All Forum Posts by: Bryan Vukelich

@Zasha Smith - many thanks for sharing that info.  Aloha 

@Zasha Smith - congrats on such a profitable flip.  Curious if you want to share - who is your hard money lender?  I have one I like but yours beats his rate by about 1%.  Wish you well in your other endeavors.  

@Rob Hilton - I'm a realtor with Hawaii Life on O'ahu. If you'd like a referral to a quality agent in the Kona area who is familiar with the STR, please message me. And just want to clarify, regarding GET and TAT taxes, normally those are paid by the guest.

Wish you well in your search and happy to answer any questions you have.  

@Jacob Rosenkranz - it is difficult to find traditional small multifamily properties on O'ahu.  Fortunately, there are many single family homes that have either attached or detached rental units.  I have clients you have house hacked in the past and are currently doing it now, and it has/is working very well for them.  Have you been to O'ahu before?  Either way, are there areas on the island that you most desire to live?  Depending on your price point, you should be able to find a quality home for you and your family that can also generate rental income.  

Also, I'll message you directly a couple lender referrals.  I also know some contractors that might be of value to you.

If you think I can be of value to you in any way, please never hesitate to contact me - I am here to serve you.  I've been involved with real estate for over 20+ years and genuinely enjoy helping people achieve their real estate goals.  

Aloha 

Hi @Juan M Colome - if you want to share, I'm curious what made it such a negative experience for you?  

@Mohamed Elshehaby - I am a real estate agent on O'ahu and you are welcome to contact me at any time - I'm happy to serve you any way I can.  Thanks @Brandon Vukelich for sharing my name with Mohamed.  

Hi @Kekila Keuma - 

Do all of your siblings want to be cashed out? And how big is the lot size? I ask as there are certain requirements to build an ADU. Personally, due to long term property appreciation of real estate in Hawai'i, I like your idea of trying to find a way to keep the home in the family as long as it is not a financial burden. If your siblings do not need/want the cash, and you were able to build and ADU, you might be surprised what you can get for rental income. Perhaps the rental income could cover the mortgage and expenses and also give you each some monthly income. Or perhaps some siblings are bought out and the rest retain ownership.

And I agree with @Royce Talbo - money can create big problems between family members.  If possible, I highly recommend all the siblings have a direct conversation on what outcome would be best for each of you and then work on formulating a plan of action to get the best results for all of you.  Perhaps some can be

You might also contact an estate planner or probate attorney - they might have a creative solution I am unaware of.  

Happy to answer any questions you have.  If you want to talk to a property manager about potential rental income, I'm happy to give you a referral.  

It's a touch situation - I wish you the best 

Thanks @Skylar Jennings for the additional information.  Yes, that is a tough decision and only you and your family can decide what is best for yourselves.  I agree with @Nathan Gesner that Hawaii is an expensive and regulated market that is very pro tenant.  However, with cap rates being low here, there is obviously high demand from investors to own property here.  Also, stats seem to show that in more regulated markets, home prices are often higher than less regulated markets.  One main reason being is that the more difficult it is to build new homes, the more valuable existing homes area.  And as you know, land is scarce in Hawaii, there is much opposition to develop raw land, and even trying to build a new home, even in an area of existing homes, is often a very lengthly and costly endeavor to build new here.   

For the best cash flow, you can definitely find better opportunities on the mainland.  However, Hawaii appeals to people from around the world and now that many high income earners have the ability to work virtually, there is even greater interest in Hawaii housing than in the past.  There is also a shortage of properties to rent.  I wouldn't be surprised to see home prices drop here in the short term (not sure how much rents will dip - if at all), but long term I am bullish on Hawaii real estate and the historical price charts support this belief.

Best, 

Hi @Skylar Jennings,

Congrats to saving up that money.  I'm just not clear, are you planning to move to Arkansas but also try to buy property on O'ahu?  Either way, @Erik Browning had a good idea of getting a USDA loan.  You'd probably have more opportunities to use it in Arkansas but there are also areas on O'ahu that are USDA eligible.

Another option though is a local credit union here is offering a 30 year fixed loan at 4%.  Buyer just needs to be under contract by end of July 2022 though.  

Regarding if you missed the market - that I do not know.  The market has slowed a bit here but we are still hitting record prices and I'm still seeing multiple offers situations  - just not the frenzy that we had last summer.  I think prices might dip short term but I think long term, Hawaii is still  great place to own real estate.

If you have any other questions, I'm happy to answer them.   

Hi @Justine Lam

I recommend you contact Cary Chinn or Dennis Santiago - both are knowledgable investor friendly lenders.  And both can also likely connect you with an insurance company.  I'm unable to post their contact info so please message me directly if you'd like it. 

Good luck and happy to answer any other questions you have - Aloha