Long term investment

[Ronald Minton]

Investment Info:

Condo buy & hold investment in Kailua.

Purchase price: $329,000
Cash invested: $35,000

A condo in Kailua Hawaii.

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

I just wanted to get into the market in my home town. That’s getting extremely hard with limited inventory and outrageous prices.

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

Found it through a realtor friend. There were multiple offers but the family knew ours.

How did you finance this deal?

Started with a VA then recently refinanced to a conventional.

How did you add value to the deal?

Painted and fixed it up ourselves to save money. Also one of the few pet friendly condos.

What was the outcome?

Been renting it for years with no issues.

Lessons learned? Challenges?

Trying to find a way to cash flow.

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

Corinda Wong from Locations Real Estate in Kailua.