All Forum Posts by: Michael Borger

I did the opposite - I still invest primarily in Hawaii but moved to San Diego a few years ago.

Off-market single-level SFH in beautiful Kula. Home is in average condition - needs a new roof and cosmetic upgrades to make showroom now, if desired. The price listed is a residential asking price. If you're a flipper, we can still talk but I might do the deal on my own.

The owners are still in the property so I'm keeping the specific address out of the public eye - contact me personally. Aloha.

I have a fixer upper SFH in Kula under contract in escrow. Structurally good - just needs a new roof plus interior cosmetic reno. Inspection report already done. About 2000 sqft, lot over 14000 sqft. I'm open to offers if someone's liquid. Send me a private message.

Look up hirei.org - they meet at the Japanese Cultural Center once a month. You'll meet a variety of people interested in REI.

Welcome to the island scene, @Mike Demmitt . This'll be a big change from the Bay Area. It's not necessarily the most cash flow friendly market out there, but it's a great place for flips. I'm in multiple projects right now, so you're in a good place if appreciation or in-and-out deals are your thing.

Aloha, @Bryson Paulo . Welcome to the Hawaii investing scene. I had no experience when I started, either -- I was researching and teaching science at UH Manoa. 

Get the getting started guide here at BP and just start learning and doing along the way. Wholesale some deals; get some more liquidity; understand the local market; know what a deal is vs what's not a deal; go to local REIA meetings; learning creative finance strategies.

It's ok to start small as long as you start.

So the one thing I latched on was the advice from your financial advisor. What they probably don't realize is that you can 'invest' in RE without using your own capital. Wholesaling, private lenders, hard money lenders, creative finance strategies, etc. These are ideas that are likely beyond the average financial advisor, which is why it's important to get your own education (which you're doing here). Be careful from whom you take advice.

You're assuming that we "bid". Very few of my deals involve another potential buyer - I'm usually the only person they're speaking with. If you market well, you don't need to rely on the MLS where you're competing against the general public, investors and all.

Aloha, @Keith Cordeiro - Congrats on your decision to start at such a young age! It will pay off for you for the rest of your life. The islands, where I do most of my investing, are a great place for REI. Yes, the price point can seem like a big obstacle, but it is one that's easier to overcome than you may initially think. It also means your profit per deal is likely higher than what other people are getting in most mainland markets, so I view it as a good thing. My island flips are considerably more profitable on average than those of many of my colleagues elsewhere.

My first few deals were wholesale transactions that didn't require any money on my part aside from marketing to find the sellers. This allowed me to get some hands-on experience, build up my credibility (showed that I can find good deals) and my confidence which, in turn, benefitted me when it came to time to raise private money.

I know fund all my deals using a mix of hard money, private money and/or seller financing (seller carryback or sub-2).

By the way, prior to learning about REI, I was teaching science labs and working on my doctorate degree at UH (which I happily abandoned), so no REI experience at all. :)

Good luck!