Why we like this deal?
Beautiful North Shore Hawaiian Estate on the beach. This property has been grossing about $600,000 annually from it’s event rental business.
The borrower has been growing their destination rental business for about 7 years.
The loan to value (LTV) provides a 50.7% cushion of equity.
Additionally, the rental income is $600,000 annually and is 7.05 times the debt service coverage ratio (DSCR). This opportunity presents an investor with a commercial note at 10% for 2 years, secured by a recorded first mortgage lien or deed of trust on this property.
Why the bank can’t lend
|Loan Term:||2 years|
|Source of Income:||weddings|