All Forum Posts by: Janice V.

With the delayed reopening of our state of Hawaii what’s your plan for all your short term vacation rentals in Maui? Are thinking of pivoting to long term rentals or thinking of selling?

@Alex Ibarra

Hi! I wasn't able to show up this weekend, had to fly back to Las Vegas but I have couple STR's in Maui.

@Maalaea Banyans

Mark is right, this is for SFH's that are conducting as STR's. Mayor Victorino is pushing to have more homes available for locals to live in rather than out of state investor create an income from STR. Those condos are "zoned" for vacation rental isn't affected.

@Jennifer Pauyo

Investor here! Started in SFH to multi family then to MHP and now I'm in vacation rental in Hawaii. Getting my license to close my own deal. Glad to see there's good amount of women investors in here.

@Nick Rittmann

I personally don’t know why they don’t list it as multi heck they don’t even seem to list it in major sites. I’ve drove around and notice majority of homes are not listed in Zillow. I found Keller Williams agent app able to pull all the listing from all the local broker.

So, I’m from Oahu and left the island when I was in my 20’s to travel and live around the world, I felt at that time I was having island fever. Lived overseas for almost a decade I then settled in Las Vegas almost 10 years ago when I got into real estate investing. Visited Maui summer of 2018 for my son’s birthday and felt time to come back home and raise my son there. Warm weather, warm people and most of all.. there’s a lot of opportunity when it comes to business and real estate (which another story) hahah I cant share too much or else everyone will move to Hawaii! JK

I’ll share more just shoot me a message

@Nick Rittmann

My family and I are moving as well this summer and we picked Maui, Hawaii. I started purchasing short term rentals, house and a land that I’m developing for food truck park. That being said, I’ve done my research in the area. My son is going to a charter school in Kihei which is a technology school and that’s what we prefer. There’s a really good school in Makawao but that’s upcountry.

With your investing, being in Maui look into USDA loan since majority of land in Hawaii is considered “rural” you’ll be able to get a loan with zero downpayment and this has to be your primary residence. You can find property that has Ohana which is a guest house and use that as a rental. I’ve purchase a house in Kihei that has 4 doors (main house 3bed/2 bath and 3 door with 1 bed/bath) it was listed as a house and when I visited the property i unraveled that there’s plenty of room to make an income, so keep an eye on those. Airbnb/VRBO or any sort of short term rental in Hawaii, one of the rule is that you have to own the property for 5 years before you can apply for a permit so be careful relying on short term rental and research it.

I hope this helps a bit narrowing your decision making. Goodluck!

@Devin Duval

Question; are the mobile homes owned by the tenant? If so, you have to calculate all the expenses including the repairs. Ideally, you’d want your tenant owning the mobile homes and they pay “lot” rent. Also, what’s your utilities situation? You mentioned tenants pay for utilities so I’m assuming it’s city and if it’s not you also have to calculate that as well in your expense.

In MHP it’s very crucial to know few things;

1. If tenant owns the homes

2. City utilities? Water, sewer

3. Location

Regarding the loan, you’d need to find a lender who understands the MHP space as most banks don’t loan these. Unless you have a good relationship in your local bank.

Hopefully this helps and also I highly suggest that you educate yourself more with MHP space as you may encounter few things that isn’t same as other multi family investment

Aloha @Kelley Prymych!

I can relate to your idea, 1.5 year ago we travelled to Maui Hawaii (I’m living in Las Vegas and from Oahu Hawaii) we fell in love in Maui and made decision to come back as much as possible and possibly move to Maui down the road. We initially rented a oceanfront condo for 6 months which is our “home-based” whenever we are on the island BUT right after couple trips we knew we wanted “our” own condo so we quickly bought a condo in Kihei Maui which is a great vacation rental area. We now can block the days when we are on the island to have place to stay at and we’ve been renting it on Airbnb on days we are not on the island. We’ve been happy with the decision we’ve made thus far.

So, if you decide to rent a property make sure they will allow you to sublet it to vacation rental (which most of the time they wont) —- unless it’s friends and family that you don’t charge or list. And if you end up purchasing one- make sure it’s zoned for short term rental.

Hope this helps!

@Lee Prado

If you are looking into investing in Mobile home Park the mobile home university bootcamp in person is the best. The module is a good start as it gives you so much information. Frank Rolfe and Dave are the 5th largest Mobile Home Park owner in the country. Plus, in my experience when I was purchasing my park I was able to call Frank directly when I have urgent question.

So, in my opinion the module is a good start. When you are ready to purchase a park, Mobile home park bootcamp is a must.

I took the bootcamp 2 years ago and to this date I currently own 2 parks with total lots of 110.

Goodluck!

Would love to attend this meetup and network to local mauian investors but unfortunately I’m not on the island that day. Hopefully the next meetup I’ll be able to attend.