All Forum Posts by: Curt Mcneil

I'll just add that oahure.com (mentioned above or in another thread) is close to my favorite re website- ever. BP holds the top spot, and will I'm sure, but anyone not using oahure.com is missing out big time.

Regarding special assessments, I had eye opening event Sunday.

I went to a condo building for an open house on a one bedroom unit. While in that unit I had a great conversation with the presenter who was very careful to make sure that I understood that a special assessment had been levied on the building and that the seller had paid off that balance.

She went further to warn me that I need to be very careful when buying condos as many folks seem to forget to talk about any special assessments until later in the process of discovery (I guess in hopes of getting you emotionally invested in the property and therefore more likely to bid closer to asking price rather than try to factor the assessment into the offer).

Anyways, when I went to leave she asked if I was interested in looking at another unit- I did so she took me to another unit and turned me over to that agent. He didnt mention any assessment, but when I asked he explained that it had been paid off.

On the way out, ran across a third agent in the lobby. We spoke and she took me to a third open house. Not one mention of the special assessment. When I asked, she had no clue and then called her office and came back with the assessment had been paid off.

For the one bedroom condo of about 650ft3 the special assessment was a little over 10,000 bucks. I didn't even ask how much for the 2br units.

Military here, been on island since July. I've been in Kakaako in a high floor condo- and views are beyond dreams, but very expensive.

And I'm renting.

So, I am on my path to buying now too. 

I agree that lots of stuff seems to come on the market and go into escrow quickly. Some stuff sits for a while too.

My biggest issue is boots on ground at lot location is an absolute must. Pictures just plainly will not give even a mildly adequate understanding of what you are looking at.

For instance:

Found what looked like a great duplex. A bit pricey, but lots of good inside and outside pictures. All outside pictures were from street and did not show surrounding area.

Actual- the 'road' that goes from the main street to the unit is basically a dead end street that is really only one lane (by rights should be one way street it is so small). Additionally, there is a rather large apartment complex (maybe 20 cars in the lot below the two story building) and several other multi-family types on the 'road'. 

Really, no kidding, get on location or get real specific about pictures if you are going to try to do more than window shop from afar.

Kakaako, essentially the area between downtown Honolulu and Waikiki is exploding with new high rise developments. Thousands of condos coming online in the very near future. 

I use hicentral.com, redfin, and when looking at condos the best (to me) is hicondos.com 

If you are interested to see what's happening with the explosion of condos, hicondos.com will open your eyes big time. 

Have fun, good luck, and keep us posted!

Oh, the vehicle market here is not like what I was used to in the states. But that is a different story for a different time.

Hello Stephanie Dupuis!

I see the challenge in your post... and to be quite honest, I have no valid answer.

For the last three years I have lived in a rented room in a GREAT home across the street from the McCormick Woods development but have just done my 'go to work and come home' thing... hurry up to go home and tinker around with the internet (building websites and stuff).

I never, in any way, looked at any real estate in the Port Orchard/Bremerton/etc area. Nor have I really looked in Everett yet.

I have, however, lived in Port Orchard/Bremerton for three years and was flat out surprised when I turned up in Everett to see how many people live up there... There are a lot of folks in that area (much more than in Port Orchard I think...)

If the Kitsap area is 'better' than over on the other side, I have NO issues in focusing there.

In fact, the ONLY reason I expect to try to make any investment progress in Washington state is the fact that I expect to be living there for the next two years minimum (if not 5 or 6 years).

Left to my own desires, I would be focused completely on Tucson as family is there and I expect to meet their expectations and move back 'home' to be near them. Only thing is, I can see plainly that there is no benefit what-so-ever in waiting to get started (more to learn really than anything else). The way I figure it, getting started in the 'local' area where I am is an absolute KEY to this plan- managing rentals personally for a few years would provide me with what I expect will be an invaluable education...

If you think Port Orchard/Bremerton/Silverdale/Gig Harbour/etc. is better, I am all ears. In fact, if you have the time, we should chat!

I will be back late January. We should chat some and possibly meet up.

Be Good!

Curtis

Hi Karyn T!

I have been to the Everett base a grand total of 6 times now... I managed to make it there during my last tour (while stationed over at PSNS) for a site visit. Then when it was time to transfer to the bird farm, I had to show up to the base for a check in (next day flew out to the ship so didn't go back to Everett). Since the ship came back two weeks ago I drove back and forth from 'home' twice... I did spend two duty days there (plus a few more days because I don't like to get up early and drive I tend to go to the ship the night before I have to be there).

That is my total experience with Everett so far... I did stop into a chinese food place and made a stop at the Chevron on the way to the base (downtown area, it was kind of scary to me...)

anyways, I will be out of town until late Jan. We should meet up! (lets message privately and discuss???)

be good!

Curtis

Hi Michele,

I see Clan McNeil is represented well here!

Seattle, to me (from Arizona), is a strange place...

Why do people want to live in such cold climates???

Gerald,

Thank you for the vote of confidence!

Yes, indeed I have been considering making my entry point with a multi-family unit with me living in one of the units. The thought does appeal to me, especially since making the trip from Port Orchard around to Everett takes so much time and money for gas/ferries. (living on the ship is no fun when it is in port...)

Hi all, my name is Curtis. (and I can tend to ramble... so fair warning!)

Well, I am coming up in a few years for 'retirement' from the Navy and realize now more than ever that I need to take personal control of my financial destiny.

It looks like I will do another 2-5 years (will be 25-29 years total- which is hard to believe for me), currently stationed in Everett and renting a room over in Port Orchard where I had lived for the last three or so years. Ultimately when I do 'retire' I see myself in Tucson Arizona where the lion's share of the family lives.

I have been reading pretty much anything and everything I can get my hands on (lots of time on your hands when on deployment, no?). I have been through many of the Rich Dad series as well as a large number of real estate books.

In all of my reading and self study, I have come to embrace the concept that I need to lay out some sort of goals. So here goes. (feedback most certainly welcome!!):

I see a 2, 5, 7 and 10 year plan starting to form. I will retire and will get a % in retirement income- my base plans center on this concept...

I know I will need to earn at least an equivalent income to maintain my lifestyle so my current pay minus the retirement pay becomes the target 'free and clear' number I am targeting to earn from rentals.

2years: purchase rentals such as to meet the requirements above in the Everett area so that I can do it locally and learn the ins/outs of property management...

5years: develop (aggressively) rentals in Tucson Arizona to an arbitrary level of 10K/month (this would be in addition to my living income from retirement checks and Everett rentals.

7years: (side goal- personal dreams and all...) finance a golf tour across the country

10years: Certified/Sophisticated investor status and begin investment journey in other asset classes (if not there already...)

These are just loose concepts in my mind, with the exception of course that when I finally do 'retire' from the Navy, I really do have a goal of having replaced my current levels of income so that I don't have to work for others unless it is something that I really want to do.

I see my primary focus as being in the buy/hold/rent arena, but I am not discounting other methods including wholesale and fix/flip projects for capital injections periodically.

Finally, I see a lot of value in the Rich Dad encouragement for folks to get into business. I am also on a journey of researching some sort of business purchase in Tucson. This last part is a longer term goal I think, but we shall see.

As a side note, one really neat thing that I came across and would like to share is my short journey on credit score improvement. I was tinkering around with my credit card awards points and managed to get a 6 month free life lock membership. Upon reviewing my score I found it to be a bit low and discovered that a collections account had been added to it. Without going into great detail about the collections account (it truly was not mine, but was my daughters) I got the account settled but it remained on my record. That improved my score slightly...

I read a book where a guy mentioned that any negative/derogatory entry on the credit reports could and should be challenged periodically. I followed that advice and, to my surprise, easily got the entry removed.

This little project improved my score by 70 points. A very nice feeling to look at my score now!!!

Anyways, I will be popping in and out of the forum as I still have what I consider to be a lot of ground work in the Everett area to learn the local market(s).

Be Good!

Curtis