All Forum Posts by: Cassie Chun

@Zasha Smith 

Check out Cory Nemoto with KECO Capital    

I became a landlord without intentions or awareness of real estate investing when we moved into our current home and decided to rent our condo. Six years later I began listening to podcasts on real estate investing because I wanted to learn something new while working out at the gym. It was totally a random pick but it didn't take long for me to get hooked. 

I started out thinking there is no way I can invest in Hawaii because it's so expensive. I went down the path of working with an out of state turn-key provider, got a property under contract in Ohio, then realized that I wasn't ready to invest out of state. I wanted to find a way to make something work in my local market. That's when I met @Isi Nau right here on BP and after several discussions with him was convinced that I could find a deal on island. 

I am a newbie buy and hold investor, following a "slower" path to wealth building. I happen to enjoy my W-2 job, so my goal has been to supplement that with cash flowing properties that will provide additional income now and in retirement when they are (hopefully) paid off. 

With that said, I will admit that scaling your portfolio is challenging in our market, especially because you typically need to put 20-25% down for investment properties. Depending on your individual circumstances, there are definitely ways to get in for less. If you find yourself feeling discouraged because the prices in Hawaii are so high, it probably means you are looking at all the wrong properties. Meet with an agent like Isi Nau who is also an investor and he can show you that it's possible to invest in Hawaii.

@Rachel Ararasato

I have personally met a dozen people who are doing well with real estate in Hawaii, and I'm sure there are thousands more. Each person has a unique investing style or niche. I've met flippers, buy and holders, commercial investors, STR investors, and everything in between. There is so much to learn in real estate, it can be overwhelming if you don't narrow your focus and hone your investing style and goals. @Greg Gaudet has proved that deals can be found in Hawaii and success is achievable.

Best of luck to you!

Hi Nicole,

I think I was in the same boat as you not long ago. I am still relatively new to investing, but have acquired 2 rental properties over the past 8 months. 

One of the concerns I had when looking at out of state investing in areas with potential for higher vacancies is the associated cost of getting the unit turned over. A monthly cash flow of $160 (under $2000/year) can erode quickly on turnover expenses. It might be worth asking the PM what typical turnover expenses you might expect to pay. I like to be very conservative with the proforma expenses and see if the deal is still sweet enough to pursue. Just something to consider. 

With all that said, I do not invest out of state and instead work very hard to find deals in Hawaii. Best of luck to you!

Lane does not own property in Hawaii. He is referring to his out of state SFH portfolio.

@Dustin Amodo

I met with a couple different CPAs on island and landed with Rodney Harano. Five three one one zero four zero. He was referred by another REI. DM if you want his direct line.

I’ve noticed that one of my tenants consistently pays the rent on the 5th of each month. My lease states that rent is due on the 1st of the month with a 3 day grace period (this tenant specifically asked for 3 days). I’m guessing pay day is on the 5th. On the 5th of each month I get rent + late fee automatically deposited into my account. Should I offer to extend the grace period to coincide with pay day? I feel bad about collecting a late fee each month for rent being 1 day late, especially for someone who appears to be living paycheck to paycheck.

If anyone has experience with this specific situation and decided to be more accommodating, how did things work out?

@Matthew McNeil

Great point! I don't intend for him to do repair type maintenance, only routine maintenance of the yard.

@Jason D. @Robert Biggerstaff @Christina Linn @Twana Rasoul

Thank you all for your recommendations!

One of my tenants is going to do the yard work/maintenance regularly. Is it better to take $100/month off his rent (make less income) or pay him $100/month (have more expenses)? In Hawaii, we pay 4% general excise tax on rental income. From a tax perspective, I'm not sure if it's better to have less income or more deductible rental expenses, or would it not matter either way?

@Joel Bongco

Maybe you can assist Jon with possible paths to recovery or escape?