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All Forum Posts by: Micah Casey

Micah Casey has started 11 posts and replied 25 times.

Real Estate Events & Meetups

Post: Cash Flow Realestate Meetup in Laie Oahu

Micah Casey
Posted
  • Investor
  • Hauula Hawaii
  • Posts 25
  • Votes 6
1 Vote
Kānèohe, Hawaii
Short-Term & Vacation Rental Discussions

Post: Are Mobile Container Home Vacation Rentals Legal on Oahu?

Micah Casey
Posted
  • Investor
  • Hauula Hawaii
  • Posts 25
  • Votes 6
Quote from @Eduardo Bilbao:

Hi Micah, 

Here are two articles that I found useful after reading your forum post. 

https://www.hawaiiliving.com/b...

https://hnldoc.ehawaii.gov/hnl...

I did not have the time to go through Bill 41 since I am at work but you might be able to find the answer there. I will try to look into it next week when I am on vacations in Mexico. I recently moved to Oahu and have been looking at investing here. Let me know if you would like to connect or if you know about any meet ups. 

 Hey Eduardo!

Thanks for the two articles. It was very informative and gives and outlines which specific apartments and units are going to be legal STR moving forward. Doesn't mention anything about mobile container homes. I'm gonna continue to do my research. It was nice meeting up with you at our last meet up in Laie. Lets stay in touch.
Mahalo!

Micah


0 Votes
Honolulu, Hawaii
Short-Term & Vacation Rental Discussions

Post: Are Mobile Container Home Vacation Rentals Legal on Oahu?

Micah Casey
Posted
  • Investor
  • Hauula Hawaii
  • Posts 25
  • Votes 6
Quote from @Bryan Vukelich:

@Micah Casey, I will try to get you a correct answer today from the Department of Planning (DPP) but based on what I know, I am quite sure it would be illegal to do any short term rentals with any property that is not within a resort area and which is approved for short term rentals.

If you'd like to try calling the DPP yourself, number is 808 768-8000.  

Just curious if you want to share, what buildings you currently have vacation rentals in?  

Follow up with you once I have more info.  


 Aloha Bryan, 

Thanks for the number. I called a few times but could not get through to anyone. I will let you guys know once I get a hold of them. 


Mahalo! MIcah

0 Votes
Honolulu, Hawaii
Short-Term & Vacation Rental Discussions

Post: Are Mobile Container Home Vacation Rentals Legal on Oahu?

Micah Casey
Posted
  • Investor
  • Hauula Hawaii
  • Posts 25
  • Votes 6
Quote from @Adelle Swan:
Quote from @Eduardo Bilbao:

Hi Micah, 

Here are two articles that I found useful after reading your forum post. 

https://www.hawaiiliving.com/b...

https://hnldoc.ehawaii.gov/hnl...

I did not have the time to go through Bill 41 since I am at work but you might be able to find the answer there. I will try to look into it next week when I am on vacations in Mexico. I recently moved to Oahu and have been looking at investing here. Let me know if you would like to connect or if you know about any meet ups. 

 Hi Guys, 

Please keep me posted on these developments also , if you don't mind. As we are looking to move to Maui or Oahu at some point next year or thereafter too. Will be nice to know the ins and outs and learn together with likeminded BP folk. ;) 

Best Adelle 


 Aloha Adelle, 

The weather is beautiful over here. You won't regret the move. Let me know if you have any questions. 

0 Votes
Honolulu, Hawaii
Short-Term & Vacation Rental Discussions

Post: Are Mobile Container Home Vacation Rentals Legal on Oahu?

Micah Casey
Posted
  • Investor
  • Hauula Hawaii
  • Posts 25
  • Votes 6

Hey Eduardo!

Thanks for the two articles. It was very informative and gives and outlines which specific apartments and units are going to be legal STR moving forward. Doesn't mention anything about mobile container homes. I'm gonna continue to do my research. It was nice meeting up with you at our last meet up in Laie. Lets stay in touch.
Mahalo!

Micah

0 Votes
Honolulu, Hawaii
Short-Term & Vacation Rental Discussions

Post: Are Mobile Container Home Vacation Rentals Legal on Oahu?

Micah Casey
Posted
  • Investor
  • Hauula Hawaii
  • Posts 25
  • Votes 6

Aloha!

I own a few vacation rentals in Oahu and know that the city is trying hard to shut them down and recently passed bill41. I recently purchased a 20x20 expandable container home and plan to rent it out either short or long term completely off the grid. I am under the impression that if it is still sitting on a trailer or has the appearance of being mobile that it would not fall under department of planning and permitting therefore is exempt from this bill which would allow me to vacation rental it out. If anyone has any insight I would greatly appreciate it. 

Mahalo!

Micah Casey

0 Votes
Honolulu, Hawaii
Real Estate Events & Meetups

Post: The Cash-Flow Breakfast Club for Oahu Bigger Pockets investors

Micah Casey
Posted
  • Investor
  • Hauula Hawaii
  • Posts 25
  • Votes 6

We are looking forward to it. 

1 Vote
Honolulu, Hawaii
Real Estate Events & Meetups

Post: The Cash-Flow Breakfast Club in Laie

Micah Casey
Posted
  • Investor
  • Hauula Hawaii
  • Posts 25
  • Votes 6

We are looking to create a community of likeminded investors on the North Shore of Oahu. Come join us and learn from @omnitheinvetorguy who was featured on Biggerpockets episode 547

Click link below to register. Hope to see you there. 

https://app.bombbomb.com/app/f...

0 Votes
Kānèohe, Hawaii
Creative Real Estate Financing

Post: Cross Collateral Loan

Micah Casey
Posted
  • Investor
  • Hauula Hawaii
  • Posts 25
  • Votes 6
Quote from @Chris Seveney:
Quote from @Micah Casey:

Has anyone done a cross collateral loan before? There is land that I am trying to purchase and build a house on. From what I'm hearing from a couple lenders is that I will need 25% down for the land purchase which of $600K and another 25% down for construction cost of about another $600K. So all in I would be at $1.2 mil land and construction. I only have enough for 25% down on the land ($150K). I was just informed that I could cross collateralize my current residence which I have equity of about $400K so I would not need to come up with the 25% down for the construction. Does this mean that my current home and new build home would be connected in a way that would not be able to sell one with out the other down the line? Any advice on this would be great. 


 If this is a primary residence then more difficult. Why not take a line of credit on your existing home. As it appears you only need $300k 


 Yes I guess that would work too. Thank you!

0 Votes
Creative Real Estate Financing

Post: Cross Collateral Loan

Micah Casey
Posted
  • Investor
  • Hauula Hawaii
  • Posts 25
  • Votes 6
Quote from @Chris Seveney:
Quote from @Micah Casey:

Has anyone done a cross collateral loan before? There is land that I am trying to purchase and build a house on. From what I'm hearing from a couple lenders is that I will need 25% down for the land purchase which of $600K and another 25% down for construction cost of about another $600K. So all in I would be at $1.2 mil land and construction. I only have enough for 25% down on the land ($150K). I was just informed that I could cross collateralize my current residence which I have equity of about $400K so I would not need to come up with the 25% down for the construction. Does this mean that my current home and new build home would be connected in a way that would not be able to sell one with out the other down the line? Any advice on this would be great. 


 If this is a primary residence then more difficult. Why not take a line of credit on your existing home. As it appears you only need $300k 


 I actually do have a helco on my primary for $100K that I have already maxed out on another investment that I took out a few years ago. Now that my home value almost doubled since then I might just consider doing that to pull out  the remaining equity of about $400. Thank you for helping me think through this. 

0 Votes