All Forum Posts by: Tauno Peters

Aloha Tinwin Wang,

If you fallow the rules it's not a big deal. Yes there are few existing permitted locations and licenses. So you can buy a property with an existing license or buy a property in the Hotel Zones that allow. It all depends on your budget and ROI. In the Kailua or Kahala are you are looking at a multi million dollar property if it has an existing license. If you stay in the Waikiki area you can get condos fairly reasonable. The condo Waikiki market is saturated with inventory currently. There are no (very few) tourists currently due to the Governors 14 day quarantine, and many are trying to sell. If you can weather the storm (not sure how long it's going to be) there could be opurtinituty. You can direct message me if you like some more info.

Aloha,

You have to run the numbers as if you were paying someone to manage it. After all expense paid and some set aside for vacancy, repairs, what is your ROI. Could you get a better ROI some where else? If you do decide to sell our brokerage can help you save a lot of agent commission. We list for 1% for our services and offer 2% as a COOP for a total cost of 3%. If you would like to talk more shoot me a PM

Aloha Daytyn,

I see your in Waialua, give John Hyatt a call just google EandHLegal  he works from home out in the three tables area.   He his very easy to communicate with and hard working!

Aloha If your looking on Oahu check out Executive Center LH are about $200k with fee available for about $150k. Some of the units are managed by Aston Hotel don't have to deal with airbnb. They get a lot of business traffic so year round it stays booked. I was looking at these for a buyer to live in full time, It's better for investor in my opinion. PM me and I can send you the listing

Aloha Hadar,

Were you planning on staying on the North Shore Oahu, for one week? If so what is your nightly budget? Are there areas of interest, surfing, skydiving, horseback? With a little info I can direct you to the area to look and also I do know some good short term rentals not sure if there available.

@Allyn Wijnveldt thanks for the response that helps. I noticed you joined recently (I'm kind of a lurker hahahaha). I just got my real taste license and have a background in construction if you would ever like to get together for coffee one day let me know!

@Anna M. thanks for the tip about bank statements.

Aloha,

I have a unit in Oahu Hawaii that some one from another Island applied to rent out. He is going to be living there but not running his business out of the unit. As being self employed he does not have much reported income, he will be using his business to pay for the rent. What are the documents that I should be asking for tax returns, financial statements, what is the best way to verify income? I have not rented to someone that is self employed before any other things to look out for? 

Thanks for any tips

Aloha,

My name is Tauno Peters I've been in residential construction for 20 plus years currently have a BC license that is inactive. I have worked in all types of residential construction from slum lords to billionaires, speck homes, flips , and dream homes. Currently I am  a stay at home Dad (house husband), my wife is very good at what she does, she is a CFP. I have always been interested in real estate investing and would really like to thank bigger pockets for supplying  all the great info for people to understand what it takes. 

I live in central Oahu, Hawaii. I currently have a rental property with three units on the North Shore, so I am very familiar with those two areas.

My ultimate goal is to purchase a 6-12 unit walk up in the UH area something with value add, but I believe I'm a coulee of years away from that.

I just passed my RE license exam and currently looking for a broker to work with to do property management, sales, work with investors or any thing else that would help them out. If anybody here is or knows a good broker please let me know.

Also just looking to do some more net working, I'm available during school hours, so if any body would like to get together for lunch or coffee, maybe you need help with a renovation budget for a flip or maybe you would like a second pair of eyes for a home inspection let me know I would like to get involved in the local investing community. 

Thanks

Tauno Peters

From my experience shoreline certification can be a pain. 6 months to 12 months is realistic and then they are only valid for a certain period of time so if you do not finish the project in time they will expire and have to get another one. Where is the project located? In the past people that I have worked with more or less ask for forgiveness, this is a risky step and would only advise with a good local architect and contractor willing because it also makes them look bad. Can you clean up the existing house, rent it out until you get all your ducks in a row. Also from what I understand the building department is backed up unless you hire an expediter, so another 6 months for plans and permits or additional 3k I believe

Good thing about the containers is that you can move more in as demand increases so you don’t have to go all out, and have it sit empty for a year or two. This post is giving me ideas!