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Utah

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

By |January 26th, 2022|Funded Investments|0 Comments
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FIG Cooper Woods, LLC #5272 | UTAH – FUNDED

The collateral for this loan consists of seven acres of residentially zoned land in Roy, UT (approximately four miles west of Ogden, UT and 35 miles north of Salt Lake City, UT). The borrower typically has the projects they acquire fully entitled with site plan approval; this project is a bit different since they will be selling it to one buyer upon completion. The borrower has worked with the city to get conceptual approval for 82 townhomes and expects the buyer to get final map approval after the partially entitled project sells. The buyer for the soon to be fully entitled land has purchased many assets from this borrower over the past few years. It is anticipated the loan will be sold to the buyer in about three months. In the unlikely event the borrower is unable to sell the project in short order, they will develop the land and sell the townhomes to their long waitlist of investors. Loan Amount: $2,200,000 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

By |December 3rd, 2021|Funded Investments|0 Comments
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Harris53 Apartments, LLC #5268 | UTAH – FUNDED

The collateral for this loan is an approximately 2.885-acre site that will be entitled to allow for the construction of a 454-unit, seven-story apartment complex. With a unit mix of 22 studio’s, 280 one-bedrooms, and 152 two-bedroom units, the project is geared to smaller units focused toward the more cost conscience renters. With final plat approval anticipated for January, the borrower is in the process of getting final general contractor pricing for the build job which will put them in a position to get construction financing. Loan Amount: $9,450,000 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 6/6/23.

By |November 19th, 2021|Funded Investments|0 Comments
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Eagle Physical Therapy, LLC #5246 | UTAH – FUNDED

The collateral for this loan consists of a 3,007 square foot home in Lehi, UT which is 27 miles south of Salt Lake City, UT. Built in 2009, the home is in good physical condition with only minor cosmetic repairs necessary to reposition the asset to sell again. With some minor stucco work and grading the slope of the soil away from the five bedroom, three bath house, the borrower and his contractor are more than capable of making the necessary changes. Once the property repairs are performed, the borrower anticipates listing the home for $620,000 which is more in line with what a property of this size and condition should be selling for. The purchase price is $501,000 with an anticipated budget of $3,000 to fix the necessary repairs. Loan Amount: $400,000 Yield: 10% iterest 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 optional extension at maturity. Final maturity date is 8/2/22.

By |November 8th, 2021|Funded Investments|0 Comments
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Vanquish Capital, LLC #5244 | 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). The borrower typically has the projects they acquire fully entitled with site plan approval; this project is a bit different since they will be selling it to one buyer upon completion. The borrower has worked with the city to get conceptual approval for 294 townhomes and expects the buyer to get final map approval after the partially entitled project sells. Although the property is not under contract to be sold yet, there are two buyers very interested in the property and it is expected to be under contract in the next two weeks and to be sold within six months. In the unlikely event the borrower is unable to sell the project in short order, they will develop the land and sell the townhomes to their long waitlist of investors. Loan Amount: $5,600,000 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 nine-month extension

By |October 27th, 2021|Funded Investments|0 Comments
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Bel Canto Utah I, LLC #5223 | UTAH – FUNDED

The collateral for this loan is an approximately 9.33-acre site that will be entitled to allow for the construction of a 237-unit, four-story apartment complex. With a unit mix of 36 studio’s, 107 one-bedrooms, and 94 two-bedroom units, the project is geared to smaller units focused toward the more cost conscience renters. With final plat approved in July of this year, the borrower is in the process of getting final general contractor pricing for the build job which will put them in a position to get construction financing. Loan Amount: $3,408,000 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 3/26/23.

By |September 16th, 2021|Funded Investments|0 Comments
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FIG Jackson Crossing, LLC #5179 – 5191 | UTAH – FUNDED

First Trust Deed collateralized by a 17-acre parcel of a residentially zoned property approximately 40 miles north of Salt Lake City, UT. Since going under contract to purchase the property in August of 2020, the borrower has worked with the city to get approval to build townhomes on the site. Since getting the city approval to build 221 townhome units the borrower will close on the purchase of the property and continue working with the city to get a final map approved for the development. Tranche Loans: Estimated Date - Estimated Amount - Loan # 8/11/2021 - $420,000 - #5179 8/11/2021 - $420,000 - #5180 8/11/2021 - $420,000 - #5181 8/11/2021 - $420,000 - #5182 8/11/2021 - $420,000 - #5183 8/11/2021 - $420,000 - #5184 8/11/2021 - $420,000 - #5185 8/11/2021 - $420,000 - #5186 8/11/2021 - $420,000 - #5187 8/11/2021 - $420,000 - #5188 8/11/2021 - $420,000 - #5189 8/11/2021 - $420,000 - #5190 8/11/2021 - $420,000 - #5191 11/26/2021 - $420,000 - TBD - Not open for investment at this time 12/31/2021 - $420,000 - TBD - Not open for investment at this time 1/28/2022 - $420,000 - TBD - Not open for investment at this time 2/25/2022

By |July 27th, 2021|Funded Investments|0 Comments
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Huish Construction, LLC #5044-5049 | UTAH – FUNDED

First Trust Deed collateralized by a seven-acre parcel of land approximately 50 miles southeast of downtown Salt Lake City, UT and 20 miles south of Park City, UT. The borrower is under contract to acquire this 3,700 square foot home and the remaining acreage from the trustee of the estate. Once they own the property, they will work with city officials to get the property subdivided into five additional lots. Each of the five newly created lots will be over an acre and be valued at nearly $200,000 each. As a developer and builder himself, the borrower will complete the land development of the newly created subdivision and built through the community. Preliminary discussion with the city about the subdivision have been positive and the borrower anticipates getting fully approved in three months. Master Loan Amount: $1,500,000 Yield: 10.00% (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: 9 months with an optional nine-month extension period at maturity.

By |March 17th, 2021|Funded Investments|0 Comments
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Midway Heritage Development, LLC #4796 | UTAH – FUNDED

First Trust Deed collateralized by roughly 24.9 acres of farmland which will eventually be developed into at least 160 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 recently completed. Although the tentative map has not been approved, part of the site is already zoned to allow higher density townhomes. Over the next year, the borrower will work with the city to get a masterplan approved for the entire site that will eventually turn into a phased development. As of today, it is not anticipated for the development work to begin until June of 2021. Additionally, the borrower already has over 20 reservations for the townhomes and two of the commercial pads even though homes won’t be finished for at least 18 months. Loan Amount: $11,900,000 Yield: 10.50% (Principal Balance ≥ $100,000); 10.00% (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: 9 months with one optional 9-month extension period at maturity. Looking for an updated? Take a look at this video taken in January 2023: https://vimeo.com/786705835

By |August 27th, 2020|Funded Investments|0 Comments
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Tailor Built Homes, LLC #4536 | UTAH – FUNDED

First Trust Deed collateralized by a soon to be fully developed residential lot (0.19 acres in size) located in Holladay, UT (approximately 17 miles southeast of downtown Salt Lake City, Utah). Loan proceeds will be used for the construction of a three-bedroom, two and a half bath home. The home will be a total of 4,065 square feet with 2,690 square feet of finished space (does not include the partially unfinished basement). The borrower is acquiring all three of the partially finished lots at the end of the street. Money to complete the development will be held at the title company out of the sellers proceeds to complete the development work. The borrower will start all three homes shortly after the development is completed. Loan Amount: $575,000 Yield: 10.25% (Principal Balance ≥ $100,000); 10.00% (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: Six months with an optional six-month extension at maturity.

By |June 12th, 2018|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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