All Forum Posts by: Manly Souza

Leo,

Hawaii is a unique market and IMO you gotta take it slow. I wouldn't jump right into foreclosures as a beginner. Foreclosures can often sell for around market price. I was bidding on a two bedroom townhouse and the final price was $2,000 less than the price it was listed for on the MLS. This was also auction.com and we know the rumors of their shadiness.

I started with condos out in Waianae as they are cheap and the cash flow potential is there.    Don't stop reading and learning as much as you can.  Take it slow.  Learn to crawl first, start walking second, third start jogging, then learn to run.  

What's up Leo,

I'd be interested in this as well.  I fly solo as an investor (for now), and have contractors and lenders that I work with, but investors meeting on the island would be $ick!

Hi Dustin,

Research is the way we all started.  Increase your knowledge as much as you can and later you'll be able to turn that knowledge into application.

Good question, but there are a lot of variables here. How much is the asking price of the property you have in mind? Will the additional 10% be difficult to acquire? My last deal I put 20% down to avoid the PMI and have a higher cash flow. I'm in escrow now for a property and also putting 20% down. The 20% down does help a lot and banks love it. But if the numbers work with the 10% down then that's all that matters. As long as the numbers work in your favor, it's a good deal.