All Forum Posts by: KeviMoni Allison

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Kalaheo.

Purchase price: $555,000
Cash invested: $19,000

We bought this in 2012 with a VA Loan and 2% down and closing costs for a low amount of 19,000 on a then 460,000 note.

What made you interested in investing in this type of deal?

Owning a piece of paradise

How did you find this deal and how did you negotiate it?

Realtor, Fran MacDonald the best on Southside of Kauai!

How did you finance this deal?

VA loan with Wells Fargo

How did you add value to the deal?

VA Loan got us for free a 12,000 septic system and all permits closed by county (Huge relief and less PAIN IN THE OKOLE)

What was the outcome?

We got a home for 19K in Hawaii, that also had a LEGAL ADU. House hacked it and cash flowed month 1.

Lessons learned? Challenges?

B&H, in your name, convert to LLC if and when equity is there, and use cash out to buy more homes. My house bought me more rentals.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes several, Fran MacDonald, Charlie Fitzgerald, Kevin Hill @ Aloha Captial

I thought as a pro member we had access to the property manager forms.  Such as leases for the various states...

Need a lease for Kauai.

Also, Aloha Capital uses a 30 note for way less than 9%, and cash out.  We got 6% flat.  

We use Charlie Fitzgerald at REI Investor Funds (previously he owned Geneva Funds), he has 30 years in this market.

Tell him his favorite Captain sent you.

Great thanks. I don’t steal but i do replicate strategies. Success begets success. And aloha we hail from Hawaii. And love Real Estate. Since moving to Texas, our two cars are grossly under utilized, and we walk everywhere.

@Aaron Bihl

Can you share your lock box and remote access system and process?

I’m intrigued.

Thanks,

Kev

When is this and can someone link a meetup event on the site?  Being new to the city, I appreciate the address, date and time. 

Hi Liz, thank you.  Sadly, we are not available that date, when is this coming back San Antonio area?

We celebrate by taking that money we close into another deal that we have had on the back up list and close it.  Leverage and velocity of equity for more cash flow and less debt in my hands is the process and cycle of gaining net worth and deducting cap ex and debts while collecting rents and depreciating assets rapidly for less tax liability.  Also, kiss your spouse longer and harder.  :)

We also plan big wins, to celebrate every 10K$ net profit of cash flow with a toy of choice, not more than 1k$ per month.  Mine is a Telsa, leased by my company. 

When is the next event?  Thanks Kev & Moni 

Alooooooha!