Hawaii Vacation Renal Investors

[Susana McIntosh]

Investment Info:

Condo other investment.

Purchase price: $275,000
Cash invested: $68,750

2bedroom 2bath condo across the street from the beach and zone as a STVR.

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

Cashflow

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

Found this deal through a realtor that sold us previous vacation rental and I asked her to make sure to send me other vacation rental when it comes up.
How did I negotiate the deal? I wrote down how much will cost me to have the place ready as a vacation rental and took that off from their asking price and then presented my offer to the agent.

How did you finance this deal?

Myself and my partner both had W2 at the time and were in the middle of finance, then covid hit, lost our W2 and ended up renegotiated with the seller to do owner finance at a 4% interest rate with a one-year loan. Long story short I picked up a W2 and refinance the property and purchased another one right after that.