All Forum Posts by: Andrew Meikle

@Daniel Kong

I would put that much down for a manageable payment. Also just to purchase as I am on mainland they want 20% down for a second home. That way I can purchase then move. Not all is necessity but thought this to be the easiest.

I must to more investigating in to the potential of property investing. I am a bit intimidated by it. Where would you begin to educate??

@Michael Borger

All good things to consider and thank you for your wisdom.  I will keep to the drawing board here.  I will test this market before opening a business.  I am very intimidated by real estate investing but have seen the potential. 

I want to move to Hawaii and use my $200k equity to make moves with.  I would need at least 80k for the down payment.  What would you do to make the remaining work for you and spend wisely? I have the option of renting my home in Utah, and buying over there as well.

Aside from my mortgage, I am debt free.  The wife and I are not having children.  I also have a roommate to help with my mortgage there when I move.

@Mario Cuartas

I have definitely downplayed my love for making juice. I know this is a real estate group so I didn’t press too hard on this topic. I am realistic in thinking that juice may not be the most profitable especially in the beginning. My true dream of leaving my day job to pursue something I can wrap my heart and soul into is juice.

Selling and purchasing houses is a part of all of this. Your opinion on buying a 4 plex does sound very appealing and I will look into that. There is also jobs on that island that are in my field of work already (radiological protection). I am gonna start searching for 4 plexes to get a better idea. For some reason this seems very difficult to achieve but only cause I am new to all of this.

I am keeping my mind open new And big ideas. This is on point Mario! Thank you so much man.

Andy

@Bryan Martin I was misspelled your tag before. I replied in the above message to your comment.

I do agree that it may be best to see what May work there before buying a juice truck/trailer.

I do have juicing equipment now and have been learning the trade. I can very easily set up at farmers markets to test the viability of the business.

I am selling to friends and coworkers now and selling out every week. 35 bottles is about all I can produce now in a week as I have a big kid job.

@Jay Hinrichs @brianmartin

Part of the juice business plan is to run a Taiwanese shaved ice that will be infused with cold pressed juice. Making the snow itself it’s own texture and style. It would be a first in the world cold pressed infused shave ice company. This will give me something unique and different as it’s technically a healthy dessert item.

Brian: I have not spent any time on this island and yes there is some competition for cold pressed juice and shave ice on the island. I will have a good advantage being mobile and little to no overhead as the business will be paid for.

I have also considered once established investing in camper vans to rent on this island. They have a ton of camping opportunity on the island. This would be my step toward passive income. Ultimately to free up time and money for something like real estate.

@Jay Hinrichs

Thanks for the reply dude!

If you wanted to move to Hawaii and home is $300k. How would you spend $200k as a financial minded individual?

Keep in mind I do need to source my own income as market is thin.

@Bryan Martin

Thanks for the reply dude!

If you wanted to move to Hawaii and home is $300k. How would you spend $200k as a financial minded individual?

Keep in mind I do need to source my own income as market is thin.

Thanks for the guidance here.  I am new to this but have been fortunate to have great equity in my current home.

I plan to move to the Big Island of Hawaii in the next year.  I have appx 200K equity in my current home and want to use this to get there.  The job market is thin there and will have to start a business which will be a cold pressed juice mobile establishment.

The finances will look like this:  80k to the new home of 280k. I will finance the 200k.

Pay cash for the mobile business of appx 60k well equipped.  This will leave a buffer of 60k to ensure I start up, and can keep running.  All goes well this will leave 60k to also re invest into something else down the road.  

I reach out to ask you all as I am completely new to this and hope to turn my main home as I have done before.  I also would like to invest in real estate as time goes on with any extra money that comes in.

Thanks so much for any insight you may provide.

Andrew

Looking for advice:

I am looking to net appx $200k from my home and want to move to Hawaii.

New home will be appx $325k. I have been planning on building a cold pressed juice company as well as putting $80k or so on the new house.

I want to use my money wisely and think of long term. Is the $$ all better left in real-estate? If you had this amount to work with what would you do with it???