All Forum Posts by: Michael Borger

Hi Joe. There are a few out HM lenders here, and they're easy to find with Google. I haven't used them, though. With Hawaii's price point, paying 4-5 points and 12-15% really sinks any deal before it gets started, at least any that I've found. It's not easy, especially in the beginning, but private money is a much better way to go if you can get access to it.

Aloha Mitch. Very nice intro and you're in the right place here on BiggerPockets, as Brendan said. There are a lot of smart, motivated real estate investors here. I'm based in Honolulu but I'm always open to deals out in Ewa where you are (in escrow on one currently). Keep up your diligence, motivation and education. And please do consider me a buyer for any deals if you get into wholesaling :)

Mike

I'm with Brandon Turner. I'm actually leaving San Diego this morning to go back home to Honolulu. Both are great places!

Hello, friends. I'm buying flip deals on Oahu, Hawaii -- I have 3 at the moment and have the capital to buy more. If you're actively marketing for -- and getting -- true flip deals (with supporting comps), please do contact me. I'm looking for condos, townhouses, single and multi-family properties in most areas on island (no North Shore, Waialua, Laie, Hauula or Waimanalo unless true smoking deals). Fee simple only. $1M max.

Mahalo! :)

Hi Ray. I've seen this type of situation before as the care homes here on Oahu are indeed quite large. I saw one in Ewa Beach not too long ago that, if I recall correctly, was over 4000sqft. That's a lot of house for one couple to handle.

Is there any real need that you and your wife need to be on the note? Is that required for your in-laws to do a refinance? Can't they get it done with them and just the other existing family members?

I agree that if you don't want the house more than couple years and having full control is not an option, then you should probably not get on the note. It may not be the most popular decision, but it's likely the best one. The last thing in the world you want is to be squabbling with family members over a house - that never ends well.

Agree with Kyle - what island? What town? It makes a big difference out here.

Hi, Tyler. Welcome to the industry! I'm based here in Honolulu. Yes, with our high housing market values here it can be difficult to get started, especially if you don't have much of your own or private capital ready to go. You may want to start out wholesaling to get some paychecks while learning the ropes. I would also strongly suggest networking with local realtors to help find some deals until you start your own marketing plan (and then keep doing it anyway).

Hawaii can be tough but the financial rewards can be HUGE. I have a luxury flip in the Royal Iolani hitting the market in about a week that should pay out very nicely and others on the way. Just keep learning, stay diligent, ignore the 'noise' and always be doing something to move you forward.

If you ever want to talk actual deals, just drop me a private message.

Mike

Aloha, Jack. I'm also here on Oahu. Cash flow can be difficult here with the high prices, as you mention. Either condos or possibly multi-family properties might suit you, as long as you can still get them at a discount under market value (equity). I'd reach out to quality agents to help you, start doing your own distressed property marketing and/or targeting specific areas so you don't get spread too thin. For example, there are a lot of multi-family properties in upper Kalihi and lots of cheap condos in lower Kalihi. Also some cheapo studios and 1BRs in the Makaha area. Just some thoughts.

Aloha from Honolulu, Brandon. Welcome to the real estate investor community and BP. There's a ton of great, free information on here. Take the proper time to absorb it all. If you ever get involved in the Hawaii real estate scene, look me up: bigrockinvestments.com . Maybe we can put some deals together.

Mike

Aloha, Jason. I'm an active investor here on island (Honolulu). BP is a great place to get a ton of real estate investment knowledge - welcome to the community.

Let me know if there's anything I can do for you here on Oahu. And do please consider me a buyer if you plan to wholesale/assign any deals you find up there in Mililani. Military is a unique niche - lots of relocations which can lead to potential deals.