All Forum Posts by: Danny F.

With all the improvements I did on the property which estimated about over $6k and live in a neighborhood where there is a high vacancy in the condo.  the landlord found it fit to just keep the rent the same.  As I mentioned it was an exception because a good PM will need to do what they need to do to keep their contract w/ property owner. @Ralph R.

- Repairs to rental property (provided the repairs are ordinary, necessary, and reasonable in amount) are fully deductible in the year in which they are incurred.

- Travel (local and long distance) tax deduction whenever one drives anywhere for their rental or business activity. This includes repairs, maintenance, gasoline. 

-Deduct home office. This deduction applies not only to space devoted to office work, but also to a workshop or any other home workspace you use for your business.

Insurance - you can deduct the premiums you pay for almost any insurance for your rental /business activity. This includes fire, theft, and flood insurance for rental property, as well as landlord liability insurance. 

-deduct fees that you pay to attorneys, accountants, property management companies , real estate investment advisers, and other professionals. You can deduct these fees as operating expenses as long as the fees are paid for work related to your rental activity. (Info from Nolo tax deduction guide).

And 100% agree with Loren

Aloha @Dakota Soles,

I am not an seasoned as Loren or Jasmine however,  maybe if this will be your first property of purchase, house hacking at a good price maybe a way for you to own in Hawai'i.  You would live off base and get higher cola (living in your home) as well,  the 2nd unit could pay for most of your mortgage.  It's good to connect with people like Jasmine or Loren and others as they could help you decide what approach would work best for you.  Connecting and building relationships is what it is all about.  Best ofluck in investing.  

Oh, btw, lets keep connected too as I will am looking to be a 2nd time homeowner 1st time real estate property investor. 

When I was a renter, the relationship I had with a good PM made me stay longer in my property.  On one occasion the landlord was about to raise the rent 25%, the PM spoke with me regarding the situation.  I told the PM company that I had been a long time tenant, I never missed a payment and paid usually 6 days earlier then due if the landlord would like to raise it that much I'll have to leave.  Well, the PM said he did share this with landlord and will explain to owner regarding decision.  The PM advocated on how well a tenant I was and all the improvements I made on the property (on my own) it would be better to keep me as a tenant.  The final verdict was for the next 2 years the owner decided not to raise the rent at all. Not only that we would receive a card and box of cookies or macadamia nuts during christmas holiday season.  Thus, I agree a good PM can do a lot for an owner.  

 I for one will be looking into a good PM in the future as well because of my experience ( this may have been an exception but it did influence my decision to stay longer at the property)

I resent it to you via your pm. I hope you get it this time. Happy Holidays!

It does sound good, however, you could with resources now select a property that would already provide you with positive cash flow and assurances rather than wait for what could happen.  That would be a sure bet & gamble for you.  If the company makes more of a committed decision to enter the community, you would have already developed an income investment generator that could help you invest in this community with better favorable odds. 

Aloha all 

I know the thread is now 3 years old however, I am interested in properties at this price range as well.  I have been researching for months yet having problems going through the "full swing" as I live in Hawaii and find it difficult to build a team where everything is 2 to 6 thousand miles away.  Any assistance or this matter or adding me to connection would be great. I have listened to many of @Lisa Phillips you tube channel(subcribed listener<) which has been inspirational and led me to BP.  I will be attending a group meeting next week in Hawai'i but even then I am certain to have any cash flow we (here) have to look at investing out of state. Median price home in Hawai'i is now 750k. 

I sent the information to your facebook as  that was the only contact listed besides linkden. 

If you have the Lt. Marine's name it may help.  Most of the Marines in Hawai'i are stationed at Kaneohe Marines Base.  However, I believe you may have to seek information through the MCB (Marine Corps Base) Hawaii Public Affairs Office.

I shall pm you some information I found as I know I cant post address etc on site forum. 

Aloha and Welcome.  Congratulation in taking control of your dreams and put it to action.  Wishing you all the best.