All Forum Posts by: Manly Souza

Yup, hence why I'm, and many of the Hawaii real estate investors, are investing in other states. A team of us went to Indiana recently and we put in over 20 offers on places. There's always a good market somewhere it seems.

Welcome to BP. My buddy got stationed here and got extended for a total of 6 years here. He got a VA home loan for a Waikele Townhouse then sold it a few years later to buy a SFH in Ewa Beach. He later sold that and bought in Hawaii Kai. He has to PCS next year and we'll look to sell his Hawaii Kai house upwards of $800,000.

So during his stint here he made an incredible amount of money and will leave Hawaii to his next base with a large sum of money. It can be done just plan accordingly.

Welcome Tony. I'll, one day, invest on the Big Island. It's the only island where SFH's are affordable.

Welcome to BP. Utilize the BAH here to invest in other states is a great strategy. I have a handful of properties here on the island and I just started investing in other states. Kind of wish I started investing in other states earlier.

I had a buddy PCS here and bought a place in Hawaii Kai. He will PCS mid next year and I did a CMA for him and I'm thinking we can sell his house for an easy $850,000. It's a good move to buy, and the cap for us vets is at $725,000. I don't recommend hitting that cap though.

@Edgar Claudio

It depends on the number that the VA guarantees. Multiple VA loans can be had. A refinance won't be needed if you would already cash flow. If a refinance shifts the numbers to a cash flow where you'd get some type of ROI then I'd do it.

I VA refinanced a property and increased cash flow of $140 a month and I only had to pay $400 for closing costs. My ROI is 3 months. Clearly a no brainer for me.

@Michael Borger is right. If it isn't a deal then walk away. The ARV would be the most important number before going into the deal. I had a meeting yesterday where the investor thought they had a $60,000 cushion but after the flip made only $100.

Have someone with access to the MLS do a CMA for sold properties within the area in the past year and note the condition of each property, how long it took to sold, and the listing price relative to the actual sold price.

Hawaii is a good buy and hold place. All my properties on the Island are worth more than they were when they bought it. They do not cash flow like the mainland does but if you look at wealth building over years, Hawaii is hard to match. To each their own I guess, but I do investing here in Hawaii and on the mainland. 

@Jeff Graves is right. I have a buddy who has his California license and had to go through the school here to meet the requirements.

@Chris Eaker is right. When I had a falling out with a bank on my most recent deal, I got a hold of every bank and emailed just about all the loan officers on the island. Bank of Hawaii came through with the clutch and we closed on time and I got the property.