I'm moving from Colorado to Hawaii. Plan on renting the home I'm in now in Colorado. Looking to buy more investment properties to rent. Should I stay buying in Colorado or start buying in Hawaii. Hawaii real estate is about three times what Colorado cost.
I lived in Maui for a while you have to have deep pockets. Plus if you already have a team in Colorado might be easier but you can probably always find a deal
I don't know about either place, but from what I hear about CO in many cases returns don't make a lot of sense.....sales prices too high and rental rates too low. What do you think your current house is worth and what do you think it will rent for?
It may depend on the kind of rental you want to have/ long-term or short-term! Single family in Colorado is a pretty solid bet- but Hawai'i might mean more short term rentals. The location may drive sone of your decision/making. And in Hawaii- watch those HOA fees!
Hi! Im currently living in Hawaii. (Big Island)
What island are you moving to? That will affect the appropriate strategy to take.
But and hold investing is a hard strategy to implement.
SFR are a little more realistic but the acquisition side is a little high and your basically creating yourself a job... as far as managing and what not.
Flips or Fix and flips are probably the most viable strategy is Hawaii
Aloha @Kevin Grimm I see this post is 8 months old. Did you move yet? Which Island? I'm on Maui and long term rentals are tough to find. STR's are a big business over here. You do need 25-30% down though. Let me know any questions as I've been here 27 years. Yes it is more expensive but thats okay - I love it here. ps No one should live anywhere colder then their freezer!
I’m an agent on Oahu based in Honolulu. The market is unique right now with these record low interest rates, you can buy a condo and have a monthly mortgage loan payment + maintenance fees + utilities for the same amount as rent, except you get tax benefits and equity growth.
I highly recommend buying something here, it’s like Gold! Now is an amazing time.
If you are looking for cashflow Hawaii is one of the worse places for it. Of course unless you go to D or low C class areas.
I live here but choose to invest where the numbers make sense. Let me know if you need any specific help.
Can I PM you for some questions on investing in Oahu? I recently moved here and am looking to get my portfolio started.