All Forum Posts by: Luis Y.

@Lane Kawaoka

I personally won't be doing any BRRRR strategies at the moment. My main focus with HouseHacking are Live-in-Flip or a Buy-and-Hold type strategies. I have been looking at Turnkey type of investments actually since Hawaii is so expensive but I lack knowledge on them, it is something that I definitely need to educate myself on...

I‘ll definitely take the advice

 “Focus on being an investor not a landlord”

Thank you!

Nice to meet you @Mindi Rosser and welcome to Hawaii! I hope you are enjoying it so far. At the moment my main interest in properties are 2/2/2 properties in the hopes to househack or small multi-family homes if possible. Mainly interested in more white-collar or family neighborhoods here in Oahu. 

Thank you! I have been using a few methods to analyze deals here in Oahu towards my second property although some are a bit difficult to achieve here:

- 1% Rule of thumb and The 50% rule

- Cash-on-Cash ROI

- Cap Rate

- GOI

- GRM

 - OER

I have not used IRR or MIRR but ill definitely try to learn and implement it. I was recently learning about NPV. To me its just fun... but I'm trying to make sure I don't get over analytical. I'm slowly developing and improving on a system to cut down time on analysis. Since over analyzing has made me lose 2 potential properties that were highly desirable.

Thank you and nice to meet you! I basically remodeled the whole place at this point and made it tenant proof. Did a few down payments and refinanced the property. Every year it gets a little better. Right now I’m negative $50 a month on the property (Not including GE Tax and Upkeep in the property although I have lessen this cost drastically)... Thankfully location is extremely good, and I have never, since the day I bought it had it Vacant for longer than a week. I did a lot of the fixing and my father came to visit from PuertoRico and helped me since he is a cabinet maker which made a lot of the fixing fairly cheaper. Still working on ways to turn the property around but I can see the light at the end of the tunnel.

Aloha!

I’m a newbie Interested in learning more about investing in Oahu. I currently hold one property in Mililani and I’m browsing for my second property although the COVID has made it slightly difficult. Since my first property I have tried to really educate myself in Investing through books and stumbled upon this site in which I’m very excited to get started on. There is so much information it feels like I’m drinking from a fire hose. Anyway I’m highly interested in networking with others here in Oahu and talk about real estate, still learning my way around the site (hopefully I’m posting this in the correct place) but ill do my best to stay active here. Feel free to contact me directly on my profile. Stay safe. 

Thank You! 

Investment Info:

Townhouse buy & hold investment in Mililani.

Purchase price: $395,000

My very first purchase... made a lot of mistakes. Started Househacking with the property and after about a year and half decided to move and rent it fully. Learned a lot from the property wish Im very thankful about, as well as managing bad tenants. Currently its rented out but not necessarily making any cashflow. Definetly looking, to apply everything I learned from this property on my next purchase.

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

Well I was living in Oahu, HI for 3years while in the military and renting an apartment for $2400. After some consideration I decided if I was going to spend my money on rent might as well do it on my own property. So I used my VA loan benefits to finance a condo in a nice area i liked. At the time i figured rent out one room since i had 2 and Im single... then i realized I could rent both rooms and live for free in my own place while doing cosmetic remodeling.

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

Through MLS with a Real Estate Agent is how I found this property. I used a VA Loan for the financing put an offer and it was immediatly accepted. (I realy did not know what i was doing or how to analyze)

How did you finance this deal?

VA Loan

How did you add value to the deal?

At present time I did some cosmetic improvements to make the most out of the property and add rental value

What was the outcome?

Currently Holding and workin on it to make some profit or come out even

Lessons learned? Challenges?

Definately learning how to analyze deals!
Grasp a decent foundation and learn the language of what your getting into... If you dont understand the meaning of something, research it and ask questions.
Friends can also be bad tenants, sometimes they feel entitled... and you can run into a situation where it ruins your friendship. Simply keep it strictly business.
Build a solid exit strategy, probably the biggest challenge i have faced.