Neophyte from Honolulu Hawaii

10 Replies

Hi everyone,

My name is Duke and I'm a beginning investor from Hawaii. I was born and raised here so I am used to the crazy prices and lack of cash flowing properties ;-) I'm an engineer by background so I love my spreadsheets and internal rate of return analysis! The downside is that I did spend a year or so in analysis paralysis land several years ago when I made my first attempt to get my investing career off the ground. But I think I've got some real momentum now!

Currently I am putting in offers on multifamily properties in the Honolulu metro area (and surrounding 10 miles or so) with the goal of living in one unit, renting out the rest and covering PITI and then some. That will allow me to save more of my earned income to pour into the next deal while benefiting from tax advantages, appreciation, mortgage pay down, and learning to be a landlord!

My near term goal is to accumulate enough properties such that I have a passive income of $4k per month which about equals my current living expenses. Once I hit that then I'll aim higher :-)

I am looking for connections in Hawaii and would love to meet up and get coffee. I am in "team building" mode, so would love any referrals for these professionals:

-accountants with RE investing experience 

-attorneys w REI experience

-RE agents w REI experience

-general contractors

-hard money lenders

-RE investors

I am willing to shadow and assist other successful investors for free in exchange for the opportunity to learn. Sweat equity, doing drawings and permitting assistance, marketing, analysis, you name it.

On a personal note I grew up on the north shore of Oahu and I love to surf. I'm excited to be joining the community and look forward to learning from you all!

Aloha,

Duke

Aloha from Hawaii Kai, @Duke Hartman !

Good to see you here on BP, and taking another crack at RE Investing. I've got a pretty big team and operation going here on Oahu, with 13 deals in progress and we just put 5 new house flips into escrow in the past 30 days. (Yeah, this market is rocking for that sorta thing) ...and I'd be happy to share info with you. Feel free to PM or call.

Create an Awesome day!
~Michael

@Duke Hartman

Welcome to BP!  I, too, was born and raised on Oahu, but I live in San Francisco now. It's great to see local people from Hawaii investing back home. One of my goals is to also invest back home which will give me an excuse to visit more often!

My dad is a realtor there and my uncle has a construction business. It would be good to hear experiences about flipping homes on Oahu seeing that it relates to my background in architecture.

Looking forward to hearing your stories and I'll have to connect with you and @Michael Mazzella to stay engaged in what's going on in the motherland!

Mahalo,

Sherwin

Aloha @Duke Hartman . As with the others, welcome to BP. I do a fair amount of flipping on Oahu from afar as I've since moved to San Diego, where I do deals here and up in SF in @Sherwin Gonzales 's area. I'll probably be back on island in the early spring at some point to walk my current projects.

The Oahu scene is great and looks to continue to get better through 2016. It can definitely take a while to build some momentum but keep at it - there are some great opportunities to be had and it only takes a deal or two to really grease the wheels.

@Duke Hartman  

Hi,

I'm also a beginning investor living in Honolulu.  I'm currently in escrow now on a primary residence condo in town.  Let's get coffee sometime as I'd love to chat about RE! PM me your email.  

Duc 

welcome. Always glad to see more Hawaii people on BP. I'm always looking to meet and learn with other investors. PM if you want to talk

@Michael Mazzella  thanks for the welcome! Glad to see you're still at it! I definitely would like to buy you a coffee or lunch sometime and catch up. Sounds like business is moving.

Thanks @Sherwin Gonzales ! I'll definitely be posting about my adventures here - will do my best to make them success stories and not war stories...

Thanks for the welcome and encouragement @Michael Borger . I think we may have met at a REIA meeting a while ago. Glad to know you can keep the investing going from oversea. I plan on doing that in a few years or so.

@Duc Ong glad to know there's another newbie learning the ropes next to me. Sure thing, I'll message you my contact.

Aloha

Duke

@Duke Hartman Aloha man. I'm eager like you to get things going as well. You're so lucky to be from North Shore. I'm up there often surfing at Ehukai. What a season it has been. Unfortunately, I don't have much multifamily experience but could help you on the North Shore vacation rental and long-term buy and hold arena. Biggest challenges are financing for me, getting that 25% down Hard Money guys need has been tough with the price points we have here. Tons of opportunity though. Good luck out there. 

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