First rental property in Kahului, Maui 2b/1.5b
Investment Info:
Condo buy & hold investment.
Purchase price: $110,000
Cash invested: $12,000
First rental, 2b/1.5b, in a class C complex.
What made you interested in investing in this type of deal?
Low buy in; easy investment to learn more about being a landlord.
How did you find this deal and how did you negotiate it?
Mailers and Text marketing;
How did you finance this deal?
Hard money loan
How did you add value to the deal?
Renovated kitchen and baths
What was the outcome?
Appraised about $50k higher than all in
Lessons learned? Challenges?
Easier to renovate if tenants aren't in unit (I inherited tenants) however, glad I was able to help them.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Worked with Nick at Civic Financial. Message me for contact info.