Below are just some of the recent deals closed by Oahu Home Buyers, Inc. (or previously as Big Rock Investments, LLC). Click each photo to learn how we found the deal, how we structured the financing and our renovation plan including before and after photos.
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Ala Poha Street, Honolulu HI 96818
Net Profit: $71,186
I have a special affinity for this transaction because the seller was such a nice gentleman who we helped out in multiple ways. How? 1) We bought his home to avoid a foreclosure. 2) We even bought his furniture as he was moving to the mainland – more money in his pocket to help with moving expenses. 3) He had equity, so he got money back at closing in addition to foreclosure relief. 4) He deferred some of his gains as short-term seller financing during the project at a nice interest rate, meaning…. that the whole time we were renovating the property and working toward a closing, he was earning even MORE money! In addition, our private money lender enjoyed great security on his investment by funding this transaction.
Kipaipai Street, Pearl City HI 96782
Net Profit: $49,755
This Pearl City townhouse flip was unique in that it was both a probate and a foreclosure. That 1-2 combination provided enough seller motivation to make this deal work for all parties. The sellers got money at closing instead of watching the estate get foreclosed upon, while we were able to renovate this townhouse and sell it for a profit on the open market.
Nanamoana Street, Kaneohe HI 96744
Net Profit: $70,106
One of my personal favorites, the homeowner responded to one of our letters in distress. Family and mortgage troubles combined for a situation that called for special expertise. We negotiated with the bank and quickly purchased the home via Agreement of Sale, using both private capital and seller financing (cash at closing, cash deferred at a nice interest rate until we completed the flip) for a trifecta of creative financing strategies. The renovating called for moving some walls and converting a “Jack and Jill” bathroom into two new separate full bathrooms among other rehab items. The result? A beautifully restored home, happy new home buyers, another win for our private lender, a foreclosure avoided, cash in the seller’s pocket and a successful deal for Oahu Home Buyers. That’s how it’s done!
Hoonani Street, Kaneohe, HI 96744
Net Profit: $99,434
This Kaneohe single family house was a fantastic project. Purchased privately from long time, elderly homeowners via Agreement of Sale, we had to fix a lot of concrete spalling and level some floors before completing the A to Z interior renovation. However it came out beautifully! No doubt the new owners were captivated by both the finishes and the beautiful Pacific Ocean views. Our private lender who funded the rehab was also pleased with the prudent, efficient use of her funds to restore this lovely home.
Ala Moana Boulevard, Honolulu HI 96814
Net Profit: $117,612
I always smile when thinking back to this deal. Of course, the profit was a resounding success for us and our private lenders, however the ladies who sold us this unit were some of the kindest people you’d ever meet. As is often the case with our purchases, we bought this unit to help them avoid a foreclosure scenario and did so quietly and privately. We upgraded the flooring, rebuilt the kitchen from scratch, upgraded the bathrooms and performed some other high-end cosmetic upgrades befitting this high-end, ocean-view luxury condo. Not only that, but the seller agreed to a junior position owner financing note and made even MORE from the deal than if they would have taken an upfront cash purchase. Seller financing is a great tool when used properly!
Noelani Street, Pearl City HI 96782
Net Profit: $36,815
Our first leasehold purchase! Actually, we bought the leasehold and fee interest at the same time, effectively canceling the lease and restoring tenure to normal fee ownership. Purchased via private capital, we gave this Waiau Gardens townhouse a nice remodel and sold it to a new family moving into the neighborhood.
Ena Road, Honolulu HI 96815
Net Profit: $39,322
A successful condo flip in Waikiki, Oahu. We purchased this 11th floor unit in the Waipuna building from a kind lady who wished to sell her fixer upper unit privately. We leveraged both private lender capital and seller financing to bring this 2-bed unit back to life and sell it to happy new homeowners.
Luahoana Street, Ewa Beach HI 96706
Net Profit: $101,013
Many people hate short sales. Us? Bring ’em on. We have a great short sale negotiator on our team who knows how to work with the banks. It took about a year, but we bought this single family house in Ewa’s Cortebella, gave it a good makeover and fielded multiple offers on the MLS. The result? A successful deal for our hard money lender and for us.
Distressed properties? That’s our specialty. My team was able to reinstate the owner’s defaulted mortgage, give him money down at closing, take over the mortgage payments, renovate the home to beautiful condition and quickly find a full price buyer on the MLS. The Kaimuki neighborhood is a great one, and we knew our numbers going in. Everybody came out ahead — the owner, our private lender and us. That’s what we always aim for.
Probate and a late mortgage at the same time? It sounds like a difficult scenario — and it certainly can be for many. However, owner Michael Borger was able to negotiate with the existing mortgagee (bank) as well as the apartment association to stave off further court action while we brought the mortgage current, renovated the unit and resold this Young Street condo to new homeowners.
This spacious 2-bed 2-bath townhouse in Hawaii Kai was being used as an island retreat by a west coast mainland corporation. However, in recent years their need and use of the property dwindled and they decided to sell. After some negotiating over the course of a month, we finally acquired the property using private lenders’ capital. We then installed a brand new kitchen, beautiful new floors and other upgrades throughout. We sold the property on the MLS with one of the island’s top brokers and wrapped up this winning project.
This was another winning project. The seller was leaving Hawaii and wanted to quickly cash out of her townhouse. I used two private money lenders to fund and renovate the home, giving it a moderate cosmetic renovation including new flooring, fixtures, paint and appliances among other odds and ends. My broker then sold it on the open market for the top price in the townhouse community.
We bought this single family home in Royal Kunia from a nice couple who was departing Hawaii for the mainland. They wished to sell their home quietly and we were happy to oblige. One of the advantages of being an investor instead of the typical retail buyer is that we have the ability to buy a house quietly outside of the MLS and the public eye (while still going through a title and escrow company). That meant no open houses and prying eyes for the sellers.
Soon after buying the home and putting our sign out front, we got a call from a couple who knew the previous owners and were familiar with the home. We quickly got everyone on board and allowed them to customize many of the cosmetics to their liking. In the end, we wrapped up a beautiful project and the homeowners got just the home they wanted.
A great project. The seller was the executor of his friend’s estate and was looking for a simple, private closing. He also wanted to delay closing until the springtime when it would be warmer in his mainland destination. Leveraging both a hard money lender and a private money lender, my team fully renovated the property and sold it on the MLS to new, happy homeowners.