All Forum Posts by: Sayed Jaffar

Price: $1.2M

Offer: $900k

I had my agent call to see if the seller would accept this price because it's been on the market for a year.

The seller's agent said the owner had rejected a $1M offer in the past, but it's been awhile so maybe and asked for a formal offer with proof of funds and pre-approval.

Why?

Why not just ask the seller since they'd already declined a $1M offer instead of having us do more work.

From my perspective, if they want to sell, they have a verbal offer they can accept, and if they don't want to present a verbal offer, the seller probably isn't very motivated.

What would be the point of sending a formal offer in this scenario?

Friends I am in need of some guidance. I currently own a home in Hawaii, unfortunately my family and I are moving and we want to make the correct choice. We have the means to rent our current hawaii home and purchase our next home in the mainland. The only problem is that we will be negative cashflow with our current hawaii home by about 1k every month. If we sell, we will make some profit but not much. With the Hawaii market, will it be smart to be negative for a few years and let appreciation catch up? Or will it be better to take the small profit and buy elsewhere?

we purchased the home at a 3% rate and have owned it for about 2 and a half years. The negative 1K per month includes the property management fee. Honestly we could afford to go negative monthly without a huge financial burden. This would be our first rental and we would be living out of state.

Hello everyone, 

I bought a condotel in Honululu formerly knowns as Trump Waikiki in 2020 for 400k and it hasn't been a good investment at all. This will definitely be my last...

The hotel is currently getting rebranded and unit owners have the option to upgrade our rooms using the hotels "discounted and preferred" contractors for the "low price" of ~160k (again, the unit cost me 400k and is currently valued at ~340k). In addition, we're forced to pay ~1k/ month to help pay for the CAM upgrade fees. 

NOTE: the rebrand is this: https://www.hilton.com/en/hotels/hnlwiol-ka-lai-waikiki-beac... and everything in the hotel is getting upgraded. 

NOTE 2: if we choose NOT to upgrade the rooms, the units can't be in the hotel's pool of units to be rented out to guests.

NOTE 3: right now, I'm losing about $1,500/mo

My gut tells me to just get rid of this unit at a loss but I have a few questions I'm hoping someone can help me with (so far, I've asked some RE professionals I know but they don't have any idea).

1) If I was to pay the ~160k for room renovations, does this mean the room increases value by at least that same amount? 

2) Is there any way to know beforehand if this rebrand has the likelihood of increasing the value of the rooms, in particular mine?

3) Are there any other things I should look at before making my final decision on this unit I have?

Thank you so much for reading this post. I definitely learned a lot from this experience and I don't plan on making this mistake again.

I own a beachfront condo on oahu in hauula. I either want to sell it or get my equity out without dealing with my personal credit and a mountain of paperwork. currently a nightly rental as we are a historic hotel.

open to discussing my options. also there are other commercial investments on the property to include the building of another restaurant /bar/ cocktail lounge our land. major investment opportunity.

who can help me? 

Hi- I am looking at doing a flip in Mililani. I am curious about any potential barriers to look out for- timing, access/cost supplies, labor force? I’ve done rehabs on the mainland, and this would be my first in Hawaii so I want to be as prepared as possible and ensure my analysis accounts for everything (or as close to!). Thanks in advance!

I would like to pull out some equity from my primary property so I can start investing in real estate, but my house is in need of some renovation. Is it a good idea to take out a Heloc to do the renovation, then refinance after hoping that the renovation added a decent amount of equity to the property? My estimated property value is $1,300,0000. Remaining balance $400,000. Estimated cost of renovation $300,000. Any advice would be appreciated.