Financing a Vacation Rental Property: How We Helped Our Client Secure Properties in Hawaii
Elevated Ventures, Limited is a real estate company specializing in vacation rentals in the picturesque setting of Hawaii.
The Challenge
A lineman from South Dakota dreamed of escaping the cold and relocating to Hawaii. After a career of grueling winters and back-breaking work, he was keen to set himself up for a retirement surrounded by palm trees and ocean mist. In 2019, he aimed to start building financial security for his retirement by investing in real estate in Hawaii. However, this entrepreneur faced a few challenges. His credit score was 650, which needed improvement to qualify for the substantial loan needed for property investment. This presented a hurdle in securing the substantial loan needed for financing a vacation rental property.
The Solution
Omni Resources provided a multifaceted solution to help this entrepreneur realize his dream. Our team directed him to a licensed, state-approved credit repair agency partner to improve his credit score. This partnership was crucial in boosting his credit to qualify for larger loans.
Omni walked him through every avenue to secure funding for his property purchases. Leveraging our network, we connected him with essential contacts in Hawaii who could facilitate the funding process. Throughout the journey, our team provided continuous support and strategic advice, ensuring this business owner was well-equipped to make informed decisions in his budding real estate venture.
The Results
With the help of the credit repair agency, the entrepreneur significantly improved his credit score, making him eligible for the necessary loans. He successfully acquired two properties in Hawaii, fulfilling his dream of relocating to a warmer climate and establishing a foothold in the real estate market. With a solid foundation in place, Elevated Ventures now aims to grow their real estate portfolio, leveraging the expertise and network provided by Omni Resources. The journey from a lineman in South Dakota to a successful Airbnb property owner in Hawaii showcases the transformative impact of Omni Resources’ tailored financial and strategic solutions.