Blue Heron Oasi, LLC #5683-#5702 | NEVADA – FUNDED

First Trust Deed collateralized by 20 of the 24 total lots within the Blue Heron developed community know as Oasi. Since acquiring the 13 acres in August of 2021, the borrower has nearly completed all of the horizontal development of the 24-lot community. Additionally, they have three model homes being built and have sold one lot to a buyer who will be contracting with Blue Heron to build a home. Homes in the community will average nearly 6,000 square feet and could sell for nearly $5,000,000. The Blue Heron business model is a bit unique in the home building industry where they will actually sell the finished lot to the home buyer and then contract back with Blue Heron to build a home on the lot. Most homebuilders don’t transfer ownership of the property until after the home is constructed. This structure allows Blue Heron to pay off the land loan (this loan) much sooner in the process and passes on much of the financing costs to the home buyer which increases the builder’s margin. Once the community gate is installed and the model homes are completed, Blue Heron expects to sell about one lot per month Master Loan Amount:

Citywide Land & Development, LLC #5673-5680 | TEXAS – FUNDED

First Trust Deed collateralized by eight fully built residential homes in Midland, TX (about 330 miles west of Dallas, TX and 120 miles south of Lubbock, TX). Ranked as one of the fastest growing micro cities in America, there is a need for new housing supply in this area. The borrower is purchasing these eight completed units from Betenbough Homes as an end of year effort to clear inventory of the sellers’ books. The borrower is under contract to purchase (or already closed on) a total of 23 completed homes over a 45-day period at a discounted price. Our borrower will then lease up the properties and sell the rented units to their investors as cash flowing assets. Each home sits on approximately .12 acres of land with homes ranging from 1350 to 2050 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. Master Loan Amount: $2,110,000 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 no extensions available. Final

Rhino Holdings Kent, LLC #5637 | WASHINGTON – FUNDED

The collateral for this loan is a 66,000 square foot shopping center in Kent, WA. This is part of a larger shopping complex that includes national retailers like Target, PETCO, and Ross Dress for Less along with many local shops. The part of the complex the borrower is acquiring is the far north part of the well performing, highly trafficked property. This space was once used as a large format grocery store but was shut down many years ago and has sat vacant. The borrower has three tenants in tow that will have the property 94% leased. Tenants range from 17,000 square feet to 25,000 square feet and all three have already signed LOI’s on the project. Final leases are expected in the coming weeks. Two of the three tenants should be open and fully operational in 2023 and one of them will not be opening until early 2024.Once all tenants are open for business, the borrower will either refinance or sell the property. Loan Amount: $11,000,000 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

SR Decatur Apts, LLC #5595 | NEVADA – FUNDED

The collateral for this loan is a 5.33 gross acre parcel of land that has been approved for multi-family use of up to 191 total units. Located on North Decatur, the property is about five miles Northwest of downtown Las Vegas, NV. Since acquiring the site in 2019, the borrower worked with the appropriate government officials to get the zoning changed to C-1, Limited Commercial District which will allow apartments. Given the good visibility to the North and West of the property, apartments should have an easy time leasing. Loan Amount: $2,300,000 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 5/1/24.

JCM Development, LLC #5599 | MONTANA – FUNDED

The collateral for this loan consists of an approximately 1.67-acre parcel of land which is currently zoned B-2 giving the borrower options for many business uses such as manufacturing, residential and multifamily. It is the intent of the borrower to get final approval for a six building, 24-unit, residential development. Each of the six buildings would be fourplexes to allow for a multitude of takeout financing options. Each of the units will be three bed, two bath units with rental rates averaging $2,200 per unit. With an extremely strong rental demand in the area, it is anticipated all the units would be absorbed by the market within one month of completion. The fourplex configuration gives the borrower options of selling individual buildings or refinancing the whole project as an investment. Master Loan Amount: $4,200,000 Yield: 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 4/16/24.

Village at St Rose, LLC #5570 | NEVADA – FUNDED

First Trust Deed collateralized by a 11.7-acre parcel of land approximately 13 miles south of downtown Las Vegas, NV. Since acquiring the property in late 2018, the borrower has continued to work with local city and county officials to get the property zoned for its intended use. Now that the property zoning of “mixed use” is in place, they have continued to work with officials to get the tentative map approved for a 300,000 square-foot development that will feature a mix of retail, office and medical space. Although leasing is ongoing, the borrower has received approval from the tenant that will occupy over 50% of the project. Loan Amount: $13,300,000 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 3/20/24.

Chicks Dig Scars, LLC #5565 | NEVADA – FUNDED

The collateral for this loan is a 1.13 acre parcel of land located in the “Arts District” of Las Vegas, Nevada. The Arts District has seen an enormous amount of revitalization after large capital infusions in the area have completely changed the overall dynamics. The 32,000 square foot building was originally constructed in the 1950’s for Mission Linen Supply company which provided uniforms for the casinos throughout the 20th century. The plan of the borrower is to preserve the historical aesthetic of the building by bringing in three synergistic tenants to the area. Half of the space will be occupied by the Evel Knievel Museum which will become the flagship Evel Knievel experience and museum. The other half of the property will be occupied by a pizza tenant and a café. Over the next 12 months, the borrower anticipates spending nearly $10M prior to closing on a construction loan. Total project costs re expected to be $19.2M. Loan Amount: $4,950,000 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

Mosaic Seven, LLC #5563 | NEVADA – FUNDED

The collateral for this loan is a 3.85 net acre parcel of vacant land located in the fast growing “West Henderson” area of Las Vegas, NV. Given the areas pro-development city officials, the area has seen robust growth in the past few years with much more development planned in the near future. Although the property does not currently have a zoning designation, it is the intent of the borrower to get approval to allow for industrial design manufacturing which has been approved on many parcels in the area. In addition to this parcel, the borrower also owns or controls over 170 additional acres in the area. One of the advantages of parcels in the area is that city officials would be willing to support both residential as well as industrial developments on the site. Loan Amount: $3,258,000 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 3/21/24.

Rhino Holdings Coldwater, LLC #5557 | MICHIGAN – FUNDED

First Trust Deed collateralized by roughly 11 acres of commercially zoned land in Coldwater Michigan which is midway between Chicago and Detroit. Since purchasing the property in 2019, the borrower has successfully reduced the vacancy by signing Harbor Freight to a long-term lease. Harbor Freight had their grand opening on 8/13/22. Additionally, the borrower is working with another national retailer to increase the overall occupancy to 85%. Once that lease is signed, the borrower will begin to advertise the property for sale. Loan Amount: $3,000,000 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 at maturity. Final maturity date is 2/13/24.

Mosaic Seven, LLC #5549 | NEVADA – FUNDED

The collateral for this loan is a five-acre parcel of vacant land located in the fast growing “West Henderson” area of Las Vegas, NV. Given the areas prodevelopment city officials, the area has seen robust growth in the past few years with much more development planned in the near future. Although the property does not currently have a zoning classification, it is the intent of the borrower to get approval to allow for a multifamily development as part of the entire planned unit development in addition to this property, the borrower also owns or controls over 170 additional acres in the area. One of the advantages of parcels in the area is that city officials should be willing to support both residential as well as industrial developments around this area giving the borrower some flexibility with potential uses. Loan Amount: $3,258,000 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 2/23/24.

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