All Forum Posts by: Jordan Sunshine

It pretty much means youre purchasing a lease until 2024 for x ammount but this type of lease doesnt include water, elec, sewer, hoa fees, ect. Also theres no option to buy so obviously when youre lease is up any upgrades and maintenance you did to it will not be reimbursed or gain you equity. Just like a normal renter just for a longer period of time with more rules and fees.

Going off of what was previously said i seriously think you just got ripped off extremely hard. 1 why did you pay cash for a house and not do financing? 2 why did you buy the house on ebay site unseen? 3 why didnt you do your due dillegance on the property before buying?

I dont beleive the above poster at all. Yes it is easier to fix and flip than it is to buy and hold in hawaii but its not impossible. Actually i think if youre in the right position and doing the right things a buy and hold in hawaii can make EXTREME ammounts of cashflow and when the mortgage is paid off the cashflow is through the roof. Its all about what you look for and how you form the financing, obviously using traditional financing wont work. I think if people want to have the mindset like above then let em, ill figure out a way and make it happen with less competition ;)

@Mario Quehl

Are you looking to flip leaseholds? Are you going to be trying to buy pre foreclosure or auction condos? Do you know what numbers you are currently looking for and how large of a profit margin you are expecting to make per flip? Have you already thought about buying fee simple and offering a lease option to potential buyers? Do you know your target buyers market?

There are a lot of things to consider before trying to flip condos in Waikiki. I would make sure you have multiple exit strategies lined up and ready to go before you step foot into Waikiki. Not trying to discourage you from doing it just trying to make sure you don't forget anything before just going in blind. ;)

First off whats your ROI on that property? If you're only making 300$ a month after covering mortgage, 1-2/12 months vacancy included in your math, 100$ on a property manager, and 5% deductions for possible repairs needed and your initial investment is 20% of 50k thats 10k. (300x 12months) divided by 10,000 = an ROI of 36% that means you wont see a return on your 10k for 3 years but after that the rest is profit. Just dont forget to get your monthly cashflow theres a lot of extra numbers to consider than just the ones above.

Now as for the price of the certificate, whats the comps in the area or more specifically the building in the past 3 years? That will give you a general idea of if hes selling it at a fair price.

Hope that helps.

@Trexie E. Thank you for the warm welcome! I'm glad to be here, I see a lot of great work by a lot of great investors and I plan on learning from as many as I can! :)

@Justin Young I've always been nervous to attempt to tackle mainland properties just because I don't want to lose all my profits having to go back and forth if needed. Obviously there are ways to never see a property ever and still make money off of it but just reading about it doesn't make me any more confident in my ability to do it. I'd love to spend some time to talk about your experiences and what hurdles you have to overcome to be successful in remote real estate if you would be willing to lend me some of your time. If not, any reading material that you suggest? programs or properties to look for? areas you suggest? ect.

@Adam Nishikawa Thank you!

@Mark Nolan I've been digging through that blog, its crazy huge! been trying to bookmark and read as much as I can on one topic at a time, I picked networking and effective habits as my first topics. What would you suggest I work on first?

@Gavin Shiraishi Thank you for reaching out! I'd love to pick your brain if you have time! I know you are probably extremely busy though so completely understand if you refer me elsewhere. I'd love to learn about single-family & multi-family houses and how to look for the diamond in the rough that could get me a good ROI in hawaii. Eventually my end goal is to own a few commercial properties by buying the ones that need some TLC and turning them into high cap rate properties that I could either keep or sell to someone and be confident that they will be getting a good cash on cash return from the property I sell them.

As the subject says, I am highly interested in learning more about Real Estate in Honolulu Hawaii and how to be successful on this island of ours. I'm open to learning any and everything I can about real estate, taxes, loans, contracts, inspections, contracting, property management, stocks, money lending, ect! I am born and raised on Oahu and plan on raising my child(ren) here as well. I live a busy life as most of us do on this island but I am eager and willing to share my extra time with someone who might be able to teach me a few things as well. Who knows, maybe my questions or current knowledge can bring a new way of thinking to the table for your investments as well! Hope to hear from you!