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Commercial Construction Hard Money Loan in York, SC

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Our borrower is purchasing an existing Burger King and then redeveloping the property into a T-Mobile Corporate location. The borrower put the property under contract at an a purchase price is $625,000.00.  While under contract, the site was approved and a long term lease was signed with T-Mobile adding significant value. The projected sale of the property will be $1,685,786.00 at a 7.00% cap rate with a completed loan amount of $1,200,000.  These funds will be issued in draws as work is approved and completed.

Annual Interest Login for details
Term Remaining 10 Months
Payment Monthly
Offering Size $1,200,000

Commercial Construction Hard Money Loan in York, SC Details

Structure

Tax Document
1099-INT
Offering Structure
BPDN
x

SENIOR BPDN - PROMISSORY NOTE SECURED BY COLLATERAL SECURITY AGREEMENT

THIS PROMISSORY NOTE IS SECURED BY THE ISSUER'S PLEDGE OF THE RELEVANT UNDERLYING COLLATERAL LOAN (AS DEFINED BELOW) TO THE LENDER (AS DEFINED BELOW) UNDER THE COLLATERAL SECURITY AGREEMENT AND PROMISSORY NOTE. HOWEVER, EXCEPT TO THE LIMITED EXTENT PROVIDED IN THE PROMISSORY NOTE WITH RESPECT TO THE UNDERLYING COLLATERAL LOAN, THIS NOTE IS NON-RECOURSE TO THE ASSETS, FUNDS AND ACCOUNTS OF YIELDI, LLC (THE "BORROWER", "COMPANY" OR "ISSUER") OR ANY OF ITS AFFILIATES, EMPLOYEES, AGENTS, STOCKHOLDERS, PARENTS, OR SUBSIDIARIES EXCEPT TO THE EXTENT OF THE VALUE OF COLLATERAL LOAN NET PAYMENTS ACTUALLY RECEIVED IN RESPECT OF THE UNDERLYING BORROWER LOAN.

Example Return on Investment

Investment Amount:

Annual ROI:

$0

Why We Like This Opportunity

investment-property-highlights

Property Highlight

Our borrower is purchasing an existing Burger King and then redeveloping the property into a T-Mobile Corporate location. The borrower put the property under contract at an a purchase price is $625,000.00.  While under contract, the site was approved and a long term lease was signed with T-Mobile adding significant value. The projected sale of the property will be $1,685,786.00 at a 7.00% cap rate with a completed loan amount of $1,200,000.  These funds will be issued in draws as work is approved and completed.

About the Neighborhood

York, South Carolina, offers a unique blend of historical charm and modern opportunities, making it an ideal location for businesses. The city boasts a rich heritage, with well-preserved historic buildings and a vibrant downtown area that attracts both tourists and locals. This historical appeal, combined with a supportive local government and business-friendly policies, creates a thriving environment for entrepreneurs and established businesses alike. The availability of commercial real estate at competitive prices further enhances York’s attractiveness as a business hub.

Why We Like this Loan

This borrower is on his 4th deal with Yieldi! The prior 3 have been a success and have all paid off. The borrower has built a relationship with T-Mobile and is actively finding them sites, purchasing and developing them, and then selling them as an exit strategy. He also has a great credit score and we look forward to doing mant more deals with him.

Experienced Borrower

Experienced Borrower

The borrower is a successful real estate investor in high-end real estate industry in Florida. He’s sold multiple Florida homes for over $2M+ and has a high net worth and strong liquidity.

First Priority Mortgage Lien Position

Seniority

The first-priority mortgage lien position is the most senior and highest priority within the capital structure. In the event that a borrower defaults, the lien priority determines the order in which lenders are repaid. Senior lenders are always repaid first. All subordinated positions, including the amount held by the Originator and its investor syndicate, act as a buffer in the event of a deterioration in the Properties’ value.

Personal Guarantee

Personal Guarantee

The Loans are personally guaranteed by the borrower, spouse, and all principals in the LLC. Additionally, the Sponsor and/or Guarantor are obligated to contribute monthly payments to maintain a tax and insurance reserve. Failure to adhere to reserve contribution requirements would lead to the triggering of a debt service and operating expense/shortfall guarantee.

Investment Summary Of Commercial Construction Hard Money Loan in York, SC

Investors have an opportunity to invest in borrower payment dependent notes, the cash flow of which is dependent on the payment of interest and principal repayment on the Loans. Investors are scheduled to receive an annualized monthly interest payment of Login for details over the Loans' estimated remaining term of 12 Months. Principal is expected to be returned on or before maturity through a refinancing with a traditional bank loan. It is important to note that the Loans are eligible for prepayment, and principal may be repaid prior to the 12 Months estimated remaining term. If the Loans are paid off before maturity, investors are expected to receive at least three months of interest payments in addition to return of principal.

How Do I Get Paid?

This loan had an initial term of 12 Months with an option at Yieldi's discretion to extend. As of May 30, 2024 there are 12 Months remaining. Investors will immediately receive monthly interest payments at an annualized rate of Login for details on the principal balance over the life of the loan. If you invest in this loan in the middle of a month, you will receive a prorated interest payment for your investment for your first investment month and then full monthly payments thereafter. All payments are made automatically via ACH on the 1st of each month and investors all paid by the 10th of the month.

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