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Updated almost 7 years ago,
Feedback on Hawaii Investment Property Needed!
Aloha All! I'm a Realtor on Oahu and have a 3 duplex (6 separate TMK's) rental compound listed in Hauula, HI (Northest Oahu). It's been slow going so I'm looking for feedback from investors on where this needs to be price (and/or other wise) to make it more attractive.
Owner hasn't given 2017 totals yet but in 2016 the units netted $224,549.08 as rentals. That's after paying management and cleaning fee's of $69,718.78 (which could potentially be reduced) along with other fees like maintenance, insurance, etc...Gross revenue was $352,959.56. I know 2017 brought in less revenues as the owner turned over management to a rental management company that wasn't performing as well with it when we listed the property for sale mid 2017. Prior to that, he had a full-time manager taking care of it but pulled her into a separate business that was bringing in more profit.
Any advice / feedback would be welcome!