All Forum Posts by: Daniel Patrick

Thanks for the reply's!  You guys got me thinking.  I am very glad I made this post!

The property is five acres.  Right across the street is the current growth boundary.  The way the current house is sited, dividing the property in half in the near future is a definite possibility.  

The house is a brick 50s ranch that is ~3000 sqft.  I would like to flip it into a long term rental, marketing it to horse people and hopefully higher quality tenants.  I could even see myself living there.. maybe thats why I am too emotional about it.  

There is a single family home that I have been following that has been foreclosed for awhile. It was posted on the MLS for a ridiculous amount and has set idle. It has gone up for auction (online) several times with no bids.

They are currently listing the house for 250k.  Auction starting bids started at 180 or so and are now down to 140k.  No takers.  

I am interested in the property because of the land value.  House may or may not be salvageable. 

What are your recommendations in moving forward, trying to get the best price for this property.  Should I contact the bank directly? Wait out a few more auction cycles, but risk losing it?  What would be a good offer, if I feel the land is worth 100k?  

Thanks in advance!

Thanks for you input Rich and Karen. I'll just have to take it slow and do my research!

Hey guys,

I am looking at purchasing a vacation rental in Hawaii (very early). I am out of state and plan on using a management company.

I am only interested in going forward if I am cash positive.

When I start crunching the numbers I am not sure what data is reliable. What is an accurate expectation of occupancy, income, and expenses? Where can I obtain an honest answer to these questions?

Any thoughts or shared experiences would be greatly appreciated.