All Forum Posts by: Chris Kua

I live in Hawaii. Found a great deal on a really nice two year old house. I have an agreed upon price with the seller of $150K.

According to my real estate agent, comps have placed a value of $179,000 on this property.

I've got the seller open to carrying back a 2nd mortgage of $25K.

I'm currently working on finding private money for the other $125,000 and obviously securing it with a first mortgage. Don't have the funds yet so if you know anyone open to being secured by a first with LTV of 70%, I'd much appreciate it and of course would cut you in on some coin once I exit.

My credit is not stellar but it's building which is why I'd like to stay away from conventional lending.

Exit strategy would be either Lease Option or Owner Financing with 10%-20% down. This way, I could sell the property for $189k and carve out a pretty nice profit for all those involved.

Any thoughts or comments would be much appreciated. Been outta the game for three years...this is my first deal in this "new" market.

Mahalo!

Hey Darren,

I'm new to the site as well. Not so new to investing, though. I'm in Hawaii which is like a different world. One of my mentors told me that the toughest decision to make in your whole career will be the decision to get started. Congratulations.

With all of the great information here, why wouldn't you want to start your investing career now?

Not difficult, Phillip. You chalk it up to experience and move on. I mean really...what will complaining do? It'll only make you upset and take your focus off your real job of investing.

We all know that in our careers, we're going to have experiences like this. There's no sense in pursuing something that's already done and you can't change. You don't want it to turn into a big deal.

Kick the tenants out, get the lawn mowed, paint the interior then ask your PM to find you a real tenant.

Who are the four gurus you recommend Robert. I put Ron Legrand's Pretty House Course to work and it's done pretty well for me. There are some things that need to be updated but the concepts are spot on. I do have people who call me (well not me, my answering service) and leave their info about selling their home. There's no shortage there.

Just wondering who the other four are?

Helpful information Josh.