All Forum Posts by: Mitch Tempo

Under 200k for fee simple land sounds very low for a price point.  Pretty sure you can't buy fee simple land on oahu at that price right now.  (There's only 1 lot on Maui under 200,000 now and Oahu is way more expensive).  If you consider that comparison as a replacement cost, then your relative should purchase now since its under market.  Collect your gains instead of chasing a possibility that might not happen.

There is a possibility that the lease owner might not offer the fee buyout in the future as well.

Keep in mind too that typically lease rent also increases over time too.

It just seems there is more benefits of buying out the lease now compared to later in this case.

There should also be information on the leasehold disclosure, agreement.  Each leasehold is unique so do your due diligence on that part thoroughly.

The financed portion should be closer to 420k, with a 30% (180k down payment).   I'm assuming typo, but just to point it out if you were using the 520k numbers in your estimations.  

Which area of Maui are you looking into to perhaps narrow down the list?  South Maui (Kihei, Wailea, Makena), Maalaea, West Maui (Lahaina, Kaanapali, Honokowai, Kahana, Napili, Kapalua) are the different areas. 

• Have you thought of investing yourself? (I think this will offer valuable insight to the process and make you wealthy in the meantime:)

Yes, I wanted to learn the agent side of the business, and now that I'm confident in what I can do there, I'm looking to learn this as well.  Real estate has been a learning experience with every deal making you learn something new each time.  I don't think I'll ever know everything about the business, but I can try right?  

• Are you confident yourself to run numbers on investment properties? Or do you know the areas cold where you are a realtor?

Yes, definitely making it a point to know my as well as I can with notifications, preshowings, and open house visits etc.  So I know my inventory fairly well.  Ive met a few that requested pro formas and whatnots, and that's probably where i need to improve myself at.

I took Abe Lee's online course a while back.  It was fine for me, but it was mostly audio recordings of live lectures, and self study.  Not too interactive.  There was quizzes to be done online at every chapter which were similar to the Hawaii tests in formats, but most of the Hawaii RE classes will have similar quizzes/tests.  

As to commissions, it's going to be different per broker, on what they charge/split is. Our office is 60/40 first year, 70/30 after that.  However those are for sales splits, and we don't do much property management.  

Since your on Maui I'd ask some property managers like Pali Kai Realty, Shore to Shore Realty, Home Managers Maui, and possibly Ihu Properties, all of which do long term rental property management.  

Hi everyone, my name is Mitch Tempo, a Realtor at Keller Williams Realty Maui.  First post on here, and just wanted to introduce myself to everyone out here.  I'm born and raised on he island of Maui, and have been a real estate agent now for 4 years.  Looking to better myself in understanding more what different investors wants and needs are.  

What are some of the things you are looking information wise when deciding to purchase an investment property?  ie: what information is a must have for you to make a fast decision on whether to buy or pass on a sale?