Newbie from Oahu Looking to Invest in Rentals or Flips

39 Replies

Aloha all,

I am from the Island of Oahu I Hawaii. I am a newbie investor who bought a flip in Ohio 7 years ago in my 401k with seller financing. I had no idea what I was doing. I am now getting divorced and had to file financial documents and to my surprise noticed that my investment had doubled in value. I then decided that I wanted to pursue real estate investing. I'm not exactly sure how I stumbled onto this site, but I did and have since been listening to the podcast and several audio books by Brandon (who I learned lives on Maui and I will need to look him up) and David G. as well as the audiobook Crushing It in commercial real estate, which references this site often.

I own an IT service business with a focus on big box retail stores. Some of my clients include Louis Vuitton, Macy's, The Home Depot, Costco, Safeway Stores, State Farm Insurance and many more. I recently began a merger with another company and at the end of five years plan to become a full time REI. I am interested in flips and rental properties with a goal of owning 10 20+ unit apartment buildings in the next 10 years. I am looking for distressed properties which can be had at 70-80% of full value, that can be rehabbed and rented and refinanced (yes BRRRR) and can pull the equity out to use to buy other properties. I am looking to buy long distance as the cap rates here are ridiculously low due to the limited supply of land and thus housing. I would love to hear about your experiences and where you think the hottest, and not hottest, places to invest are located. I have the money to be a cash buyer as well as to finance my first deal. I am currently searching the Cincinatti, OH area and Northern KY. I am interested in looking at other places as well.

Originally posted by @Don Mangiarelli :

Aloha all,

I am from the Island of Oahu I Hawaii. I am a newbie investor who bought a flip in Ohio 7 years ago in my 401k with seller financing. I had no idea what I was doing. I am now getting divorced and had to file financial documents and to my surprise noticed that my investment had doubled in value. I then decided that I wanted to pursue real estate investing. I'm not exactly sure how I stumbled onto this site, but I did and have since been listening to the podcast and several audio books by Brandon (who I learned lives on Maui and I will need to look him up) and David G. as well as the audiobook Crushing It in commercial real estate, which references this site often.

I own an IT service business with a focus on big box retail stores. Some of my clients include Louis Vuitton, Macy's, The Home Depot, Costco, Safeway Stores, State Farm Insurance and many more. I recently began a merger with another company and at the end of five years plan to become a full time REI. I am interested in flips and rental properties with a goal of owning 10 20+ unit apartment buildings in the next 10 years. I am looking for distressed properties which can be had at 70-80% of full value, that can be rehabbed and rented and refinanced (yes BRRRR) and can pull the equity out to use to buy other properties. I am looking to buy long distance as the cap rates here are ridiculously low due to the limited supply of land and thus housing. I would love to hear about your experiences and where you think the hottest, and not hottest, places to invest are located. I have the money to be a cash buyer as well as to finance my first deal. I am currently searching the Cincinatti, OH area and Northern KY. I am interested in looking at other places as well.

Welcome to the site Don.

Hey Don, so sorry to hear about the divorce, that's real tough. However, welcome to BP and you're amongst a great group of folks who will help you out. Godspeed in your investing! 

@Matt Ward

As I said in my original post, I invested in, rehabbed and sold a house in Ohio using seller financing. When I saw that my money doubled in 7 years, it prompted me to look into real estate investing as a vehicle to fund my retirement. The more I looked into it, the more I saw the potential in investing in rental properties. There are many blue collar towns and cities across the Midwest, but I have experience in Ohio, that then became my focus. Since I am still a complete newb, I would love to hear where and why you invest in the areas that you do. I want to learn and be successful.

@Ricardo Gomez

Thanks! Flipping is something I may get into later. Michael Mazzella, a friend of mine, is the king of flips here. Since the island is small, it is difficult to pick up houses at auction because he and his students are all over them, many times before they get to auction. I am most interested in the multifamily and apartment game, and with the price of real estate here, it just doesn't make much sense.

@James Wise mahalo! I would like to speak with you when I get a little more educated and am ready to pounce. I have been looking in Cincinnati, but Cleveland is intriguing as well. I have cash to invest and can do an all cash purchase, rehab, etc. I will be looking for a contractor and a property manager as well if you know of any you could recommend. I look forward to working with you.

Welcome to the island scene, Don. I live in San Diego now but do a fair amount of flips and wholesales in Hawaii, mostly Oahu. I've never purchased a property at auction. It just takes diligent marketing, and the auctions are only one place to find deals. That's the never-ending game of flipping - marketing for deals and raising capital to buy them, rinse and repeat.

@Don Mangiarelli I’m in the process of buying 50 homes in Dayton, Akron and a couple surrounding areas. I’m not going to keep all of them and will probably sell off 20 or so. Based on initial due diligence I will probably sell these in the 15-25k range based on their condition and location. I’m flying out next week to meet with prop managers realtors contractors, and a few potential buyers. I’m trying to build my rental base and found a bulk deal for 50.

Originally posted by @Don Mangiarelli :

@James Wise mahalo! I would like to speak with you when I get a little more educated and am ready to pounce. I have been looking in Cincinnati, but Cleveland is intriguing as well. I have cash to invest and can do an all cash purchase, rehab, etc. I will be looking for a contractor and a property manager as well if you know of any you could recommend. I look forward to working with you.

 If Cleveland is on your short list you're definitely going to want to take some time to read The Ultimate Guide to Grading Cleveland Neighborhoods.

Originally posted by @Don Mangiarelli :

Aloha all,

I am from the Island of Oahu I Hawaii. I am a newbie investor who bought a flip in Ohio 7 years ago in my 401k with seller financing. I had no idea what I was doing. I am now getting divorced and had to file financial documents and to my surprise noticed that my investment had doubled in value. I then decided that I wanted to pursue real estate investing. I'm not exactly sure how I stumbled onto this site, but I did and have since been listening to the podcast and several audio books by Brandon (who I learned lives on Maui and I will need to look him up) and David G. as well as the audiobook Crushing It in commercial real estate, which references this site often.

I own an IT service business with a focus on big box retail stores. Some of my clients include Louis Vuitton, Macy's, The Home Depot, Costco, Safeway Stores, State Farm Insurance and many more. I recently began a merger with another company and at the end of five years plan to become a full time REI. I am interested in flips and rental properties with a goal of owning 10 20+ unit apartment buildings in the next 10 years. I am looking for distressed properties which can be had at 70-80% of full value, that can be rehabbed and rented and refinanced (yes BRRRR) and can pull the equity out to use to buy other properties. I am looking to buy long distance as the cap rates here are ridiculously low due to the limited supply of land and thus housing. I would love to hear about your experiences and where you think the hottest, and not hottest, places to invest are located. I have the money to be a cash buyer as well as to finance my first deal. I am currently searching the Cincinatti, OH area and Northern KY. I am interested in looking at other places as well.

Hello and welcome! Best of luck to you! 

@Don Mangiarelli

Don,

I am a real estate investor and active duty Navy stationed on Oahu. I am meeting up for lunch Aug 15 at 1100 (location TBD) with a couple of other Navy real estate investors if you wanted to join us to chat and exchange ideas.

Regards,

Don Roberts

Originally posted by @Don Mangiarelli :

Aloha all,

I am from the Island of Oahu I Hawaii. I am a newbie investor who bought a flip in Ohio 7 years ago in my 401k with seller financing. I had no idea what I was doing. I am now getting divorced and had to file financial documents and to my surprise noticed that my investment had doubled in value. I then decided that I wanted to pursue real estate investing. I'm not exactly sure how I stumbled onto this site, but I did and have since been listening to the podcast and several audio books by Brandon (who I learned lives on Maui and I will need to look him up) and David G. as well as the audiobook Crushing It in commercial real estate, which references this site often.

I own an IT service business with a focus on big box retail stores. Some of my clients include Louis Vuitton, Macy's, The Home Depot, Costco, Safeway Stores, State Farm Insurance and many more. I recently began a merger with another company and at the end of five years plan to become a full time REI. I am interested in flips and rental properties with a goal of owning 10 20+ unit apartment buildings in the next 10 years. I am looking for distressed properties which can be had at 70-80% of full value, that can be rehabbed and rented and refinanced (yes BRRRR) and can pull the equity out to use to buy other properties. I am looking to buy long distance as the cap rates here are ridiculously low due to the limited supply of land and thus housing. I would love to hear about your experiences and where you think the hottest, and not hottest, places to invest are located. I have the money to be a cash buyer as well as to finance my first deal. I am currently searching the Cincinatti, OH area and Northern KY. I am interested in looking at other places as well.

Hey Don, welcome to the site! I have been investing in Cleveland for a number of years (from a distance... I live in the San Francisco Bay Area), and I have gathered tons of info that you might find useful if you are interested in that market. I focus on buy and hold residential rentals. Feel free to add me as a connection or PM me!

Don,

I plan to be in Hawaii in the coming weeks and could discuss ventures in a few areas local, west coast and here in Texas. I'm originally from CA. Let's connect!

Originally posted by @Don Mangiarelli :

@Don Roberts that would be fantastic! LMK where

Don,

How about Aug 15 @ 1100 at 604 Restaraunt (located by the AZ memorial just under the Ford Island Bridge):



https://www.google.com/maps/place/Restaurant+604/@21.3703313,-157.9519428,14z/data=!4m5!3m4!1s0x7c006f444fc07e7b:0xe88f4f05f6b8cae0!8m2!3d21.370331!4d-157.936622

It will be myself plus 1 to 3 more active duty Navy Officers.  I can also reserve a bigger table and put it up on BP meetups if anyone else wants to go.

Regards,
Don



https://www.google.com/maps/place/Restaurant+604/@21.370331,-157.936622,17z/data=!3m1!4b1!4m5!3m4!1s0x7c006f444fc07e7b:0xe88f4f05f6b8cae0!8m2!3d21.370331!4d-157.936622

@Don Mangiarelli

Welcome to BP! Different circumstances got us all here one way or another so congrats on making the psychological plunge into REI despite the challenges/situation.

I have interacted with @Don Roberts in the forums and based on what you've shared I believe he'd be a great resource for you.  I'd love to attend that AZ memorial lunch as well!

I invest in multifamily in Huntsville, AL and would be happy to connect with you to share what I can.  

I also organize another investor lunch meetup in downtown Honolulu if that is ever convenient for you.

https://www.biggerpockets.com/forums/521/topics/731912-rei-professionals-lunch-downtown-honolulu

Great to meet yet another REI making it happen from the islands. The local community continues to grow.

Aloha,

Kiley

Originally posted by @Kiley N. :

@Don Mangiarelli

Welcome to BP! Different circumstances got us all here one way or another so congrats on making the psychological plunge into REI despite the challenges/situation.

I have interacted with @Don Roberts in the forums and based on what you've shared I believe he'd be a great resource for you.  I'd love to attend that AZ memorial lunch as well!

I invest in multifamily in Huntsville, AL and would be happy to connect with you to share what I can.  

I also organize another investor lunch meetup in downtown Honolulu if that is ever convenient for you.

https://www.biggerpockets.com/forums/521/topics/731912-rei-professionals-lunch-downtown-honolulu

Great to meet yet another REI making it happen from the islands. The local community continues to grow.

Aloha,

Kiley

Kiley,

Definitely come on by for the lunch meeting on the 15th.  The more the merrier!

Mahalo,
Don

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