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Deal Details
Private Loan Type
Residential Fix and Flip
Approx. Funding Date
04/26/2019
Property Type
Property City
Haiku
Property State
HI
Lien Type
1st Mortgage
Payment Type
Interest Only
Renovation Budget Funded
100%
Loan-to-After-Repair Value
71%
Deal Summary
RCN Capital, a national direct private lender, funded a $997,286 1st lien position fix and flip loan for a rehab fix & flip SFR in Haiku, Maui Island, Hawaii. The Borrower is a repeat client and experienced property investor with over 10+ verified real estate investment properties completed. He was looking for the funds to purchase and renovate this property in Hawaii. RCN Capital was able to provide a loan at 71% of the After-Repair Value plus 100% of the renovation costs. Once the project is completed, the investor is looking at a 26% return on investment. This SFR hard money loan was funded in April 2019.
Funded By
RCN Capital
Direct Lender for Residential Fix & Flip, Long-Term Rental, Bridge Loans