Finding an Investor/Partner on Hawaii Home

[Lyndsey Gordon]

Hi All! My husband and I have been presented with an amazing off-market opportunity to purchase our neighbors home in a highly desirable beach community on Oahu. This is home is truly our dream home. Unfortunately, lenders are telling us we need additional years of our self-employed income before we can qualify for the loan. The home has a vacation rental that produces anywhere from $3500-$7500/month of income, which lenders also will not take into consideration. Based on the current market here & comps, we figure a fair market value price is $1.7mil. We have a strong lease-to-own agreement to present to him but we are looking for additional offers we could make. 

We were thinking of searching for a partner on the home or someone who could help us offer cash & we then structure a seller-finance deal through the investor at a higher interest rate for X amount of years until we can buy them out. Does anyone have any ideas or thoughts on this? 

[Lien Vuong]

Have you considered private lending options as well as commercial financing? They would be able to count the rents in the property to qualify it.