All Forum Posts by: Dana Yost

BTW- It is possible to transfer a previously licensed Hawaii county STVR to a new owner when the property/land sells. Just because the tiny house is not permanently affixed and wasn't permitted with building permits, it doesn't necessarily mean the STVR wasn't. I have no idea the current regulations on using movable or temporary structures as STVR, but if that is allowed, the rental might've been permitted. Without further details, we really don't know and the OP hasn't said. This is the application though-

STVR Change of Information

They may be wrong, as far as the part about restricting STVRs. I recall reading there are some 150,000 of them on the Big island (how many are officially permitted though- I don't know). Anyone buying one should seriously research what's possible and be aware there is a move to restrict these short term rentals on Hawaii, as there was recently on Oahu (successfully).

My understanding though is that HPP itself has no defined building codes. They are simply governed under the codes of Hawaii county. Hawaii county does have all the applications and extensive information online about STVRs. It would behoove anyone interested in doing this to not only read up on the current regulations, but to also speak to people "on the ground" in Hawaii county that could guide them on the current environment- legally and politically. No one wants to invest in a property that may soon become illegal or regulated out of business. 

I would say they may very well be correct in the assertion that "half the houses out there are illegal with no permits" though. In the past, HPP has had a bit of a reputation that almost "anything goes" as far as structures on these properties. My recollection is that it was started as a massive block of 1 acre Ag. zoned properties (I would probably read up on that zoning as well if I wanted to legally do a STVR) and it has always seemed to attract people that want to live inexpensively in Hawaii with minimal oversight- hence I've seen structures of all sorts offered there in the past.

Some Hawaii county links-

Short-Term Vacation Rentals

Online Application Links

Potential "Sweeping Changes" Coming

 Most of Paradise Park has much more limited infrastructure than that. AFAIK, unless things have changed very recently, there is no community water, sewer, or electric in most of HPP. It's been that way for years and development has been slow (comparatively). I know there are some paved roads now and I wouldn't be surprised if some limited areas have electric too. Most have traditionally been on some form of water catchment or cistern and septic though. It's always been an eclectic mix of homes and some of the least expensive RE in Hawaii. 

I personally wouldn't invest in Paradise Park AT ALL, unless it's changed radically in recent years. You're seriously seeing comps around $500-$700K??? Surely, that's for properties with sizable homes and infrastructures (something still lacking in HPP)?  I will have to look into that, as that is definitely not what I recall of that area. 

Ok- I just opened a different window and quickly looked and easily found some residential size lots (in established areas of HPP, paved roads, close to the beach) as cheap as $20K, and larger lots up to around an acre for around $100K (or less). That's the Paradise Park I remember. It's good to see that it's becoming more established though! 

Hopefully, they've successfully cleared out some of the riff raff. It sounds like what you're interested in purchasing would be mostly for land value (which has historically been the case with a lot of properties there). I would just advise to proceed cautiously (extra cautiously). 

What is your ultimate goal? To get the deed in the name of the LLC, the loan, or both? Transferring title (name on the deed) is a relatively simple process in a lot of places. The best route for you to take is probably dependent on your end goal and why you want to do this.

If you do definitely also want to change the name on the mortgage, it sounds like they're saying it may be possible for the LLC to assume the mortgage. I would proceed cautiously and make sure your mortgage even says it's assumable. I would not just take the word of a CSR at PHH that it's even possible.

I would speak to a manager (in what I believe PHH calls their escalations department) and verify they even will let you change the name to that of an entity and then find out what they need to qualify the LLC and/or change the name. Again though, it may not even be necessary depending on what your end goal is. If you just need to change title on the deed, that can be as simple as recording a one page Quit Claim Deed (can't say for sure as I'm not in Nevada).

First things first- I wouldn't worry too much about your age. Since your main question seemed to be about networking, there are multitudes of ways to network. I would start at whatever brokerage you work at (presuming that's the licensing structure where you are). 

When they hold events and trainings, actually show up and meet people. If you haven't already, try to find a mentor(s) to help you get started. In addition to taking advantage of whatever your company offers, also try to attend the meetings of your local Realtor association. Also look for online groups and meetups in whatever your area of interest is for your locality. 

I know even Facebook has lots of RE groups by specific location. In my experience, even the smallest of areas generally have at least 1-2 local RE groups/assocs. These groups can be awesome for networking. There's also the long tried and true method of sitting open houses for other agents/brokers in your office. It can be a great way to not only network, and get hands on experience talking to people, but also a source of potential clients. Good luck! 

 The insane lack of inventory is a major issue here and a big contributing factor IMO in what we're seeing with recent bidding wars. Things may have slowed for awhile, but prices really have not adjusted that much either. 

I've personally bid on a handful of properties in the last 4-6 weeks in particular that went into crazy bidding wars (which I refuse to engage in, unless I can justify the numbers, but these were properties that were priced well to begin with). One a couple weeks ago received 26 contracts. Another last week got 18. Several others though that I've submitted on went into multiples within the first 24-36 hours on market and accepted contracts well above list. The inventory being what it is- anything priced right (even things needing gut remodels) seem to still be going under contract almost immediately and at prices that often leave me shaking my head.