Maui, Hawaii Short term Vacation Rental

[Teresa Nelle]

Investment Info:

Other buy & hold investment in Lahaina.

Purchase price: $206,000

My personal home which is a condominium located 1 block to world famous Napili Bay which will eventually be a vacation rental and I will move to a larger home.

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

It was affordable and eventually I can make money short term vacation renting it.

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

I am a Maui Real Estate Agent so I watch for deals. I negotiated personally with the Seller.

How did you finance this deal?

I organized an Owner Financing Contract that was attractive to both of us.

How did you add value to the deal?

The Seller is acting like the bank, making the interest. Also, I made it a short term contract.

What was the outcome?

We are both happy, the condo has already increased by 25% in 2 years!

Lessons learned? Challenges?

Owner financing is a great way to go.

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

Yes, absolutely! Fidelity National Title, Lahaina, HI