All Forum Posts by: Loren Clive

ALWAYS buy title insurance! I work as an expert witness in bank foreclosures, and let me tell you, people DO challenge the foreclosures years after the fact. If you don't have insurance, you're screwed. 

I'd be curious as to your broker's reasoning on this.

Aloha, Bryan. I have personally purchased many vacation rental condos on Maui, as well as assisting Canadians in doing so. PM me and we can set up a time to chat. 

http://www.matsonkelleylaw.com...

on Maui
although you might want to pick someone on Oahu

Lawyers typically charge $200+ per hour

Aloha, Anna. I moved to Maui myself from Oakland back in 2005. I own eight properties here and am also a real estate broker. Here to help!

I used Redneck Bank about a year ago, the money market account. Not sure what rates are now

Here in Hawaii, there's a box you check on the lease that says month-to-month. I would ask any realtor friends you have to provide a standard lease and look at it. Should have this provision

Congrats on your escrow! Brave of you to jump in in this climate. 

I'd shop other lenders. You can do 20% down for condotels, with best rates at 25%. 

Also I would consider NOT using the on-site management. 55% fee is crazy! 25% is normal

USAA is great too

@Greg H @Mike Cumbie I just replaced carpet in a 900 SQ ft condo and it was over $2k. In Hawaii things just cost more.

It kills me that on a landlord-focused forum, people are siding with the tenant here. And nobody commenting actually lives in the state?

@Greg H.

the point is the property is not in the same condition due to the smell. I can send you a copy of the standard HAR lease for your review.

just curious, how many of you have actually been to court fighting stuff like this? I have and won. 

USAA or State farm. But if it's a vacation rental neither of these will insure