Skyrim Development, LLC #6257 | UTAH – ($750K AVAILABLE)

The collateral for this loan is approximately 38 acres of land in Hurricane, UT which is approximately 140 miles northeast of Las Vegas, NV. Since acquiring the site, they have successfully worked with the city to get a preliminary plat and site plan approved. The site will ultimately consist of 15 single family detached lots, 132 attached townhome lots, 372 apartment units, and over 66,000 square feet of commercial space. The borrower will develop the entire project and sell off different sections to developers who will construct those specific aspects of the project. Two of the five “super pads” (the sections of the property designated for specific uses) have LOIs to purchase the property within 90 days of being developed. Development is anticipated to start within a week of funding the initial tranche of this loan and should be completed in approximately nine months. Master Loan Amount: $10,300,000 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 12/5/25.

Hillwood Homes at Silver Creek, LLC #6169 | UTAH – FUNDED

First Trust Deed collateralized by four finished lots in Park City, UT. All the grading work for the site has been completed and is ready for the foundation to be poured. Construction permits have already been submitted for each of the nearly 5,000 square foot homes (including partially finished basements). Situated in the Silver Creek Village community that the borrower is currently building in, they have a great understanding of the type of home the market is looking for. Three of the homes are presold and the fourth home won’t be listed for sale until it is approximately 30% complete. Homes in the community average over $1,000,000 each. Master Loan Amount: $3,400,000 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 7/31/25.  

FIG UT 1, LLC #5981 | UTAH – FUNDED

The collateral for this loan consists of nearly 19 acres of residentially zoned land in Santaquin, UT (approximately 22 miles south of downtown Provo, UT). Since acquiring the site in late 2021, the borrower has worked with the city to get approval for a 165-unit townhome complex. All units are presold and will be repaid when construction loans are drawn which will be after all of the development work is completed on the site. Master Loan Amount: $13,600,000 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 optional extension at maturity. Final maturity date is 3/20/25.

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.

FIG Jackson Crossing, LLC #5717-5723 | UTAH – FUNDED

The borrower purchased the 17 acre site back in August of 2021. Since the acquisition, the borrower worked with the city to get the property properly entitled for the community which now consists of two commercial pads and 220 attached residential units. Located approximately 40 miles north of Salt Lake City, UT in Ogden, the property is near a growing part of the city. Both commercial pads have been sold to developers and 80 of the 220 units, leaving the 140 units as collateral of this loan. All 140 units are in some stage of construction from the planning stage through completion. All of the 140 units are presold (pending any unforeseen cancelations). 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. Term: Nine months with an optional nine-month extension at maturity. Final maturity date is 9/18/24.

Hillwood Homes at Midway 18, LLC #5713 | UTAH – FUNDED

First Trust Deed collateralized by a 0.96 acre finished lot in Heber City, UT. All of the grading work for the site has been completed and is ready for the foundation to be poured. Construction permits have already been submitted for on the 5,099 square foot home. 2,564 square feet are above grade, and the remaining is part of the large walkout basement. Situated on a hillside, the back of the property overlooks the picturesque Heber Valley. Only a few minutes away from new ski resort, Mayflower, the property is ideally located for future demand. Once construction is about 20% completed, they will list the property for sale in an effort to get is sold while the prospective buyer can still choose their desired finishes. Although it isn’t addressed to us, and should be taken with a grain of salt, an appraisal was done on October 3, 2022, showing an as-completed value of $2,025,000. This would mean a loan-to-value of 65%. Master Loan Amount: $1,320,000 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 extensions at maturity. Final maturity date

Hillwood Homes at Midway 18, LLC #5704 | UTAH – FUNDED

First Trust Deed collateralized by roughly 5.99 acres of land which will eventually be developed into 18 single family lots. With entitlement completed, the borrower will begin development shortly after acquiring the property. Over the next eight months the borrower should have the land fully developed into the 18-lot community at which point the borrower anticipates being ready for vertical construction (late summer of this year). The 18 quarter to half acre lots will eventually have homes averaging 3,500 square feet built on them. Average sale prices in the community should be around $1,500,000 when the finished homes become available. Master Loan Amount: $6,400,000 Yield: 10.5% 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 extensions at maturity. Final maturity date is 8/4/24. Learn more about this project by listening to this exclusive episode on our podcast:

Westside Land Holdings, LLC #5404 | UTAH – FUNDED

The collateral for this first position trust deed is a 32.8 acres site that will eventually be developed into an industrial complex. The borrower has worked for about two years to acquire multiple parcels of land and assemble them into a large, undivided site which has allowed for some economic efficiencies when dealing with this size of a project. Given the size, one of the largest industrial developers has taken notice and currently has the property under contract to purchase from the borrower for over $21,000,000. Although some dirt will need to be brought to the site to raise the ground level, all utilities are stubbed to the site from Center Street. Loan Amount: $9,000,000 Yield: 11% interest is paid monthly in arrears with payments due on the 1st of each month with a 10- day grace period. Term: Nine months with no options to extend.

Midway Heritage Development, LLC #5363 | UTAH – FUNDED

First Trust Deed collateralized by roughly .86 acres of land that currently operates as a tire shop. This is the last acquisition of a larger 25-acre project which will eventually be developed into 143 townhome and cottage sized lots as well as a few commercial pads. This is the next phase of the successful Whitaker Farms project the borrower completed a year ago. Although the final map has not been approved, part of the whole project (not the collateral for this loan) is already zoned to allow higher density townhomes. Over the next six months, the borrower will continue to work with the city to get a masterplan approved for the entire site that will eventually turn into a phased development. The lots that will be developed on this plot of land will be some of the last lots to be sold. With that said, we expect the loan to go the full duration of the loan term without partial paydowns. 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

Midway Heritage Development, LLC #5352 | UTAH – FUNDED

First Trust Deed collateralized by roughly 24.9 acres of farmland which will eventually be developed into 143 townhome and cottage sized lots as well as a few commercial pads. This is the next phase of the successful Whitaker Farms project the borrower completed a year ago. Although the tentative map has not been approved, part of the site is already zoned to allow higher density townhomes. Over the next six months, the borrower will continue to work with the city to get a masterplan approved for the entire site that will eventually turn into a phased development. The future fundings of this loan will go towards the approval of the final map of the project. Of the 148 approved paper lots this loan is for, there is money allocated for the development of the first 59 buildable lots. Of the first 59 buildable lots, money is allocated for the construction of the first 12 townhome units. In total, this loan will have 84 paper lots, 47 finished lots, and 12 finished townhomes. As of today, it is not anticipated for the development work to begin until July of 2022. Additionally, the borrower already has over 30 reservations for the townhomes

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