Hilltop estate Hawaii investment property on West Oahu

[Munro Murdock]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $1,389,000
Cash invested: $200,000

Beautiful luxury executive estate home with 4200 sq. ft. and expansive ocean views. 4BD 4BA. Was our primary residence for a time and is now a long-term rental property with excellent cashflow.

What made you interested in investing in this type of deal?

Amazing home and location. Finishes are unreal and we purchased it for less than what rebuild / land cost would have been for sure. Excellent appreciation over the past couple of years as well. Great residence for our family and now being used as a long-term executive style rental property.

How did you find this deal and how did you negotiate it?

On market deal, worked on it broker to broker (I'm licensed and self represented), jumped on it right away and got our offer in, along with a solid cover letter. Was able to get the seller to accept a price $65k below list with other parties with interest as well. They really liked our family and could see that we would love making the home our own.

How did you finance this deal?

Equity funds from the sale of our then primary residence, as well as conventional long-term financing through a local lender.

How did you add value to the deal?

Impeccable offer documents package and solid qualification docs to show that we had funds and were approved for the loan amount we were going for.

What was the outcome?

Everything worked out pretty smoothly and we LOVE the house.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, I'm a licensed broker so I represented my family. The Seller / Owner was a broker as well, but since it was being sold due to a divorce situation, they had to hire a 3rd party agent for the deal. Agent wasn't the greatest, but we made it work.