Former Primary Residence

[Jonathan Taoka]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $515,000
Cash invested: $30,000

Bought as a primary residence with the intent to rent it later.

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

This is one of the most viable ways to get an investment property while living on Oahu. My wife and I have a modest income but wanted to avoid the rental trap.

How did you finance this deal?

Conventional mortgage

Lessons learned? Challenges?

Many town homes on Oahu are getting older and will have plumbing issues at some point. If you are buying any type of property with a shared wet wall it is a good idea to order a scoping before buying it. Also verify with the association or through the condo docs who is responsible for those types of repairs.