All Forum Posts by: Matt Guptill

Aloha @Joel Bongco thanks for reaching out and glad you had a great time in Austin! I like your proposed option as that could be the ticket given my difficulty finding existing structures that fit the VA requirements and price range. I sent you a DM, looking forward to making the connection, Mahalo!

@Laura Myers Aloha Laura, thanks for reaching out.

I should clarify we do intend to live in the property as our primary residence. The VA allows the loan as long as it's 1-4 unit residential and you intend to occupy one of the units as a primary residence. There are many nuances depending on the property however. In many cases you can also use 75% of the rental income to qualify for the loan if the property has 1 year lease tenants in place (dependent on the lender).

I spoke with several VA lenders over the past year and work with one who knows the process very well. I was almost under contract on a complex VA deal here in Austin until the buyer changed there mind about selling. I've researched a ton about the specifics of the VA loan and creative options so happy to help if you have any questions about them! That being said I have not reached out to a local lender in Maui yet.

TLDR: Goal is to buy a financially sound property (multifamily, long term appreciation, value add ideally) for 2-4 million with a zero down VA loan in Hawaii.

Hey everyone, I've been a long time listener/reader, this is my first post seeking advice on a fairly unique strategy I've been trying to execute over the past year. With the VA recently removing the $ cap I have been researching strategies to maximize the VA loan and capture as much real estate as possible with zero money down (I'm also exempt from the funding fee).

About a year ago my wife and I significantly increased our income allowing us to work remote and take out a VA loan for just over 2 million where we live in Austin or about 3 million in Hawaii (or more depending on rental income). Like so many others we absolutely love Hawaii and would like to purchase a property on Maui or Oahu to hold long term. We could buy in either HI or TX market however we're considering the Hawaii market for this purchase as we plan to live there (now/possibly retire there in the distant future) and could capture more real estate with this loan vs the Austin market.

Goal: with this in the end is almost entirely for a long term hold appreciation play so although cashflow would be nice it's not a requirement as we have about a million in liquid assets to weather unforeseen financial storms (or buy other properties).  We also do not care at all what type of property we live in and can get by with a 1br if it meant a better purchase financially.

Background: I'm relatively well versed in finance, analyzing deals, ect.. however am still a novice on actually executing on deals.  The Austin market has been tricky to find a 2-4 unit property around the 2 million mark so I've been exploring several: value add, high value land (with a house on it), multiple unit, and other creative ways to maximize this but to little avail over the past year.  

My question: Things get complicated in the fact that I notice few 2-4 unit properties (in Maui at least) however if you were going to buy with the above goal in mind, what type of: strategy, property, market, whatever, would you recommend?

Although I've been researching the Hawaii market and spoken with a few folks over the past few weeks more heavily, I'm relatively unfamiliar with it vs say the Austin market so I appreciate any insight and thank you in advance!