All Forum Posts by: George You

@Jeremy Baker  , I just pm'd you as well, Thanks for being open to sharing!  Lived in Fort Collins for 4 years prior to moving back home and had a great time!  Miss snowboarding, but being back in the islands...can't beat it unless you strictly look at cost of living.  

@George You having that USD student market is great to have.  Not sure what your investment portfolio looks like but  Have you ever planned to sell as an exit strategy?

I ask because in my case, my sibling plans to live in the house/ condo that will eventually serve as a vacation rental/ vacation home if she needs to move in the next few years.  

Hi @George You -

Busy season for our property is whenever kids are out of school and families are on vacation. We have had a few adult groups as well. They tend to turn up for events on the island which happen throughout the year. (Next month we have a group of bikers for a bike week event.)

Re: the podcast, I'm out of pocket until next week, but you can send me a link to it and I'll give it a listen next week to see if it might be a good fit...

 @George You PM me and I'll give you the link to our VRBO listing. I think there's a rule here about posting things like that on the forum since it's considered advertising.  I can tell you it's in the Kihei Kai Nani complex right across the street from Kamaole II Beach in Kihei.

Last year was our first full year and we brought in just over $30,000 in rent and this year we are scheduled to be just at $32,000. This of course does not include any expenses, just the amount of rent collected.

Also, I did state in a different  thread a while back that we were 89 - 90% occupied, but that included the dates that we used the condo, which I guess really doesn't count towards your occupancy. 

@George You thanks for the tips!  May I ask, What deterred you from investing in Hawaii or is it something you are still considering?

Aloha @Kahanu Noa!  We own a vacation rental property in Kihei, Maui.  We've owned it since March 2012 and it's been very successful for us and we continue to keep an eye on the market there for another property.  I grew up on Oahu and now live in Denver and have been going to Maui every yr since my wife and I got married on Maui in 2007.  So although I'm no expert on the Maui market, I'm know it fairly well.

We were lucky and got a great deal on our property in 2012 and prices have really gone up since, which has kind of kept us from buying another property there.  With the level prices are at now, you would probably have to put down 50%+ to come out cash positive each year.  That being said, we would definitely buy another property there and are always on the lookout for a good deal.

Feel free to PM me and I'll be happy to share our numbers, experience and insight in more detail.

I'll be interested in seeing how this thread develops, and what peoples' experiences are.  Because I have never been able to figure out how the numbers work.

Me and my siblings share ownership of a (inherited) beach cottage.  Worth probably right about a million.  The absolute max we could get for Gross Rent would be maybe $25k over a ten week summer season (summers aren't really 10 weeks anymore, for summer rentals up this way.  School extends too late and starts too soon; the season is down to about 8 weeks.)

Obviously $25k would never work as return on a million invested.  So I'm really curious how this sort of thing can work for people.