All Forum Posts by: Sean Sarmiento

Thank you Matthew and Peter for your insights.

Current scenario:  One of my family members has a health issue and we would like to purchase a residence closer to the rest of us.  That family member currently owns a home with a market value of ~$400k that is full paid for.  Half the family would like to sell that home and use that money towards a downpayment on the new place.  The other half would like to some how keep the existing property, convert it into a rental perhaps, and utilize the equity on that home for the downpayment.

Question: I was wondering if any of you would mind sharing your thoughts on how you might handle this situation?  Would you sell or are there some strategies we may be able to utilize for better results?  

@Jimmy Woodard Thanks for the boost of confidence.  I'm looking more into what would be required for self-managing.  My only "time" concern is having to be available to my customers 24/7 or not being able to conduct business during, what I'd assume are, the most needed times (time between checking out and checking in) when things are most likely to go wrong.  Other than that I guess my next biggest concern is trying to find a company that would be able to clean and turn over the unit between customers.  
I'll keep researching.  I'll definitely take you up on your offer if I hit some roadblocks.

Thanks for the info Bryan.  I looked over their web site and they look promising.  However, I get the impression they serve strictly the Waikiki area from their web site.  I haven't dug too deep into it yet and I'll have to talk to them to get more info.  For now I'm still trying to figure out if Oahu will actually be a good investment.  Especially with those new regulations being talked about.  Everything about them sounds super fishy to me.  With all the other questionable actions going on right now you would think our gov officials would be very cautious when it comes to questionable "conflicts of interests."  Sorry to get political but we shall see what happens. 

Hello all,

New here. I've started to look into STRs here on Oahu. I'm have a little bit of an issue finding info on local STR management companies. So I thought I'd ask a few questions here and see what I get. Any recommendations on locally owned companies (my preference is to start local and then move to "remote")? What is the average rate for their services?

And just to preemptively respond to the inevitable response, "just manage it yourself."  I currently work full time during the day, which my projected revenue will not be able replace income wise, and this being my first rodeo I don't see that as an option at the moment.  Perhaps as I get more familiar and comfortable with the business I can take off the training wheels but for now I'm willing to spend a little extra to get me started.