All Forum Posts by: Greg Gaudet

It's usually every year in May. Maui just had ours this week. I'm sure Oahu is the same.

@Alex Jones

Mahalo Alex. Just check out your profile too. Very cool and inspiring. Hit me up if you’re ever on Maui!

@Dimitri Paspalaris

Gotta ask the lenders; but I usually get .6-1% higher than the advertised rates for investment properties with an 800 fico. Today I’d hope to get 4.9-5.3% with perfect credit. Add some interest for lower credit, vacation rental, jumbo loan, etc.

Call Darren Au at Primary lending on Oahu. He will answer all of your questions and provides unbeatable service. Tell him I referred you; that should help.

@Karl McGarvey

I stared with 40k just over a year ago. I bought a condo below market value that cash flowed strong. I thought the same as you, I just wanted to buy one, but I ended up buying 5 units in the first 12 months and still work full time. Read, listen to podcasts, analyze deals, find your niche find the deals and find the funding. Bank just approved me for a 76k line of credit. Now I could buy one unit every year just from the cash flow. I bought them all below market value. The whole point of BRRRR is to be able to scale without saving up the down payment each time.

@Alex Jones

To repay my mom for the sacrifices she made for me and allow her to and experience everything during her retirement. To choose to work and not have to work. To make my own schedule, have the freedom to take 3-4 vacations per year, surf the best waves, and spend summer on the east coast and winter here on Maui. To give back, provide for the less fortunate and veterans. And finally, since I’m a car guy - to be able to own sports cars comfortably.

And yes, this has been posted many times, I just posted it two weeks before you; but I think it’s something we should continue to post every few months, review and stay focused on so we know why we are choosing to work an extra 10, 20 or 40 hours/week.

Justin did you buy a condo at Hale Kai in Lahaina? How's it performing as a vacation rental? Is it making some nice monthly cash flow? 

Looks like you have some equity in it.. the tax assessed value is higher than what you paid less than a year ago; you must've gotten a good deal! Traditional MLS listing? Needed total rehab?

(Our tax assessed values run about 10-30% below market values)

Live where you live, invest where the numbers make sense. 

Sounds like you know Jax. I'd take a hard look at that market. You know the good streets and the bad streets. Plus Jax is considered a pretty hot market now, but still affordable for the average person to invest. I've considered it myself. 

But no one can answer this for you, need to figure out what is right for you. 

Just sent you an email

@Carmela Zaragoza

Standard due diligence; I would find a realtor in your target market that kills it. They should be able to answer most of your questions. Then find a vacation rental manager that kills it in that market to confirm the average nightly rates, average occupancy you can expect, etc.

When you’re ready to talk to a lender call Darren Au at Primary lending. I’ve used many lenders, but since I was referred to Darren I’ll never use anyone else. Trust me. And let him know I referred you, he works with many of the local investors here.

@Mike Neubauer

Nice. Which buildings are they in? MLS listings? How are you funding the down payments?