Loan amount
$1,125,000
Loan type
Purchase {Fix&Rent}
After Repair Value
$1,500,000 {PP:$950,000}
ARV
75% {ARV}
Property type
Multi-Family 1-4 Units
Borrower Details
Credit score
680
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Kailua Kona
State
Hawaii
Loan Details
Purchase price
$950,000
Down payment
$25,000
Cost of improvements
$200,000
Estimated property value after repairs
$1,500,000
Additional Loan Information
It’s a single family house that has three units in it. Each has its own kitchen living, dining room and bathrooms. One unit has a 3/2, the other two units are 2/1’s. This house sits on an acre of land in an area that has highly desirable location for rentals. We are in contact with the sellers agent and are looking to secure a loan for 24 months. I’ve been in construction for 22 years and have been a contractor since I was 27. I specialize in remodels and have a crew of 4 guys. I’ve worked on houses that have ranged from 800,000-30,000,000. If you look up Kukio Hawai’i, Hualalai Hawaii, Kohanaiki kona you’ll see some of the houses I’ve helped build.
Status
Created
August 22, 2023 - 2:04am

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