All Forum Posts by: Jin Lim

Hello BP,

I didn't know where to post this, but I think this is the safest place to post. I've been trying to flip homes here on Oahu and have been networking and learning a bunch through experienced investors. I've found myself a mentor and have also been tagging along with any investor that would allow me to tour their projects with them.

That's where I got this idea: Why not record and feature these investors' latest projects in a cinematic way and also have a short interview at the end where I ask every investor the same five questions?

1) How did you find this property? (e.g.: MLS, wholesaler, driving for dollars, etc.)

2) How much did you acquire the property for?

3) How much was the rehab?

4) How much do you expect it to sell for? OR How much did it sell for?

5) What was the biggest lesson you learned from this project?

The goal is to provide viewers an inside look on a real project and also be an educational resource for newbies like myself. It would also benefit the investor by building rapport among other investors and market the property at the same time!

SO my question now to you is: What other questions would you like me to ask these investors? What would you like to see in these videos? 

I'm filming the first two "episodes" this weekend, so I would love your feedback before I begin!

I'm sitting here with @Michael Mazzella and he gave me this name:

Rick Sacca of Kamahele Plumbing at 861-6426. Let Rick know that Michael sent you.

Michael is currently flipping over 40 homes on Oahu right now, and uses Rick on a lot of his projects!

Good luck!

Thanks for hosting the event earlier this week. I look forward to attending the upcoming one as well!

Thanks for clearing that up, @Loren Clive! 

Curious to know the answer to this as well. Also, would a person working under a broker be expected to manage other properties as well, or can they work "independently" under the broker?

@Rob White: Unrelated, but may I ask which course you're taking? Are you taking a course at a physical location or online?

Hate to bring back a six month old thread, but I was looking to join in on some REI meetings in Oahu. If anyone has any information, please let me know!

Also, has anyone heard of Hawaii Real Estate Investors (hirei.org)? I was thinking about joining in on one of their meetings if there were no meetings with fellow BP members.

@Andrew Olmstead The owner is trying to sell it himself. $395,000 to buy it (fee-simple), no idea on how much to buy into the leasehold, but monthly leasehold rent is $390 in addition to the mortgage I would have on this property.

He has not given me any clue as to how much maintenance fees, taxes, etc. are. So I looked up some other properties for sale in the same building. Here is what I found:

Taxes: ~$400/mo
Maintenance: ~$500/mo

Am I missing any other expenses? I probably am.

Assuming I can fill the unit 18 days out of a month, with rent at $130 per night (pulled from other AirBnB listings around the area), I won't be able to cashflow at all if bought outright, but should be able to cashflow significantly if I went with the leasehold.

Am I doing my analysis correctly? Am I missing anything? There are big assumptions here that may completely change my analysis. The owner is also keeping related expenses to himself for some reason. I think he wants me to come look at the property before he tells me, but I'd much rather get some solid numbers for a more accurate analysis before wasting anyone's time by looking at a property I'm not sure about.

@Arla C. Meyer Thanks for your advice! I will definitely look into management companies and ask them questions. Do you know of any good ones on Oahu that specialize in vacation rentals? Can you share the numbers on your properties via PM?

Hello all,

Hoping to get some input from investors out in Honolulu County about leaseholds and using them as a vacation rental.

I found a few leasehold condos in the Honolulu/Waikiki area in buildings within a BMX/resort zone and was thinking about using them to rent out on AirBnB. I understand that I won't be building any equity by purchasing a leasehold, and I do need to get additional permits and pay additional taxes if I want to do this legally.

The reason why I would want to do this is because it's cheap to acquire a leasehold condo and the monthly revenues from rent could easily take care of the mortgage, lease rent, fees, and taxes.

What things am I not looking at? Why is this a bad idea?