Stiff.Money » NOTE

Stiff.Money LLC NOTE

FOR VALUE RECEIVED, the undersigned, Stiff.Money LLC (“Borrower”), hereby promises to pay NOTE Token Holder (“Lender”), the principal sum of (the “Principal Amount”), including 10% interest in accordance with the terms set forth here.

Project Summary:

551 Eadon Rd, Toledo, WA 98591

Currently this 10acre property has power installed, and rocked building sites ready for development. Loan will fund the installation of septic, well, and bringing power from the installed meter to two Tiny House locations, and the purchase of two 400sqft park model Tiny Homes. This is a highly desirable area and this property has million dollar views and high speed fiber optic internet. Upon completion of the project one Tiny Home will be rented and homebuyer will refi to payoff Stiff.Money NOTE.

Loan Purpose:

New Construction, improvements to 10acres included septic, water, power, and purchase two Tiny Home Park Models. One Tiny Home produce income as a rental.

Repayment Terms:

Balloon payment of principal and interest returned on or before repayment due date.

Projected Repayment Term:

12 months

Loan Interest:

10%

Repayment Amount To ARV

68.9%

Loan Amount:

$250,000

Repayment Amount:

$275,000

After Repair Value

$399,000

For Sale Comps:

For Sale $299,000
Acres: 5.2 | Improvements: none
1 mile away
View on Zillow

For Sale $1,300,000
Acres: 28.93 | Improvements: none
2 miles away
View on Zillow

Recently Sold Comps:

Sold for $65,000 on 1/28/2022
Acres: 5 | Improvements: none
1.5 miles away
View on Zillow

Sold for $249,900 on 2/18/2022
Acres: 8.47 | Improvements: Power
1.7 miles away
View on Zillow

Home Buyer FICOs:

808 TransUnoin | 792 Experian | 801 Equifax

The Borrower intends to use the loan proceeds to complete a new construction. Upon completion, the Borrower intends to refinance the property to repay the Stiff.Money NOTE Holders.

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