First Trust Deed collateralized by two fully developed residential lots situated just west of Interstate 15 in West Jordan, Utah (approximately 15 miles south of Salt Lake City, Utah). Loan proceeds will be used for the acquisition of the lots which average a half acre in size. The borrower has successfully built and sold out of the first phase of the community and has now begun purchasing the lots from the second phase of the community. Over the next six months, the borrower will have purchased all the lots in the second phase. Within the first phase, the borrower built a home that was showcased in the 2015 parade of homes. One of the lots that they will be acquiring in the second phase will become an entrant into the 2016 parade of homes.
Loan Amount: $420,000
Yield:(principal value > $100,000): 10.25%
Yield:(principal value < $100,000): 10.00%
Term: 6 Months with one optional 6 month extension period at maturity.
These investment are on a first come, first serve basis.