So let me get this straight…. You put $80,000 downpayment and then your monthly cost is $3100. The potential rental income is $2400 (if you get lucky most long term units renting for $1400/month in town) so Only gonna cost you $700 per month to let someone else live in your property (that’s after you already put $80,000 down payment). Then 700x12 = $8400/yr x5 years = $42,0000 loss after 5 years. Makes perfect sense. Thank you very helpful. But I guess if the value goes up by $50,000 and you sell it without paying any fees and BS you would potentially make $8000! Not bad after 5 years. So basically $80k investment returned $8k total after 5 years that’s a whopping 2% per year return. At that rate only gonna take 125 years to become a millionaire. That’s is if you don’t factor in the 4% inflation right now. Only super rich people that don’t care about return can throw money at Hawai’i. Send price to crazy numbers because super rich don’t care what it cost just want to own Hawai’i. Impossible for small local investors.
I am a licensed Lawyer in Hawaii, but living on the French Riviera now. Don't forget about the fees to buy and sell. Make it cheaper for yourself and easier too. Just pass the Realtor's exam and you too can save yourself the commissions for buying and selling.
No one has a crystal ball and we can all make our assumptions...we have seen a slwo down but market is already up from the bottom in feburary matching similar prices to the peak of last year. When and why do you think tehre will be a crash in q4 of 2024?
You can rent condos out pretty much anywhere...only a few new developments you must be an owner occupant for the first year (HOOPILI for example) other than that you can rent it out just depends on how long the lease is allowed to be (30 days, 60 days, 90 days, 180 days+)
Please feel free to connect with me at anytime you guys can connect with me across all the platforms or email me at patrick@patricklongley.com
Hi Chewy 🐾
So let me get this straight…. You put $80,000 downpayment and then your monthly cost is $3100. The potential rental income is $2400 (if you get lucky most long term units renting for $1400/month in town) so Only gonna cost you $700 per month to let someone else live in your property (that’s after you already put $80,000 down payment). Then 700x12 = $8400/yr x5 years = $42,0000 loss after 5 years. Makes perfect sense. Thank you very helpful. But I guess if the value goes up by $50,000 and you sell it without paying any fees and BS you would potentially make $8000! Not bad after 5 years. So basically $80k investment returned $8k total after 5 years that’s a whopping 2% per year return. At that rate only gonna take 125 years to become a millionaire. That’s is if you don’t factor in the 4% inflation right now. Only super rich people that don’t care about return can throw money at Hawai’i. Send price to crazy numbers because super rich don’t care what it cost just want to own Hawai’i. Impossible for small local investors.
I am a licensed Lawyer in Hawaii, but living on the French Riviera now. Don't forget about the fees to buy and sell. Make it cheaper for yourself and easier too. Just pass the Realtor's exam and you too can save yourself the commissions for buying and selling.
thanks for the great content, im hoping to buy in the next 12 motnhs…i know who to contact :)
How do we filter for units that allow for mid-term rentals?
No easy way to do it other then check
No discussion of a housing market crash coming by Q4 and lasting through 2025.
No one has a crystal ball and we can all make our assumptions...we have seen a slwo down but market is already up from the bottom in feburary matching similar prices to the peak of last year. When and why do you think tehre will be a crash in q4 of 2024?
Are there only certain parts of Oahu that you can rent condos out?
You can rent condos out pretty much anywhere...only a few new developments you must be an owner occupant for the first year (HOOPILI for example) other than that you can rent it out just depends on how long the lease is allowed to be (30 days, 60 days, 90 days, 180 days+)
Where this mid-term rentals advertise?
fursnihedfinder.com as well as airbnb