Creative Deal - Finance Help Needed! (Primary)

[Neno D.]

Hey everyone,

I’ll keep it to the point! We need help strutting a deal. Any insight and/or recommendations would be so amazing! We are seasoned investors with a good size portfolio, just need help on this one…it’s in Maui. Primary residence. 

House listed at $2.0m
U/C at $1.7m
PP + rehab would give us a final loan amount around $2.1 ($400k rehab)
ARV ~$3.0m
we only have 250k cash for the deal. Does anyone know of a product, or a strategy to make this work? Or any lenders with a product that can make this work? 

[Neno D.]

Quote from @Chris Seveney:

Quote from @Neno D.:

Hey everyone,

I’ll keep it to the point! We need help strutting a deal. Any insight and/or recommendations would be so amazing! We are seasoned investors with a good size portfolio, just need help on this one…it’s in Maui. Primary residence. 

House listed at $2.0m
U/C at $1.7m
PP + rehab would give us a final loan amount around $2.1 ($400k rehab)
ARV ~$3.0m
we only have 250k cash for the deal. Does anyone know of a product, or a strategy to make this work? Or any lenders with a product that can make this work? 

 Moment you mention you will owner occupy it that takes a lot of options out of play due to dodd frank. While you mention it’s are not a flip, have you ever done a $400k rehab before?

We are currently managing a ~100k rehab in the same town on a rental. We have managed a $75k apartment rehab at one of our apartment buildings. Nothing of that size but $225k of it is for a pre-fabricated Ohana so the actual “rehab” is going to be less. Rehab will be for the main house that’s a 4/3 + garage and deck and the rest for the aforementioned Ohana.