All Forum Posts by: Adelle Swan

Hi @Adelle Swan!

I'd recommend that you keep/start learning! Podcasts, Books, and Mentors you find by networking.

I'd pick up a copy of Set for Life by Scott Trench as it has a good framework for financial independence, especially for a newer investor. Real Estate is just a part of your total financial picture so don't become too focused on just real estate. You'll want to learn more ways to increase your income now and in the future, keep your expenses low, and take the difference to invest into assets, real estate/business.

As already mentioned above by @Dominick Galinis, a house hack will probably be one of the best strategies for you to get started and take action while giving you a great return because of the low % down needed to get started. Once you get to this point, make sure to run your numbers for both while living in the house hack (lowering your living expense to less than what it would be to rent in your area) and post move out where you need to be at least break even after accounting for your monthly payment + maintenance, capex, vacancy, property management.

Best of luck getting started! Here for you with any questions you have along the way!

Hi Adelle. I generally agree with the others. As both as an investor and RE agent, I have seen a few people get in over their for their first investment. However, in our case, it sounds like you have very good people that your friend's have used for a fix and flip. I generally like a fix and hold as I have never sold a property though I may in the near future because I enjoy the long term appreciation gains, tax incentives and monthly cash flow. Based on the info you provided...if you can get a good deal on a duplex or triplex, I would aim for that and rehab it to higher end.

My opinion is to go with the MF LTR. I like the stability and predictability that comes with it. I worry about STRs with the continuing rise in inflation and the Fed's aggressive actions. If we enter into a strong recession, vacations will be the first things off of people's "to do" list. However, I am not a STR investor so don't take my advice on that too seriously.

 Hi Adelle!

first off, congrats on trying to make the first steps into the world of real estate. It’s going to be a wild ride, for sure.


I would definitely say for your first deal to steer clear of fix and flips on your first deal. Unless you have prior knowledge in the field, it could probably lead to more harm and headaches than good. 

Now, for LTR Vs STR. For your first deal I would ask you, what is your current living situation and would you be open to doing a house hack? I think the benefits of HH are immense and is truly investing with training wheels. If that's not in your wheel house, whether due to your current lifestyle or what have you, I would ask, what do you want to do? My first property (outside my househack) was STRs because I wanted the quicker cash flow so then I could scale my LTR portfolio. But that's just my preference. Some would recommend doing the LTR because it's a bit of a safer play atm with the recession looming and all of that. But, overall I would say it depends on your goals and what you want out of real estate

Hey @Adelle Swan, I would personally avoid the rehab and flip if this is your first deal. Yes they can be profitable however, you can really run into some issues and for a first deal, it would be smart to mitigate risk as much as possible in my opinion. From the investors I have worked with in the area, (especially Lauderdale, Boca, Delray) I would say the multifamily market is going to remain incredibly strong and profitable. I have some investors that even are fine with paying more for those at the moment just because they have such a strong future especially in the state of FL. 

As far as going with a single family and doing STR, those can be extremely great investments as well. In the end I would do what lines up best with your long term goals. Many ways to achieve the same long term result.. just depends on what yours is.

My line of thinking is.. we know RE investing long term can bear tons of fruit. If you own 10 units and occupancy for some reason drops.. you can still get by with 60,70 or 80% occupancy. If for some reason something happens to that single family.. Profits can potentially go to zero for a period of time. Since I personally work these areas and am licensed, let me know if there is anything I can do. I get off market deals coming across my desk as well so if you are possibly interested, shoot me a message and we can stay in touch.

Best of luck to you!

@Adelle Swan
Stay away from the rehab and flip if this is your first deal unless you're a contractor and have a few crews that can breeze through it at a really good price. If this is your first deal might be worth going with option C and building systems to manage properties that are LTR's then down the road get an STR which is more management intensive. You can use the systems you built to manage properties via LTR to help you with STR's vs jumping in head first and never having managed a property. You could also just have a manager for the STR and you wouldn't have to make those systems, but if you are local, you might want to manage it yourself.

 Aloha Adelle, 

The weather is beautiful over here. You won't regret the move. Let me know if you have any questions. 

I am looking to begin in wholesaling real estate in Indiana. Any advice is highly welcomed and wanted. My biggest question is how do you know if a property is a deal or not. What do you look for to know if the property could potentially be a deal.

Hi Micah, 

Here are two articles that I found useful after reading your forum post. 

https://www.hawaiiliving.com/b...

https://hnldoc.ehawaii.gov/hnl...

I did not have the time to go through Bill 41 since I am at work but you might be able to find the answer there. I will try to look into it next week when I am on vacations in Mexico. I recently moved to Oahu and have been looking at investing here. Let me know if you would like to connect or if you know about any meet ups.