Kahana Dr retirement plan

[Joseph Cooper]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $529,000
Cash invested: $29,000

Multi family home on 5 acres in North Kohala area on Big Island Hawaii. Purchased as distressed home, made improvements, and rented to single or multiple tenets . Manage for the first 2 yrs and then hired a property manager.

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

I love a diamond in the rough. This property has so much potential

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

Craigslist - negotiated direct with seller at firs and closed with my real estate agent

How did you finance this deal?

Coventional

How did you add value to the deal?

Converted a covers poach to a 2nd bedroom. Turned the apartment above the garage to stand alone with a separate laundry and entrance. Flores paint fixtures

What was the outcome?

Cash flows 500/mo

Lessons learned? Challenges?

Took a long time. Was mor work than expected.

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

Kanoe Lindsey-Sores