All Forum Posts by: Travis Bradburn

@Molly Kim

Did you ever find the site you were looking for?

Investment Info:

Single-family residence buy & hold investment in Haiku.

Purchase price: $545,000

Bought a place in 2015 with an attached ohana. We rent that out, its a great strategy, keeps our mortgage payment down. Our goal is to get another primary and leave this one as a full time rental when do.

Aloha Kristina, 

I'm a licensed GC here on Maui.  If you need any reno work, permits, or anything contractor related done let me know and we can connect.

Mahalo.

How many sqft is the new ADU? My company built a tiny home for a client of mine here on Maui. I'd love to get you some numbers on the build cost if your not locked in with your current contractor.

Also note that building permits pre-fire were taking close to a year to get here on Maui.  I've been working on several for clients and that seems to be about the time line to get them approved.  Hopefully the county will speed this process up becasue there's about to be a ton of permit applications going in.  

Mahalo. 

Aloha Chris, 

Welcome to Maui.  I run a construction company here on island.  I have a small project coming up that I could use help on.  Shoot me a DM with your number and I can call you tomorrow and see if it's something your interested in helping out on.  If not maybe we can team up on a larger project in the future.

Mahalo

Aloha Melanie,

I do the kind of work your talking about.  Please feel free to DM me if you'd like to talk about your project. This way I can get you a free estimate created based on what your looking for.  I am a licensed general contractor here on Maui and can help you facilitate your project from start to finish.  

Mahalo. 

Hi Josh, 

   When you get your first deal (and I know you will) if you need contractors I can give you contact info.  The company I started In Portland 10 years ago before I moved out here to Maui is still going.  Under a new name but the same guys I worked with are running it.  They're solid, licensed GC's, and talented.  If you or any else in Portland need a good General Contracting or remodeling company PM me and we can exchange info.  

Mahalo and good luck with your journey.

Get pre qualified so you know what you can borrow.  Marry Fabio is a great mortgage broker here on Maui look her up.  That 30k grant for downpayment is plenty if your going to live in the property as your primary residence.   I believe there are loans that start around 3.5% as the down payment.   Which puts you somewhere around the 750k purchase price range.   

Utilize that grant for the downpayment while leaving your personal saving in the stocks as a reserve fund.  

You can house hack to help build equity faster in your property since you won't be making a large downpayment through the 3.5% loan program.   

Best of Luck

Aloha Andrew, 

Being a builder my self I would shy away from deal number one.  Just seems like so much can go wrong with trying to put a house back together that was taken apart.  Things may have shifted a bit or warped in storage and then won't fit back as nicely as when originally built.  Especially if the people who dismantled it aren't the ones that will be putting it back together.  Seems a little dicey for a first deal.  Also your probably looking at some serious time in paper work at the county to get that project permitted.  Usually 3-6 months at least and some times longer for just the building permit and that's pre-covid time.  So if your gonna do that I'd plan for at least a year in total to get permits and build which could easily run another six months or more if things have issues on the building side of the deal.

On the second one sounds like Greg gave you some sound advice.  I would also just punch that second one into the BP calculators and see what happens.  My guess is that putting up around 600-700k for a rental at 1800-2500/month probably won't cash flow (maybe if you house hacked it), or have a chunk of money down up front to keep that mortgage payment from being larger than the rental income possibility.  Don't forget there is many more costs to keep a property as rental on top of the mortgage.  Cap Ex, Insurance, yard care, trash, small kine repairs and maintenance, property management.  All those little things add up also.  

Mahalo and best of luck to you.  

Aloha Sequoia, 

I am a licensed GC here on Maui.  

If you want to chat about this project please connect with me.

Mahalo.