All Forum Posts by: Lake Lutes

Aloha Jake! I sent you a PM. Hope to see you guys back on the island in the near future!

@Marvin Bertin Hey Marvin! I live on the Windward side of Oahu as well, and had the same criteria as you when I first arrived. Would love to help you out! Shooting you a PM. Shoots!

Aloha Justin! My wife and I got stationed on Oahu in April of 2019 so I could provide some insight into the mind of a RE investor who is in the military and stationed on Oahu. My goal when we arrived was also to buy. I offered on types of properties and in certain areas of the island before I was educated and knew the island. My first bit of advice would be to get here and use your TLA (temporary living allowance) while getting a feel for the island before making offers. 30 minutes of driving on this island will take you through 5 completely different towns with different feels, traffic, home evaluations, etc. Just because the island looks small on a map doesn't mean that every town here is the same, not even close. Know the island and where you and your wife are comfortable before you offer and get stuck somewhere. After unsuccessfully offering on properties the first go around, we've been renting for about 10 months now, and I am deep into the home search once again. I offered on a property last week and we're in the thick of negotiations. Complete house hacks may not always be possible, but heavy mortgage supplementation is definitely possible and worth shooting for, as tons of homes here have mother-in-law units (or Ohana units) on the property for great rental income. So, although you may not be able to cover all $3K of your mortgage, maybe your 1 bed/1 bath is bringing in $1200 and bringing your mortgage down to $1800K, super helpful! In addition, don't let the hefty prices intimidate you as we have a great advantage with 0% down, or close to 0% down, VA loans. Great opportunity for "free" appreciation!

All in all, do what's right for you and your wife, but choosing Oahu has put me out of my comfort zone in the best way and made me experience adventures, friendships, and culture I never would have on the mainland. Has it delayed my investing career? Unfortunately yes, but I know in 10 years when I have 15 properties I'm going to be talking about and thankful for my time here. It's also help me become more educated and savvy in OOS investing. Hope that helps - feel free to reach out if you have any questions I'd be happy to help!

Shoots -

It's always a good time to get into RE at the right price. Run your numbers, trust the math, and trust the comparable for the neighborhood. I don't think the governor announcing that we're in a "pandemic induced recession" is news to anyone, just puts a title on it. Could prices be down a bit this winter? Sure. But the right deal could also show itself now as competition is less fierce. Rootin for the best for you!

@Duc Ong I'm there - thanks for organizing sir!

@Michael Ohara I am also located on Oahu and have been deciding between different out of state markets. Would love to hear more about how you chose Ohio and what your property management company offers you to make you feel good about an investment so far. Shoots!

@Ronald Rohde my thoughts as well, and the thoughts of many others. Just backed out of escrow on a deal I was halfway through for this exact reason - still up in the air on if it was the right call. Thinking of trying to save maximum cash for when deals start showing themselves more regularly. Any thoughts on when you think the right time will roll around? Late 2020? Next year?

Right there with ya @Daniel Bautista - looking at the area myself for potential next investment. Would love to know how your experience went with the area. Thanks all!

@David Oldenburg Hello sir - I know that this is a very aged posting, but I am a Sacramento native born and raised and am in the heart of my search to purchase my first property in my home town - would absolutely love to connect and get your insight. I'm incredibly motived and would love to hear more about the investing group and charity work you may have moving forward. Thanks so much for your time, hope to speak soon.

Aloha! Have been on island since April 2019. Working on getting my Hawaii RE license now, should be done within the next couple of weeks. Have some cash on hand and looking to get into the island market as well... let's connect! Stay healthy and mahalo for your kokua