All Forum Posts by: Kory Muraoka

Hey Branden, 

I want to start by saying I don't have any properties on Big Island, nor did  I ever live there. However, I'm born and raised on Oahu and have been to Big Island many times throughout my life. From what I've seen, properties in Hawaii are all about location as the states economy is run on tourism. If the property is in/or near a tourist area, the potential for a rental could be great. With that, Hawaii has become very strict/restricted on allowing Air BnB, VRBO, or other short-term rentals. A lot of short-term rentals are restricted or not allowed but it does differ by island. 

For Big Island, I would first check on short-term rental guidelines for that island to see if its even allowed. Then again, it would depend on what your goals are for the investment property. Long-term rentals for Big Island residents would be fine but I'm not sure how the demand is for that. 

Second, Big Island is very large and spread out with a lot of one-lane roads. So even though the distance may be short on paper, it could be a 30 min. - 1 hour drive to another part of the island.

If you're from Big Island though, you can take my suggestions with a grain of salt as you probably know more than me but hopefully this helps a little. 

Thank you everyone for the responses and solid information. 

@Joe 

@Joe S.The deal is lined up, but haven't started the negotiating of terms yet. Wanted to do due diligence and research how to set up the contract and what are common terms when dealing with seller financing before I started any negotiations. Looks like I'll start looking for a Title Company. 

Hello everyone, 

I've been doing research and reading books and the forums on information regarding purchasing a property via seller financing. I currently have a duplex lined up to purchase with seller financing. I'm looking for any information regarding what steps I need to take next in negotiating terms of loan as well as legal guidance such as hiring an attorney to draft the terms of the loan. 

I already own a few properties which I've purchased via cash and traditional financing using the BRRRR strategy. However, this will be my first time purchasing a property via seller financing.

Any information and advice would be greatly appreciated. 

Thank you for all the response. Seller financing is the first thing we have been looking into and definitely will be looking into the smaller local banks. 

Anyone have experience in investing in mobile home parks and knows of good areas where the numbers make sense? Price range for us currently will be under $500k but will eventually be looking to grow into larger properties and projects. 

Thank you for all the responses, and credit unions and local banks are exactly who we are reaching out to right now. We have also reached out to throw out idea of seller financing. I know we have other options, but looking at the private money route as a last resort. 

My partner and I are looking to purchase a small Mobile Home Park in the Little Rock area. We found a few options that cost in the range of $300,000 or less This will be our first venture into Mobile Home Parks and are wondering what is our best options for financing. Most places we've contacted only fund larger parks with a minimum of $500,000-1 million. 

Any potential suggestions or recommendations would be greatly appreciated. 

@Hadar Orkibi I own one property in Little Rock, and closing on a second one shortly.

Thats good info to know, thanks Hadar. I realize there are so many variables to consider when rehabbing that makes it almost impossible to give an estimation. The ball park numbers you gave me is what I was curious on since I'm not from the area and new to rehabbing homes out of state. 

Thanks guys for the recommendation, I will be reaching out to them. 

Also any rough estimates on average prices for rehab costs per bedroom, bathroom, and also adding bedrooms or bathrooms in the Little Rock market? I know these numbers are very subjective but looking for any rough, average numbers you guys commonly notice for a basic rehab for a rental property. 

I am an out of state real estate investor looking to build a team in the Little Rock area. I am new to real estate investing and have one home currently in the area. Currently closing on my second property and am looking for a property manager and contractors to help with this property and many more to come. Any information, referrals, or advice would be greatly appreciated.