TAX FREE CASH OUT $127,000.00 USD converted B&H to LLC

[KeviMoni Allison]

Investment Info:

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

Purchase price: $555,000
Cash invested: $19,000

We bought this in 2012 with a VA Loan and 2% down and closing costs for a low amount of 19,000 on a then 460,000 note.

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

Owning a piece of paradise

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

Realtor, Fran MacDonald the best on Southside of Kauai!

How did you finance this deal?

VA loan with Wells Fargo

How did you add value to the deal?

VA Loan got us for free a 12,000 septic system and all permits closed by county (Huge relief and less PAIN IN THE OKOLE)

What was the outcome?

We got a home for 19K in Hawaii, that also had a LEGAL ADU. House hacked it and cash flowed month 1.

Lessons learned? Challenges?

B&H, in your name, convert to LLC if and when equity is there, and use cash out to buy more homes. My house bought me more rentals.

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

Yes several, Fran MacDonald, Charlie Fitzgerald, Kevin Hill @ Aloha Captial