Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Barry L Hohstadt

Barry L Hohstadt has started 7 posts and replied 24 times.

Post: Vacation Rental Analysis Help

Barry L HohstadtPosted
  • Kailua Kona, HI
  • Posts 24
  • Votes 5

@Kyle H. you say that your VR are one bedroom units, but you do not have a HOA. I am curious what kind of properties are these? Thanks

Post: Monthly Condo Fees Questions

Barry L HohstadtPosted
  • Kailua Kona, HI
  • Posts 24
  • Votes 5

Thanks for the great  info. I am not sure how many units but it is a good size complex and a popular one as far as I can tell. It was built in 1969 so it may be due for some major renovation. I looked at a listing for a two bedroom in the same complex and the total monthly fees are 1672. Add that to the mortgage and it make no sense to purchase based on other properties that are available among other obvious reasons.

Post: Newbie Moving to Kona HI

Barry L HohstadtPosted
  • Kailua Kona, HI
  • Posts 24
  • Votes 5

Hi Carlos,

Thanks for the great info. Kona certainly looks to be a unique challenge. I am keeping an eye on other areas, as you suggest.  I did recently learn about the Lava zones and the impact they can have on financing and insuring a home. 

I have been studying the condo market for vacation rentals and they are all over the place. Two weeks ago my search for 1bd condos pulled up properties averaging 100 - 135 a night. The same search now pulls up a lot of units going for 80.

More work to be done!

Post: Monthly Condo Fees Questions

Barry L HohstadtPosted
  • Kailua Kona, HI
  • Posts 24
  • Votes 5

Thanks Frank! This is in Kona, HI. It is the first one I have seen that charges a reserve. I had previously assumed that reserves were built into the HOA. More education needed!

Post: Newbie Moving to Kona HI

Barry L HohstadtPosted
  • Kailua Kona, HI
  • Posts 24
  • Votes 5

Thanks Ali! We are looking forward to Kona.

Post: Monthly Condo Fees Questions

Barry L HohstadtPosted
  • Kailua Kona, HI
  • Posts 24
  • Votes 5

Hi Folks,

Looking at a condo that has a very attractive price point but the monthly fees are very high. Is it normal to pay a monthly reserves fee on top of the HOA? 910 a month on top of the mortgage would take a big bite out of cash flow as a rental.

Well maintained ocean front complex withnew elevators, large open parking lot. 24/7 on site property management, roaming security. Maint. fees.................$510.00 Reserves....................$340.00 SBA...........................$6.00 LTD CE reserve................$54.00 Total................$910.00 Monthly fees include: Air conditioning, cable, quarterly pest control, trash, hot water, sewer, water, on site property manager, roaming security,maintenance for two pools, beach area, BBQ area, Cabana, lobby, stairs, elevators, parking.

Post: Newbie Moving to Kona HI

Barry L HohstadtPosted
  • Kailua Kona, HI
  • Posts 24
  • Votes 5

Thanks all, good info. Jeremy I have an agent or two that I have talked to so I am good for now, at least until I get closer to moving. 

Mark, thanks for confirming what I was thinking. After watching the market for a couple months I have seen very few rehab opportunities, at least that make it to the MLS or Craig's list. I imagine once there and networking more opportunities could be found. I'll take a look at Puna.

Good grief, is no one investing in the Big Island?

Post: Newbie Moving to Kona HI

Barry L HohstadtPosted
  • Kailua Kona, HI
  • Posts 24
  • Votes 5

Hi Randall, sounds like we are in the same boat right now. I am really up for whatever niche makes sense, although starting small scale. I am thinking condos to get started, especially if there are rehab opportunities. I am just now starting to work the numbers for vacation rentals. Obviously a lot of investors are doing it, but some to make income and others to subsidize there own vacation home. I am on board for managing vacation rentals if they pencil out. It looks like there may be a shortage of long term rentals for all the tourism employees, so I am thinking about that too. I do agree with you, being there is probably necessary. I think we will be there in about six months. Thanks for the REIA info, I had not known about that. I have been in contact with an agent, I'll let you know how that pans out. Let's keep in touch.

Post: FHA Loan for First Investment

Barry L HohstadtPosted
  • Kailua Kona, HI
  • Posts 24
  • Votes 5

Thanks for the great info guys.  Brian, my CH 13 was discharged in January, all the payments were on time and everything was paid off. But I will still need a history of income high enough to make payments.  It sounds like my plan will not work. I just hate to move and get tied into a rental lease instead of using that money to invest. 

What if I used hard money to rehab, assuming it was a great deal, and then needed a conventional loan, would that make a difference? Thinking of the BRRR strategy.