All Forum Posts by: Kapono Kobylanski

Aloha!

Are you investing in Honolulu? I'm a newbie so a deal like this is far from where I am at right now. I am looking for a mentor, so If your company needs a nurse for some reason, win-win! Ha. 

I'd love a referral for a cost segregation study and general contractors in Honolulu for small multifamily renovations. 

Mahalo,

Charity (spouse of Kapono) 

Aloha!

I'm in Honolulu too! I just started this year. Well, end of last year if you count when I started watching podcasts and reading books. I have 3 doors now. One of them is out of state. I'm focused on tax strategies at the moment but I plan on purchasing a house hack /multifamily in Kahala in April. Big goal huh? I hope I can pull it off! I KNOW I can!!! I'm trying to stay positive about the crazy goal. haha

Good luck with your adventure! I am looking for a mentor as well and people who are interested in REI locally. My nursing friends are inspired by me but I'm sure they are a little over me talking their ears off about tax breaks and investing in real estate.

 I went to a meet-up recently and there were two men there from the west side that have done quite a few BRRRs just this year alone! Brandon Rabe @breakingrythm on instagram is one of the hosts. There's one tonight at 6 pm on zoom. The one I went to was in town and face-to-face. I think they have them monthly. Good luck!

Hi again, 

I will ask my friend the numbers on that property and the Ilikai. I shopped around for HELOCs in Feb 22 and I was surprised to find the BOH was actually the best for us. We are already banking /w BOH and our first HELOC was BOH long ago and that was a good experience. You can move money back and forth from your checking to the HELOC. Or at least pay off the Heloc /w online banking.

We compared BOH /w Aloha Pacific CU, HI state CU, and HI cental PCU. We tried to get a 250k HELOC but we got much less than that. The rate is 1.75% for 36 months. My understanding is that in less than 36 months I can just get another HELOC to keep the rate low? Or maybe that was the option when the balance was mostly zero like it was /w my first HELOC. I used all of this HELOC as a down payment for my investment property so I'm not sure if I can do it with this Heloc. My hope is I can refi the new property in 36 months and that will take care of this issue before the HELOC rate becomes variable. In any case, the new property cashflows pretty well and the home I have the HELOC on is in town in Hawaii so there are slim chances it will go down in value ever. I refinanced that one when rates were crazy low and with no points got a 2.9% rate. I house hack that property and the rent on the little side studio pay for most of that mortgage. I'm a novice so what do I know, BUT, I think I'll be ok even if I hit variable rate and can't get out of it. If all else fails I could pick up a few more hours at work but I really don't see that happening. Please let me know if I am very wrong :)

Which building is this? I heard that the Ilikai always cash flows but I haven't gone as far as checking the numbers yet. I do have access to them from a STR property manager I know on island. Can't you just get another HELOC in 2 years when it's close to the deadline? I'm a novice so I have no idea. I just used my Heloc for the down payment on a STR in Oregon this year. My first official investment property. So far it's cash flowing well but I don't see any bookings for two months from now. It's not like Hawaii STRs. I have a 30-day STR until April 2024 and then I need to find mid-term renters. That is a cash cow. My Oregon PM keeps telling me it will do well and its her job to worry about it booking so I'm trying to keep my cool. I do trust her well enough but I do have some reserves and I can always long-term rent the house for minimal returns as a backup strategy.

I'm sure your property will be well worth it in ten years or much less. Honolulu legal STR options are rare.