Kailua Kona, HI · Member since 2018 · 12 posts · 2 votes
Recently, I’ve developed more interest in building wealth through investment properties. I am currently a 27-year old high school teacher on the big island of Hawaii in Kona. My savings are limited but I would like to purchase a multi family unit to rent out.
I have no plans to stop teaching to pursue this full time and wanted to know what resources or areas of this app people may recommend for someone in this situation (looking to invest part time)?
I plan to attend a Real Estate Investment Club meeting in Kona in January to start networking and get ideas from those successful in real estate investment in the community, but would appreciate any additional advice for first steps/podcast episodes/resources to use as starting points for my own research before then!
Real Estate Agent · Honolulu, HI · Member since 2015 · 450 posts · 196 votes
7y
@Brian Kispert I'm also a high school teacher and investor. I would recommend finding something that could qualify for a convention loan that requires some updating. After doing the updating, run the other rooms as short term rental, and if the numbers work, you could live for free.
Carolina · Member since 2017 · 519 posts · 222 votes
7y
@Brian Kispert I feel like house hacking a triplex or quadplex would be the route to go here. Limited capital... So low down payment. You can get that first time home buyer loan. Like 3% down or something like that? You love I'm one unit and rent the other unit or units out. Could do this with a duplex as well.
Kailua Kona, HI · Member since 2018 · 12 posts · 2 votes
7y
@Kath Marie Thanks, Kath! I ran my friend’s Airbnb for a year so I’ve got a little of that experience under my belt.
And as far as I know, there is no volcano insurance so hopefully the volcano I’m living on (not the one highlighted in the media) doesn’t get cranky!! But I will look into that!
Kailua Kona, HI · Member since 2018 · 12 posts · 2 votes
7y
@Brian H. Thanks for the input! I was thinking of something similar to start off - living in one room and renting out the other. At this point it will need to be a low down payment but I hope that over time (I’m patient) it will garner me a bit more wealth to invest in other properties!
Real Estate Agent · Honolulu, HI · Member since 2015 · 450 posts · 196 votes
7y
@Brian Kispert I'm also a high school teacher and investor. I would recommend finding something that could qualify for a convention loan that requires some updating. After doing the updating, run the other rooms as short term rental, and if the numbers work, you could live for free.