All Forum Posts by: Duc Ong

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $4,000,000
Cash invested: $49,000

Park Place is a 64 unit in Johnson City, TN.

🤝🏻The deal came through a direct to seller connection from our outbound marketing, for a purchase price of $4M. We were able to secure a $250,000 seller credit to help with the renovation budget.

🛠 We are partnering with Greenbrier Property Management to implement our business plan, which includes curb appeal improvements along with driving NOI growth through decreasing expenses and increasing revenue.

💰 The biggest upside to this deal is our plan to exit the Low Income Housing Tax Credit program. If successful, that should produce a sizable increase in value, since market value properties are worth significantly more.

@Bleys Wright Thanks! Hope to see you then!

💥Join us for an exciting Honolulu Multifamily and More

Virtual Meetup on Saturday August 21, 2021 at 9AM HST/12PM PST/ 3PM EST

📋 Agenda:

🔵 Open networking

🔵 Breakout Rooms 1

🔵 Cap Ex Planning

🔵 Breakout Rooms 2

🔵 Open Networking

Register in advance for this meeting:

https://bit.ly/HMM-Aug21

After registering, you will receive a confirmation email containing information about joining the meeting.

💥Join us for an exciting Honolulu Multifamily and More

Virtual Meetup on Saturday June 19, 2021 at 9AM HST/12PM PST/ 3PM EST

📋 Agenda:

🔵 Open networking

🔵 Breakout Rooms 1

🔵 Due Diligence Lessons

🔵 Breakout Rooms 2

🔵 Open Networking

Register in advance for this meeting:

http://bit.ly/HMM-jun21

After registering, you will receive a confirmation email containing information about joining the meeting.

Amazing deal!

@Prashanth Mannar It's definitely possible, but I would recommend sticking with legal STR in resort zones, such as Waikiki, Koolina, and Turtle Bay. PM me if you want to chat more.

💥 Join us for an in person Honolulu Multifamily and More

Meetup on Sunday May 23, 2021 at 5 - 8PM in Kaimuki.

🤝 For this meetup, we are going to be networking in small groups, so bring your business cards and connect with other investors!

📍Register here to find out the exact location:

http://bit.ly/HMM-5-23-21

We are limiting this event to 20 participants.

🍻 Bring a drink or snacks to share.

💥Join us for an exciting Honolulu Multifamily and More

Virtual Meetup on Saturday April 24, 2021 at 9AM HST/12PM PST/ 3PM EST

📋 Agenda:

🔵 Open networking

🔵 KPI's with Vince

🔵 Breakout Rooms 1

🔵 Plumbing Due Diligence with Steve

🔵 Breakout Rooms 2

🔵 Open Networking

Register in advance for this meeting:

http://bit.ly/HMM-apr21

After registering, you will receive a confirmation email containing information about joining the meeting.

@Sumner Rabin I think the STR play on Oahu is about the future recovery to pre-COVID tourism numbers. Currently, it's risky, given the uncertainty of when this will happen. But, with more risk, comes potential for opportunities. Let me know if you want me to send you a list of legal STR's.

@Chase Yokoyama I started with a live-in flip condo in Honolulu, which we'll be putting on the market by the end of the year. At the same time I partnered with another investor to buy a 3 unit. I think where you start depends on what resources you have and what opportunities are available. Let me know if I can help.