All Forum Posts by: Joe Sillaman

Aloha Ally,

I'm an Agent/Investor/Air Force Reserve O-3 in Oahu! It's funny because you just so happens that you live in some of the most expensive RE markets in the country. It'll be difficult to find anything cheap. More money is required raising the risk level. But being in a Hot Hawaii market that sells it self, active military with great pay, and with drive in RE investing you can certainly press forward with acquiring good cash flow/appreciation based investment property. You can buy and hold using your 0% down VA loan as long and live in the property at least 1 year which is what I did with my vacation rental. I recommend buying on island ASAP, local economies project Median SFH prices to reach $800,000 in a few years...Currently Median SFHs are $629,500. Historical data has shown SFH prices double every 10-15 years. Foreign investors from Asia, newly opened air routes, and increased marketing are boosting visitor rates...Every day 38 people come to Hawaii to plant their flag! Hopefully you can dig in an make some serious money!

Aloha Nathan,

Welcome to BP the best resource for Real Investing! I'm a Realtor/Investor located on Oahu as well. Which office are you with?

Aloha Justin,

AF Reserve Aerial Port O-3 here. Good luck wholesaling here. It's fought but possible. I'm a Realtor and can help, big thing is to be pre-qualifed or have cash investors assist so you can at least get properties under contract. I also own and manage a vacation rental in North Shore and long term investment property in Alabama. Feel free to contact me with any questions you have .I'd be happy to help. Super glad you escaped the guru pitch!

Aloha BP world,

Does anyone recommend any desktop/voice recording software? I want to record my screen for a presentation on how I manage my vacation rental. If there's any decent free options out there I'd like to hear about them?

I have tried both airbnb and VRBO. I found more success with VRBO but I think it might be due to my higher vacation rental rates. At $170/nt, vacationers with deeper pockets usually stay at my place.

When I used airbnb I found more users are looking for deals which mine vacation rental doesn't offer any.

I figured since VRBO brought me enough business I'd just stick with their service. Not to mention their Reservation Manager system is worth ever penny when handling inquires, bookings, reviews, calendar and pretty much everything associated with vacation rental management.

This is not to say one is better than the other. Id certainly use airbnb if I were renting a room in my home or had something cheaper and smaller.

Military? You got the VA loan! Buy a place, live in it for a year then either sell or long term or vacation rent. You can't lose if you're smart about it! There are a ton of opportunities here, Hawaii pretty much sells it self.

Aloha!

I'm at Hickam. Give me a shout and we can link up! Bought in Haleiwa and currently vacation rent out. She may hate the interest but when it's still the cheapest money you can borrow it's vehicle to your success!

Aloha Mike,

I'm based at Hickam. I bought a vacation rental in Haleiwa before I went from AD to Reserve, it took about a few months to renovate and set the systems up for rental ops and management. Despite the high price of RE, HOA fees, and recent increases in Flood Insurance the investing prospects are still great out here. Decent cash flow coupled with doubled appreciation about every 10-15 years on property almost guarantees a win. The island population is growing as well. So if you plan to go after listed property competition shouldn't be as hard as it was a year ago. Highly recommend vacation rental property that you put under a property manager that can handle the place while you're gone. Let me know if you have any questions. I'm a local Investor/Agent, AF Reservist, MBA student, Professional Surfer (I wish)!

Best of luck to you!!!

Kind of feel like this is becoming a situation of paralysis by analysis. Go with a list of Pros and Cons list. if something is glaring at you then don't do it. There will be extra expenses here and there but if you feel it's a Go after looking at the place in a logical sense, take action!

Aloha Dana,

I own and manage a VRBO vacation rental in Haleiwa! It's been a great experience thus far. No place is better for vacation rentals. Surfers and families looking to get away from the touristy South enjoy it up in North Shore. Only thing that kills me is the 14% of DET and TAT...Do happen to have any in Haleiwa?