Single Family home investment

[Shane Fujimoto]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $863,000
Cash invested: $475,000

I'm owner occupied for a year then plan to rent out the home. I have another home in Mililani under my wife's name. I put this Kapolei home under my name as primary residence, took out a HELOC of 400k and plan to use that money to invest in at least single family but prefer finding a good deal on a Multi Family Property.

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

I always wanted to invest in another property and the interest rates were insanely low and I had to take advantage of that.

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

I found this deal through my local MLS. I setup and automated email to myself with the criteria I was looking for.

How did you finance this deal?

I financed this deal through a local bank at 2.875%.

How did you add value to the deal?

I didn't have to do anything to this home. It's in a good desirable location and the market is hot in this area. The value has gone up by 80k in just a little less than a year.

What was the outcome?

The outcome was great!

Lessons learned? Challenges?

I wish I started earlier. It was challenging because I was purchasing during a time when everyone was bidding way over asking. The home was listed at 840k and I submitted a strong offer with a attractive terms and a large downpayment that help solidify my offer.

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

I'm a new agent and I did the deal myself.