First Trust Deed collateralized by two fully developed residential lots (404 & 407) 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. Within the first phase, the borrower built a home that was showcased in the 2015 parade of homes. Tailor Built Homes, LLC is the home building arm of Legacy Fields, a land contractor and developer in and around Salt Lake City, Utah.
Loan Amount: $420,000
Yield:(principal value > $100,000): 10.25%
Yield:(principal value < $100,000): 10.00%
Term: Six Months with one optional six month extension at maturity.
These investment are on a first come, first serve basis.