Our Offerings
Residential Hard Money Loan: Fix & Flip

Greenwich, CT

A classic brick Georgian estate located on 13+ park like acres inside the coveted North Gates of Conyers Farm offering privacy and serenity in its natural surroundings. A brick courtyard with fountain, four-car garage, greenhouse, pool with spa and waterfall, cabana, formal gardens with specimen plantings, and brick terraces and paths provide the landscape for this approximately 12,500 square foot residence.

Annual Interest Login for details
Term Remaining Matured
Payment Monthly
Offering Size $3,825,000

Greenwich, CT 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

Greenwich, CT Highlights

A classic brick Georgian estate located on 13+ park like acres inside the coveted North Gates of Conyers Farm offering privacy and serenity in its natural surroundings. A brick courtyard with fountain, four-car garage, greenhouse, pool with spa and waterfall, cabana, formal gardens with specimen plantings, and brick terraces and paths provide the landscape for this approximately 12,500 square foot residence. The 1st level features a 2 story entry hall with dual staircase, a double-size living room, elegant paneled library, dining room, breakfast room, kitchen, 2 powder rooms, and a master suite with “hers” sitting room and “his” office. There are five ensuite bedrooms and a family room on the second floor along with a covered porch that runs the length of the house. There are extra height ceilings and superb detailing throughout. All the public rooms on the 1st level open to a beautiful covered verandah overlooking the formal gardens and large entertaining terraces.

About the Neighborhood

North Gates of Conyers Farm is a gated community located in Greenwich, CT offering privacy and serenity in its natural surroundings. Sitting along the Long Island Sound, the quiet community of Greenwich is just a short commuter line ride from Wall Street, making Greenwich a popular home for wealthy Manhattanites. This coastal town  is the largest on Connecticut’s “Gold Coast” due to its many hedge funds and large financial service companies, and it has attracted wealthy persons from around the globe due to its low tax rate, school systems, and proximity to Manhattan. Greenwich is home to two of the wealthiest zip codes in Connecticut, 06830 and 06831, with average adjusted gross incomes of $638,560 and $721,550, and median household incomes of $109,250 and $255,417, respectively.  Composed of seven small hamlets, the historic homes and beautifully manicured gardens of Greenwich have made it a popular film location for movies about small town America. Pack a picnic and head to the Greenwich Point peninsula, a favorite beach spot with views of the Manhattan skyline.  Several festivals take place throughout the year for all interests; arts, film, food, and cultural. Take a stroll through Greenwich’s downtown where you can enjoy fine dining, shops, and other attractions.

 

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.

Upfront Reserve

Upfront Reserve

The Loan is structured with interest reserve for further protection.  12 months of debt service payments will be collected at closing.

What Should I Consider When Investing in Greenwich, CT?

Borrower Risk

The Borrower may not have represented itself accurately.

Risk Mitigation

  • The Originator checks the Borrower's credit history via a third-party credit reporting company.  The Borrower has a 700 credit score.
  • The Originator considers the underlying asset to be the primary source of security.
  • If the Loans are not fully repaid after the Lender has exhausted other sources of repayment, the Borrower has provided a personal guaranty to fulfill any deficiency.

Default Risk

The Borrower may default on his financial obligations.

Risk Mitigation

  • If the Loans are not fully repaid after the Lender has exhausted other sources of repayment, the Sponsor has provided a personal guaranty to fulfill any deficiency.
  • In the event of a default, a direction letter signed at closing by the Borrower will be sent redirecting the Tenant to make rent payments into an account controlled by the Originator.

Investment Summary Of Greenwich, CT

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 February 24, 2023 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.

Additional Resources

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How to Raise Private Money for Your Real Estate Investment

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