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Gilbert Julian
  • Kapolei, hi
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I want to move central, what should I do?

Gilbert Julian
  • Kapolei, hi
Posted Jul 1 2017, 21:42

Hey guys,
I'm fairly new to real estate. But after listening to BP, I tried the concept of house hacking I was hooked. I literally rent out a portion of my house as a studio and I get almost half of my mortgage paid. Even if my mortgage is 3100 -_- every little bit helps, you guys know the typical mortgage here in hawaii haha. I live in Makakilo, as you know kapolei is booming as the second city, but is far from EVERYTHING. My question is, where do I go from here? I want to move more central and hopefully start a care home business preferably salt lake, manoa, kaimuki area. Should I sell my house and do a 1031 exchange? Or should I try and rent out my both sides of my house, 1300 the studio, and maybe 2500 the other portion and cashflow it about 500-700 dollars, and then save up for 20% downpayment for a second house. What do you guys think, what would be the best way to move central, increase my cashflow, and spend the lease amount of downpayment. Thanks really enjoying the support. 

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