Maui real estate is great!
Investment Info:
Single-family residence buy & hold investment in Kihei.
Purchase price: $272,000
Cash invested: $80,000
Unit located in Southpoint condominiums! Beautiful and fully renovated ground floor unit. This is a 2 1 1/12 750 sq ft unit with a beautiful yard.
What made you interested in investing in this type of deal?
Bought it through an auction website at what I believed to be a fair price at the time and given the market on Maui.
How did you find this deal and how did you negotiate it?
Auction website
How did you finance this deal?
cash
How did you add value to the deal?
Unit was fully renovated from top to bottom with a budget of about 80K.
What was the outcome?
This unit rents in a matter of days as it is better than most if not all other options in the same category.
Lessons learned? Challenges?
Need to learn on how to negotiate better with contractor! I am spending too much renovating, llolllllll
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Just the website site and the local title company. I was skeptical about buying through xome.com, but in the end it work out good and I think I got a good deal. Not great just good!