I love this project. Why? Because the home seller won big time! This was a nice 2-bed 2-bath condo in the Salt Lake area of Honolulu. Robert was in a position where he had to get to the mainland and didn’t want to deal with all the bank headaches. He called me and we immediately got busy putting together the contract. Not only did Robert get to sell his condo without paying any fees, but he also allowed us to use some of our creative financing strategies.
What we did was this — we paid off his mortgage in full (win), we gave Robert some of his money down at closing (another win), and then he floated some of it until we were done with the property a few months later. What happened to the money he floated (deferred)? It earned interest — a much higher interest rate than he would have received if it was sitting in a bank (MAJOR WIN)! He didn’t need all of his money upfront — so he deferred it and made more money at the end of the day a few months later.
I even bought some of his furniture from him so he wouldn’t have to get rid of it on Craigslist for nothing. That put some more immediate cash in his pocket.
Once we had our closing, my team finished some renovations — mostly in the kitchen and bedrooms — and then we got new happy homeowners in there.
Thanks for trusting Oahu Home Buyers, Robert!