Equity Cash-Out Bridge
Vacant Land Hard Money Loan in Hauula, Hawaii
- Loan Amount
- $190,000
- Loan-to-Value
- 26.27%
- Interest-Only Term
- 12 Months
- Private Loan Type
- Equity Cash-Out Bridge
- Approx. Funding Date
- July 29, 2025
- Property Type
- Residential Land
Deal Summary
Myers Capital Hawaii, a residential and commercial mortgage banking company and direct private lender, partnered with its affiliate, Koa Mortgage Fund–a pooled mortgage debt fund—to fund a $190,000 equity cash-out loan secured by two adjacent vacant land parcels in Hauula on the island of Oahu, HI. The loan was structured with a conservative 26.27% loan-to-value (LTV) based on an appraised property value of $723,000. The Borrower owned two adjacent lots—one with road access and the other landlocked with no legal or physical entry point, which limited development potential and reduced overall value. The short-term loan allowed the Borrower to pay off a seller note and use cash-out proceeds to secure an easement and build an access road, improving marketability and creating multiple exit options, including a sale or construction refinancing. The lot size is approximately 13,608 square feet. The Borrower had good credit. They plan to refinance as an exit strategy. The interest rate was 15%. The loan term was set at 12 months. This hard money land loan was funded in July 2025.
Deal Highlights
- Borrower leveraged equity from two adjacent parcels of land in Hauula, Oahu.
- One of the parcels was landlocked, with no physical or legal access.
- Loan proceeds were used to pay off a seller note, secure an easement, and build an access road.
- Exit Strategy: Sell both parcels or refinance with a construction loan.
Property & Loan Details
- Property City
- Hauula
- Property State
- HI
- Loan Term (months)
- 12
- Lien Type
- 1st Mortgage
- Payment Type
- Interest Only
- Property Value
- $723,000
- Property Neighborhood
- Hauula
- Location Type
- Rural
- Property Condition
- Vacant Land
- Lot Square Footage
- 13,608
- Lot Acreage
- 0.31
- Borrower's Plan
- Build and Hold
- Exit Strategy
- Refinance
- Borrower Credit Rating
- Good
- Interest Rate
- 15%
Loan Originator
Reed Myers
Principal
Reed is also Principal of Myers Capital, an award-winning, privately-owned residential and commercial mortgage banking company and direct private lender based in Honolulu, Hawaii. As a second-generation family business owner, Reed is personally involved in over $2 billion in loan originations, helping thousands of clients throughout the country. He holds active mortgage loan origination licenses in Hawaii and multiple states. He is also an experienced real estate investor throughout Hawaii and the mainland. Myers Capital provides efficient mortgage lending and real estate advisory services in 42 states.
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