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Updated over 2 years ago, 04/04/2022
Rookie investing in Hawaii, need some advice!
Hello everyone,
I'm finishing up school in Boston and thinking about relocating to Oahu, Hawaii in September ( I know, literally across the whole country). But I think it's good to get myself out there and get some new experiences. Anyways,
I would also want to use this opportunity to start my real estate investing journey since I've been following bigger pockets for a while now. I don't really have much money laying around, only enough for a downpayment. Talked to a loan officer, he said I can probably get a loan of around $300K
After doing a little research about the housing market I was quite surprised. A lot of the real estate is leasehold (which means you will never really own the land and you will have to give it back after a certain amount of time) but yet, but these properties are still being listed in the 200k range and most of them are studio/ 1bedroom apartments...
Aside from that, a lot of these apartments have crazy HOA fees! which definitely adds up to the mortgage payment...
I'm wondering if there are any properties around $300k that I could maybe do a BRRR?
Would it be better to buy a property at that price range and use it for air b&b rental? and I would just rent with some roommates?
What would you do if you were in my shoes?
-YuYing :)