All Forum Posts by: Travis Henry

Aloha Investors!

Come join us for our monthly REI Professionals Lunch in Downtown Honolulu! These casual lunches are designed to bring Honolulu real estate investors (at any stage) together for networking and discussion. There will be no pitching of any products or services.

This month's topic:

Making the Move to Multifamily presented by (our very own) Kiley Nakamura!

• Learn the steps he took to go from zero to 50 doors in a little over a year and how he plans to double that production in 2020.
• Discuss some of the mistakes he's made along the way.
• Get tips on creating a plan, recruiting a team, finding a deal, and taking action.

Agenda:

11:15 - "Long time no see"ing

11:25 - Welcome and Kickoff

11:30 - Making the Move to Multifamily

12:15 - Q&A

12:30 - Individual progress updates and open discussion

13:00 - Pau

Parking is available at Aloha Tower Marketplace and Spaghetti Factory is located at the front of the building as you cross the street from the parking lot.

To save your spot, please click "attend" above and RSVP here: http://bit.ly/eventbriterei

If you have any questions, feel free to send me a DM or email at [email protected]

Aloha Investors!

Come join us for out monthly REI Professionals Lunch in Downtown Honolulu! These casual lunches are designed to bring Honolulu real estate investors (at any stage) together for networking and discussion. There will be no pitching of any products of services.

There will be NO SPEAKER this month as our agenda will focus on structured networking among the group.

Agenda:

11:15 - "Long time no see"ing

11:25 - Welcome and Kickoff

11:30 - Assigned groups of 4 based on similar interests/goals

12:00 - New assigned groups of 4

12:30 - Open networking/continue discussions

13:00 - Pau

Everyone will meet at least 6 people in a relaxed-open environment. Join us for some good food, good fun, and some great REI conversation.

Parking is available at Aloha Tower Marketplace and Spaghetti Factory is located at the front of the building as you cross the street from the parking lot.

To save your spot, please click "attend" above and RSVP here:

https://www.eventbrite.com/e/rei-professionals-lunch-downtown-honolulu-tickets-7392838880

If you have any questions, feel free to send me a DM or email at [email protected]

@John Rankin I know you brought up Cory Nemoto at last week's meetup. This might be a great opportunity to meet Cory and network with other local investors!

@Theresa Harris That’s a great point. I’m not sure if they’ve considered doing that, but I think in their minds, the simple solution was to have two houses - one for each child.

I guess another option, similar to what you’re suggesting, would be for them to just buy a single home in Vegas to be split 50/50 between the kids, and put away the rest of the cash. I don’t get the feeling that they’re NEEDING the cash flow from a rental home in Vegas, nor that they’d want to have to deal with a PM. Definitely not trying to self manage a rental in retirement!

@Scott Smith Thanks Scott! I'll pass along your blog post!

@Ola Dantis @Noah Mccurley Amen!

@Enrique Mejia We briefly discussed a 1031 with a scenario similar to what @Dave Foster mentioned in his post. Dave was also spot on about their intention to keep things as simple as possible. In this case, it seems like buying two Vegas homes with the proceeds from the Hawaii sale is the most optimal option.

@Jay Hinrichs I think they travel with Vacations Hawaii - Omni Airlines. Definitely not a Hawaiian Airlines, but to them, the convenience of the Vacations Hawaii package can't be beat!

@Frank Wong Thanks for the insight, Frank. This seems to be the way they're leaning...especially the buffet!

@Isi Nau @Bill B. Appreciate you running me through the scenario. I'll definitely connect with a mortgage expert and discuss with a CPA to be sure we understand what the numbers would look like on the back end.

@Stephan Kraus Hawaii Kai on Oahu. They're still in the very early stages of planning a move, so it'll be a little while before they execute. Good luck with the sale of your property!

My grandparents are retired and own their home outright here in Hawaii. It's probably worth a little over $1.2 million , and they're considering selling it and moving to Las Vegas.

Their plan is to buy two SFHs in Vegas with cash from the proceeds of the Hawaii sale, live in one and rent out the other. When they pass, one of the homes would go to my mom and the other to my uncle.

A little more context:

• They would prefer not to re-leverage the Hawaii house (or use leverage on the Vegas homes), though they haven't ruled it out.
• House hacking (either with roommates or in a MFR) isn't an option for them.
• They chose Vegas because it's the 9th Hawaiian island and they visit 2-3 times per year.

I'm wondering if there are any other creative strategies for us to consider. Don't know that there is, but I figured I'd put it out to BP nation.

@Alvin Goo Look forward to meeting you in a couple of weeks!

@Yonah Weiss What an interesting question! I was just talking with an investor buddy of mine about this very topic since we both studied economics in school. While a handful of courses helped us to get comfortable working with numbers and large data sets, it was an expensive way to learn these skills - in terms of both monetary and opportunity costs.

However, like many others in this thread, my degree got me in the door at my W-2, which has made getting conventional loans pretty straightforward (so far).

@Tim Crosby LTV is just another way of expressing the amount of equity in a financed property. For example, 75% LTV implies 25% equity. I don't know if there's a required LTV to qualify you for a second FHA with your growing family, but hopefully the broker you're speaking with will be able to clear that up! Good luck!