All Forum Posts by: Patrick Franta

Mike,

What software do you use?  As far as I know Air Bnb does not have an outgoing API.  My wife's company uses escapia and they have a third party integration tool so they can manage all calendars from their software.  

Jared,

Congrats on the purchase!  The 2 main players on Kauai are Coldwell Bali Hai on the north shore and Hawaii life vacations.  Our company will likely be in the market soon as well, and we offer great service at 25%.  

If you are going to start out self managing you should absolutely be on Air Bnb and VRBO.  There is no reason to miss out on a large volume of booking by  only going with one.  The only issue is that Air Bnb will not sync their calendar with anyone else so you will have to manually update their calendar with the VRBO bookings so you don't double book.    

When you decide on a management company you will benefit from their listing syndication.  Just like the MLS they are able to syndicate to most of the travel sites like booking.com, tripadvoisor, expedia, etc.  This will improve your occupancy rates and your top line revenue.

I am more than happy to provide additional info if you'd like.  Just shoot me a message.  Mahalo!         

@Ethan Anderson everyone is welcome!  

Most likely. The bank will be bidding as well, and given the amount of debt on it they will be willing to go pretty high to get it back and sell as a REO.

Aloha Abner,

The market value on this is in the $375 - 425 range.  The lien holders are going to have to take a big hit on this one. 

Dave with Pro Interiors does a good job.  I have had clients that were very happy with his work.  

Wow @Mike V. those returns are some of the best I have heard of in the state. And your talking straight CoC not IRR? I would love to know where and when you bought them, your avg. nightly and occupancy rates. I know Kauai offers more inventory at lower price points but the occupancy rates tend to be lower than on Maui. We are hitting 90% + in some segments of Kihei.

Aloha Nancy!  I can definitely help you in your search.  To answer your question, yes there are positive cashflow opportunities in Kihei, you just haver to make sure you buy right.  If you are paying all cash you can absolutely make good returns.  I have clients making over 12% on their vacation rentals.  They do manage the properties themselves from California but it is possible.  

As for property management, the going rate in our market is 25% of gross rental income.  My wife actually runs a VR management company here in Kihei.  

If you would like to discuss the details of how these properties operate I am happy to chat anytime.  Just shoot me a DM.  Mahalo.        

I had a great time meeting everyone and talking story!  Looking forward to the next one.

Welcome Paulina!  Aloha from Maui!