Landlord moving to Oahu in August looking for advice

Landlord moving to Oahu in August looking for advice

Investor · Honolulu, HI · Member since 2014 · 17 posts · 8 votes

Hello!

The BP community has been very helpful over my first few years of investing in Milwaukee so I am hoping I can get lucky again here. My girlfriend and I have 4 rental properties in WI and will be moving to Oahu in August as she is pursuing her master’s degree and maybe phd at UH-Manoa. We would like to continue investing in HI and are looking to do either a live in flip or purchase a multifamily building and live in one unit while renting out and potentially remodeling the rest. Ideally I’d like to stay within 10-20 minutes of the campus. I’ve been looking at houses quite a bit and know the price ranges somewhat, we are looking for a complete fixer upper. I’ve had less luck finding multifamiles. Any input on our situation would be greatly appreciated. Our cash position is pretty strong but our income is lacking right now as I am still looking for a job, any help on that front would be really helpful as well. I am an economist by trade but real estate entrepreneur by passion.

Any help on where to look, who to contact, leads on properties, or just to chat is all appreciated

Feel free to respond here or pm me

Thank you!

Nate

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  • Michael BorgerPro Member
    Rehabber · San Diego, CA · Member since 2010 · 500 posts · 208 votes
    10y

    Aloha, @Nate Maier. That's great that you'll be moving to the islands. The area 10-20 minutes from UHM is a strong one. For the most part, you're looking at a minimum of 600k for a fixer and that's pushing it. Fixers in Manoa itself can go for over 900k alone. You'll find somewhat lower prices in areas like Palolo to the east of campus and maybe Moanalua to the west. You might want to look in upper Kalihi for multi-family.

  • Jason BottPro Member
    Insurance Agent · Nationwide · Member since 2014 · 2k+ posts · 1k+ votes
    10y

    @Nate Maier A few things to check regarding your insurance program before moving to paradise.

    1)  some of the WI insurance companies do not like insuring rental properties for owners living outside of WI. 

    2)  Most of the insurance companies who write insurance in WI, will not be able to write coverage in HI.  So plan on insurning your HI locations with a local HI agent/company.

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