All Forum Posts by: Loren Clive

Is this a condo? Ask your neighbors where they got their insurance.

Look harder. You should be able to find something in Hawaii that cash flows, particularly with multi-family. I can refer you to an investor-friendly agent on Oahu if need be

Amazon is a great resource. Their lighting and plumbing fixtures are way less expensive than HD prices.

I usually buy all the materials, and the main reason is because women are better shoppers than men. LOL. And it's easy to order stuff on will call Home Depot, keep them on the job working instead of shopping. And of course they are paid to go pick up materials, or that is factored into their bid.

It all comes down to communication between you and your contractor/handyman.

As an investor buddy of mine says, I don't let anyone else spend my money.

In 2010 I had been recruited by a hui of investors on Oahu, and we were flipping houses at foreclosure auction, so I had been trained how to find deals and what to look for. 

I've always been a good saver, so I had about $50k I'd earned from selling real estate to use as a down. The first house I bought was a duplex in 2013. I actually showed the house to a client, turned out he couldn't qualify, but then my mortgage broker pointed out I could buy the house, so I did. The downstairs tenants more than paid for the mortgage, I decided to live upstairs. Once I didn't have to pay rent ($1000/mo at least on Maui), that cut my living expenses by a third. I got a HELOC on the house and was able to tap my equity to use on other deals.

I kept saving money and reinvesting it in real estate. Living off my own cashflow happened within three years of buying my first property since I was used to $30k a year income. I was single, no dependents at the time.

I partnered with a local attorney to raise more capital to acquire high return properties. I had consulted him on an eviction, and he noticed what I was doing and wanted to get in on the action. I also had some partners on flipping projects, but I much prefer buy and hold. I own a mix of long- and short-term rentals, but I initially started out with long-term. Rents are pretty high here on Maui, so back in the day it was way easier to find cashflowing properties before values skyrocketed.

I was so focused on working that all of sudden, around 2016 I realized I'd gotten pretty rich. Then I got married had kids and started to enjoy my life. But it is different not having a 9-to-5. Most people my age don't have the amount of leisure time I do, so I just work out a lot.

Now I'm a single mom, and my daughter is my #1 priority, but I only have her half the time. So still out there making money but my new goal is finding a life partner . . . which is way harder than real estate LOL.

Bottom line, it comes down to dedication and focus. I never in a million years thought I would be living on Maui as a real estate mogul, but hey life always surprises you. Hard work is its own reward.

I live completely off my rental income. But I've been investing since 2013. It's possible

if you're asking yourself this question, you should find another broker. 

in fact, you should always have multiple brokers on the line while financing because things DO happen

Sure, you can invest on multiple islands. I have clients that do this.

From a management perspective, it would be easier to keep it on the same island for the reasons you mention. 

Personally although I've looked at the Big Island, I find that the rental income is way better on Maui, and easier for me to manage since I live here, so I've never actually pulled the trigger for BI. 

I can help. Let's connect

Hi, Henry! I'm a broker and investor on Maui. I've been here 18 years and have 7 properties presently. Would love to connect with you