North Shore Retreat LLC is looking for a long-term renovation loan of 100K.
Oceanfront short-term vacation rental with outstanding AirDNA data. North Shore Retreat LLC purchased a property in March 2024, paid for in cash: there is no mortgage, no liens, no tax debt, clean title with home insurance in place. Property is currently under renovation to transform the use from long-term to short-term vacation/Airbnb rental property. This is the first of many real estate investments under North Shore Retreat LLC.
The property is two 3-bedroom units. Cash purchase of 155,000 in March 2024. Value of property before renovation is 175,000. After value renovation of property is conservatively 400,000. Renovation cost is 130,000.
Renovation is currently 25% complete with a contract in place with itemized funding list of project details (can send upon request). Renovation started June 17, 2024, expected to be completed in October 2024, then opened for STR/vacation/Airbnb customers.
AirDNA data shows a conservative average monthly income of 6,000.
Home Insurance is in place with additional 500,000 in liability.
Please contact me with any questions or information requested.
Matt Hamrick
757-404-6295
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