All Forum Posts by: Sam Sagor

Thanks for the feedback. I was really just looking for away to say this and make it clear to someone who has no idea about what a good investment is. Last time it was a sheep investment not the livestock but a gold-ish sheep statue covered in a few fragments mother of pearl and semi precious stones ... for 6k. There were 200 made from a mold it's not going to rank as masterpiece. There are three aunts dividing the estate 1 - is for selling 1 - undecided 1 - speaks investor and is against. I'm trying to give them a reason to agree before it gets political. If for selling sees she can't get a good price and a fast sale ... that might be all that it takes. Thank you for reminding me how it not as complicated as all that to have her take a look around all the houses that aren't selling.

For the record zoning in Hawaii (the island of) is still insane but it does allow for vacation rentals and regular tenants. I already checked for us no problems there. Though in this subdivision they make you pull a permit just to put up a temporary structure, say a storage shed. Zoning is very on edge about building additional houses.

@Tod thank you for the article helps to have it substantiated in words.

I have some convincing to do - family estate is up for being rented or being sold. I believe this is the wrong if not worst time to sell this and would advocate using the house as a buy and hold property or vacation rental. I need to find convincing arguments that I can use to back this(linking the best articles you may know would help). Or I could be utterly and completely wrong. I always entertain the possibility ...I would appreciate opinions on this.

If it helps to know the details, they are as follows ... property is a luxury Hawaiian estate. In Holualoa. Comparable homes lead me to believe it's worth 2- 3 million in this market. Whether it will sell is another good question. We had a 6 million offer on it 2 and 1/2 years ago. It's been off market for approximately 2 years. It's Gated, fancy marble flooring, it leaves guests breathless... I think vacation rental is it optimal use. Anything to say about rentals vs. vacation rentals?

Quick answer: rent it. Doing a shortsale is not a good option it's an emergency brake. $100 margin is not good but I would buy certain houses like that because they will rent for more down the line. Theoretically.

What you should do right now is educate yourself on being a landlord and get on craigslist. Look at what's renting pretend to be interested in renting so you can see what your competition does. Read things and take a step back to reflect on whether you parents can do the property managing. Do they actually fix their own property? That could be good but ask these questions and find the answers.

My advice on the tenant thing is don't stress about it get somebody in who you think has adequate income. It could help to research tenant screening. Arrange to stay with your parents for a month or so. Watch what they do. Just check in at the end of 2 months and if they are proving to be rational human beings that pay then make the plans to follow through with your dream.

There is a simple answer that won't do as much as you are hoping: craigslist properties wanted. The other answer is there is no easy way you find them. Go to your local Real estate investing clubs / meetups / REI events. Also you can find buyers by marketing or just finding people who want to buy by putting yourself where they will be.

Investing for yourself is a more direct route but you still need to do due diligence. Know the area, know other areas know why you would recommend something as an investment based on cashflow or equity. Then actually do it. I suggest you read through this site a bit more before pulling the trigger. Good luck

There are ways to make $400. If you want to do it go for it of course I think just reading BP is a far better education if you want both make it happen for yourself because nobody else will.

1 - post on craigslist that you will yardwork / grocery go fer for $15 an hour. Work hard and 400 will add up (impressed people give tips)

2 - Offer to do grueling jobs for family - scrubbing grout things they just can't get around to. There's always maintenance or some task the will pay to get out of.

3 - find somebody in realestate you want to work for offer to do the legwork for ungodly amount of hours set the price at $400. This also means learning from them.

Pick 3 if you want work and connections. @ Vermillion I use open course from Yale and Standford ... but this course from MIT was a surprise. I don't believe I missed that thank you!

That is true. Condo renters are not better people. They don't care about you're property anymore. The bad area units may come up in the world. I'd vote against condo and for a tangible return (cashflow)

I see what you mean. That is a continuing trend ... it may not be as all bad as all that. I for one appreciate different outlooks from place to place. However, we have a choice and I think it's worth the effort to use honey rather than vinegar. What's the cost of a smile or listening once in a while? Radiating a sense of actually caring what the other person says is the most overlooked tool at out disposal. It's amazing what a few nice words can do ...

What seems like common niceties can be a double edged sword. It makes it seem like your talking down to someone. "People" could think your trying to one up them with politeness. But I don't talk to "people" it's the individual complete with unique background, social standing and personality you are talking with. This is just a matter of who you're talking to - best way is to let them talk and see if they go in for formality if that checks out yes I use "sir". If not I just act amiable / speak in plain speech which generally works.

I think that I have not communicated as clearly as I would have liked and apologize that I did not really know how to phrase this. This is not the norm in Hawaii it's next to a historical preservation and sacred ruins so it's really strict on what you can and cannot do. In retrospect I have found that bank of Hawaii will lend on this up to a certain LTV which should work fine. I was trying to use a property we own 300k + to take a loan to do a seller carry on a 400k leasehold. The banks apparently don't work with leaseholds and FHA so that's why I was looking at seller carry. Unfortunately it's probably taken so at least I learned how to borrow against the property. Thank you for answering me.

I'm from Hawaii too and in the same boat so I need to make a similar decision. I think you're on a good track. Maybe make a pro con list and see which side you really connect with. Talked to anyone in the local investing clubs over there? Know anyone from the area? Checked craigslist Tokyo to see if you can find anyone who has lived out there? Personally I would just gather all the information do a pro con chart and favor what feels right.