All Forum Posts by: Johnny Aloha

Welcome!

@Travis Washington  Saw in your profile you are looking for buy and hold in Indy.  I was at one time, also.  I'd recommend you do some very thorough research, and start by reading threads here.  Lots of turnkey threads, both good and bad.  The keyword alerts might even bring out some of the people onto this one.

@Michael Mazzella  Congrats!  You should be able to get some great views and trades from that lot.  I'd love to take you up on your offer, but I'm actually living overseas right now.  Best of luck!  

@Andrey Y.  You'll find the market in most areas of Oahu takes a lot of time, effort, and patience but you can find anything you want.  Cashflow, flips, etc.

I've tried to wholesale (and flip) but haven't been able to get anything in contract.  I've found that most sellers know the value of their house (or at least the land) pretty well, or have other reasons to hold onto it (like lots of family members living in the house).  I've mostly focused on Kailua and Kaneohe because I know the areas very well - if I were to do it over again, I'd expand out to other areas.

Best of luck!

I would suggest you attend the mobile home park bootcamp (through MHU) ASAP if you are serious about moving into this asset class.  Based on the information you provided, it sounds like you don't know if this is a great deal or a terrible deal (it could be either).  How many pads, what is the rent, how many POH, infrastructure, etc, etc...

@Nick Wiswell

Now that some time has passed, did you decide to invest locally or out of area?

Congrats, that is awesome!

Is the water/sewer billed back to tenants?  If not, expenses could be much higher.  40% expenses would be a good guess, but make sure you verify.  That assumes a 10% water/sewer usage.  I'm looking at a park that water/sewer cost is 25% of income!  

And be aware of the competition -- you may or may not be able to pass on costs, depending on your lot rent and that of the other parks nearby.

@Dan C.  @Ramon Jenkins

Could you send me the contact information also?  Thanks in advance!

@harrison gomes 

I think most areas of Oahu will have little to no vacancy ... except areas impacted by the potential drawdown of Schofield.

If the current bill passes and you can (legally) rent a property on a short term basis, Kailua could be an excellent place to invest.  Don't give up on your desire to find a property that will cash flow -- took me over 70 offers but I got one.