Offer may be accepted, no funding in place
I have an offer in on a short sale, and do not yet have funding in place. I expect a response from the bank this week. I am a builder, currently employed rehabbing and building for a GC on high end homes on Maui, who will support me in my ventures. The place needs a replaced kitchen and TLC but my agent tells me I can rent it tomorrow in the location it's in while I work on the rehab. Short rehab time. It has a separate apartment that needs no work. Now is a hot rental market time on Maui. I need $425,000 on a property that has a CMA on ARV of $625,000 conservatively. The loan would cover all costs - purchase, carry, finance, rehab even if no rents were to happen and includes monthly interest payments for 6 months, at which time I would be eligible for refi and payoff. I already have offers to rent rooms in the home.
I am cautious and diligent and skilled in the building trades, construction management and prof projections. I am willing to pay a good rate on this one.
Even if this deal slips between my fingers I am looking to develop long term relationships with private investors as I am finding deals and have the capacity, vision and stomach to rehab.
Anyone interested in talking?
David Maleski
Maui REI Inc
808 868-3200 - office
808 283-1200 - cell
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