All Forum Posts by: Loren Clive

Aloha, Kyle! I have two vacation rentals myself, one in Kihei. I have rented them long-term for the moment. Happy to answer any questions you may have!

I agree that prices will probably be coming down after September when the forbearance ends. I don't see the governor letting tourists in anytime soon.

No worries, friends. @Eric Ritvo It is on Maui, where alas the tourists are banned for the foreseeable future. I was able to long-term rent it for a bit prior to selling it last week for basically what I paid for it. 

To quote the late, great Kenny Rogers, "You got to know when to hold 'em, know when to fold 'em."

@Julian Sage

@Julian Sage

I have many more regrets about BUYING properties . . . like the vacation rental I just bought in January. LOL

I long-term rented both of mine and sold one. @Devin Redmond actually it was a local buyer who purchased it and of course was able to walk through it. I think your 99% number is a bit off.

As far as cashflow goes, my best vacation rental was netting $2k/mo before COVID but I bought it off market.

@katrina Cabral you can totally do this, you just need to designate someone as your on island contact per state law. Could be your housekeeper or your realtor

This is a great book on the subject, though not geared specifically towards real estate investment. 

https://www.amazon.com/dp/B01N24N3CR/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1

Talks mostly about mortgages on your personal residence and how equity invested in the stock market will get a better return than property appreciation. Lots of math to prove it.

The first home I bought was in and out of escrow several times. It was a short sale, and people couldn't get financing, got cold feet, etc. No material defects.

I got it for a great price and still own it. OP just go check it out!

I don't know about you guys, but it takes me maybe 15 minutes to write an offer. All these agents hand-wringing about wasting time... Let me dry my tears! Let's face it: our job as agents is to work that paperwork. Seriously, though, it is an honor to have a qualified buyer. If the offer is ridiculously low, redirect your buyer to something in his/her price range

I don't know what these people are talking about. yes, do it! you always want the seller's agent in multiple offer situations. it makes the deal easier, and some sellers actually have negotiated variable commissions where if their agent represents you, it saves them on commisions. It may help you get the property in escrow where using another agent will make it more expensive.

You can always write the offer with an escalation clause to verify the other offers.

I would look around and see what else you can purchase for $300k in your market. Might find a better deal and be less headache in the long run.

Also, have you spoken with a lender and know what you qualify for? You might be able to buy multi-family and get your own house plus a rental that has better numbers. 

You need to do more research. Don't be blinded by your sister's kindness. Caveat emptor