All Forum Posts by: Randy Gaona

A lender can't discriminate against your mother due to her age, it's under the Equal Credit Opportunity Act.  Does your mother still work, or on a fixed income?  If she's on a fixed income that's the only thing I can see hurting her.  Maybe someone else can chime in on this, but the interest rate she could receive if you co-signed could possibly be higher depending on your credit score.  Again not 100%, but that's what i believe so hopefully someone on here could help out more on that.

@David Faulkner

The housing market is going up still, and pretty fast compared to other parts of the country IMO.  However, the rentals in the area are dipping and I think most of the island is that way.  If i didn't have my first baby on the way i would hold onto the house and keep renting it.  It's made me a decent profit for 5 years so going to take it and run.

@Mary White 

So in the past 48hrs i already have a couple that are willing to buy my condo at my full asking and i haven't actually put it on the market.  I just mentioned how much i was going to put it up for and turned out it was what they were looking for.  They took a look at the house and we are beginning the process at this time.  This will be my first time actually selling a property so hopefully it all goes well.  I appreciate the offer on the Realtor but I am currently working with someone now.

Hopefully if everything goes well, by late summer or fall next year i can take my money and invest in my next rental.  Until then i'll keep saving up till something catches my eye.

@Dj Larsen

My family came out to hawaii and stay at place in waimanalo with about the same size and paid $240 a night.  I would check out airbnb and see what your competition has their prices set to.  That will give you an idea, but waimanalo is beautiful and people want to be by the beach when visiting hawaii.  

@Lane Kawaoka

I agree, I bought my first house with no real intention on getting into real estate. I figured I'd live there forever, but here i am. I currently have a renter in the house, they're on a month to month lease currently because he's about to be separated from the military. Once I can find what the comps are in the neighborhood I can get a better idea of the price i want. I don't have access to MLS but i did not see on other websites 2/2 houses in my neighborhood selling recently.

@Andrew Olmstead

my property manager is Neal Fineman and Associates. Hawaii Real Estate Broker RB-20229.  I can pm you more information if you like.

First I would like to thank all of your inputs. I've been lucky enough to be in hawaii for almost 10 years now and add another 3 years as i just got orders again to stay. My wife and I just bought another house in 2015 in the Kahiwelo development in kapolei and we used her VA loan to pay for that one, and i paid for fees etc out of pocket so it wasn't in the loan. That house cost 719K 30 year fixed rate at 3.6%. So we've both used our VA loan each and don't want to use it again as the percentage goes up for the VA funding fee unless of course you can put more money down to lower it. One of the main reasons I was looking at selling is i noticed that a lot of houses for rent in the neighborhood were around 2300 a month and I charge 2650 a month(I allow pets). With my wife and I having a baby on the way I don't want to have to pay out of pocket. I would like to avoid paying for capital gains tax also if i can. I do not plan on moving back into that house as we now live in a single family home. I do however want to continue to live in Hawaii as long as I can as I been here a total of 10 years. I would eventually like try to be an investor but I have a long ways to go. So for now I figure my money would go a lot further investing in a house in Texas, rather than Hawaii.

Thanks for your reply, i was leaning towards that direction but wanted to make sure there wasn't an alternative.  Values in Hawaii go up but i don't think 15% is realistic for my house.  So when you put it that way, I most definitely want to sell and try to re-invest money made in a market not soo pricey as Oahu.

First time Posting

So I originally bought my first house for $409,000 using my VA loan on Oahu. Took out a 30yr fixed 3.25% rate and have lived in the house 3 out of the last 5 years. I stayed in the house for 3 years and my wife and I decided to move out and rent it out. The house has been rented out since July 2015 but my rent is $2650 - HOA($408) - Property manager(10%) etc. Would like some advice on if If i should continue to rent this property out or put it on the market for sale? I continue to pay out of pocket a little each month for this property. My ultimate goal is cash flow which i'm not currently getting. It also doesn't even come close to the 1% rule i've read about and would be forever in a day before I get to that point it feels like. I know the housing market in Hawaii is good right now and a lot of houses are going for over asking price but I believe with the money I could get out of selling the property i could buy a nice house in Texas where i'm originally from. I would like to hear your thoughts good or bad, Thank you. Property address is 91-1155 Kakala st. #208 Kapolei hi. 96707.