New Investor: Boston Background - Honolulu Upbringing

[Reed Sasamura]

Hi everyone,

I must say this site is impressive. There's such a vast amount of knowledge and experience here.

Anyway, I'd like to introduce myself to the community. I've worked in real estate as an agent and eventually manager for 3 years for a semi-large local company in Boston, MA. I specialized in apartment rentals city-wide (imagine something like sales showings, minus the convenience of MLS and client exclusivity) and property management, which in tandem prepared me to provide an accurate market analysis to potential local investors looking at rental income. From my experience I could tell you what kind of tenants you'd likely get given the area and price-point, what units you're competing with locally, what kind of layouts are preferred, what kind of amenities are preferred, and most importantly, if any "deal-breakers" exist in the unit. This would go far beyond a simple CMA off craigslist. That being said, I'd be happy to help anyone in anyway given my limited knowledge and experience.

My real estate experience was only in Boston though. I'm now living in Honolulu, HI with my wife (both of us are originally from Hawaii). We've just purchased our first condo and are excited to enter the world of real estate investment.

Given the local market however (avg. SFR is approx. $750K & condo is around $360K), cash flow via (legal - not illegal vacation rental) rental income is extremely difficult unless you buy all cash. I'm hoping to connect with local investors in Hawaii to see what their buy/hold strategies are, and hopefully mirror their success in my own practice. I'm also curious about purchasing out of state. How have investors seen success investing out of state if their ability to travel is extremely limited?

I look forward to collaborating with you all! Hope you all have a happy new year!

[Account Closed]

Honolulu is a very profitable market.  Vacancy 0%,  no HVAC issues.  Forty years of 6% annual rent growth & 9% appreciation.  I just replaced a tenant that bought with one Craigslist 2 hour open house that resulted in three good applicants.