 more units. In this fast-growing market, rental rates have outpaced the supply of available product which this property will help to satisfy. Lease up should happen in short order which will allow for the refinance to happen on a rolling basis. Each of the units will average 1,425 square feet and are anticipated to rent for $1,825 per month. It should also have one of the nicest amenity packages in the entire market. Loan Amount: $15,800,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: Nine months with an optional nine-month extension period. The final maturity date is 12/7/24  

By |June 13th, 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 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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