All Forum Posts by: Bryan Vukelich

Hi Bryrick,

Are you currently working with a realtor? I'm an agent for Hawaii Life - the largest independent company in Hawaii. I service O'ahu but know some excellent agents on Big Island. One of them I recently spoke with has a pocket SF listing that is legally permitted for STR's. I'm not sure if it is still available but believe seller wants around $1.7M for it. Let me know if you'd like me to refer you to an agent on Kona and/or Hilo side.

Best 

Hi Jonathon - it really comes down to what you are comfortable with. My approach these day is with interest rates being so low, I try to take as much debt as I am comfortable with and to keep cash on hand for other opportunities as well as for peace of mind.  

If you used more of your capital for a down payment, where would you get the funds to do capital improvements?  

Hi Jennifer,

It all depends on what your real estate goals are, which you can only determine for yourself.  What made you originally buy the house?  Personally, when I contemplate whether to continue holding or to sell a property, it usually comes down to opportunity cost.  Could I allocated those funds somewhere else and potentially earn a higher return.  But here are some things I recommend you consider:

* Would you want to keep it as a STR? If so, would you self manage or hire someone?

* What is realist earning potential as a STR? What kind of rate of return on your money would the provide you?

* Can you refi your current mortgage?

* Can you possibly do a cashout refi and reinvest those proceeds elsewhere and be cash positive?

* Do you believe real estate values will continue to appreciate in Cape Code?

* If you sold, are there other places you can invest to earn a higher return on your money.  

* And what are the tax ramifications if you sold and kept the cash?

Hi Ellen, I occasionally come across off-market properties that are in need of rehab.  What areas of O'ahu would you consider buying in?  And please also share the types of properties and amount of required rehab you prefer -  that would be very help and I'll see if I can send something your way.   

Thank you 

@ travis hill many thanks for the info and feedback.  Have you bought anywhere else in Idaho?  Curious - what attracted you to Idaho Falls?  Best of luck 

@Bryan Vukelich Hi Michael, happy to get your message.  Unfortunately the agent who represented us on the purchase of that property did something unethical and thus I don't recommend him.  But my brother, Brandon; has established a new relationship.  He recommends you contact Tim Burroughs with ReMax. (I tried to post his # and email but won't allow me to)

And can relate to your comment that there hasn't much of anything of interest on the Boise MLS for awhile. Feedback we've gotten from locals there is that the local smart money is currently on the sidelines. But with this virus, maybe some opportunities will arise. We still like the market but our property management company says there are rumors of potential new regulations that are pro-tenant.

You do any investing in W. Washington?    

@ Dan Spafford  Thanks for your message and for the info on Eastern Idaho.  We would like to buy something in Idaho Falls, but seems like we are late to the game - at least for now.  How is the property management going?  Are many tenants asking for deferrals or payment plans in that area?  

Investment Info:

Single-family residence buy & hold investment in Tacoma.

This is a single family home my brother and I initially were planning to wholesale but after we got it under contract, we decided it could make a decent rental.

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

Purchase price

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

Owner was selling it and negotiated price over several weeks via phone and email.

How did you finance this deal?

Initially hard money and then afterward secured long term financing with bank.

How did you add value to the deal?

Improved the landscaping, new roof and did a interior cosmetic remodel.

What was the outcome?

Working out well.

Lessons learned? Challenges?

Owner was a challenge to work with and since he wanted a quick close and we were happy with the purchase price, we opted not to scope the sewer line (despite homes of this age in the area after having lines collapse). Well about a month into owning it, the sewer line collapsed on us.

Investment Info:

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

Purchase price: $460,000
Cash invested: $60,000
Sale price: $650,000

This was a tri-plex I acquire when I moved back to Seattle. I lived in the top unit and rented out the other two units.

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

I was moving back to Seattle and wanted a multi family property were the tenants could pay all, or a majority of my mortgage.

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

I was a licensed agent in Washington and found it on the MLS.

How did you finance this deal?

Bank financing.

How did you add value to the deal?

Did some lite remodeling to the units, and improved the landscaping.

What was the outcome?

Was a nice return on my invest thought I sold too soon. Would have been a great investment if I held it a couple more years.

Lessons learned? Challenges?

Big challenge was the first floor unit developed a mold problem and also had strange odor. Tried several ways to remedy the mold as well as improve air quality. None were successful long term. Finally I was referred to a handy man that started doing exploratory work and amazingly found a a small crack in a drain line from the upper units that was locate between a bathroom and bedroom. Once this was repaired, problems went away.

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $60,000
Cash invested: $10,000
Sale price: $1,550,000

First property I was part owner of. Located in beautiful and desirable Ballard - formerly quaint abut now trendy NW neighborhood of Seattle.

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

Located in very desirable neighborhood of Seattle.

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

Found my family friend.

How did you finance this deal?

Bank financing

What was the outcome?

Was a successful outcome - over the years Seattle grew as a city and Ballard become a "hot spot."