Many of my best clients are investors looking to buy homes or condos for both fix and flip and/or long term hold. Either way, the process and formula for doing them successfully has not changed much over the years. Buy low, keep your improvement costs under a tight budget and make sure your sold comparables support at least a 30% return on investment....with less than a 6 month hold time! If anything, the advent of non-judicial foreclosures in Hawaii has created a huge backlog of pre-foreclosures, (whereby you get a chance to negotiate with the seller who is still in charge of the property) So the market is ripe with many months, if not years of back logged inventory just sitting there ready to be found, bought,
Tips To Maximize Your Return on You New Hawaii Condo 5 Things You MUST Know Before Buying A Condo In Maui. If your realtor hasn't mentioned these important issues, you need to dig a little deeper. (Scroll Down for Video)
PS - I also have a YouTube channel with many informative videos about Hawaii, Maui and Real Estate. Check it Out Here https://www.youtube.com/user/hawaiirealestateorg
1) Ocean View - Must have (or at least partial ocean view)
2) Only Buy Fee Simple (the only exception is a leasehold in a majority fee simple complex)
3) Evaluate the Financials - Expect a 2-5% Return - Cash on Cash Invested (see notes below on how to compare different units apples to apples)
4) Purchase at Fair Market Value or Lower - look at all comparable
Why? Because in today's real estate market place....that is WHAT SELLS! If you are looking for the Best Maui Real Estate Agent? When it's time to sell your Maui Real Estate - Home or Condo you must find the best Maui listing agent (to do the job right the first time) My advice? Find someone qualified to make an amazing video of your property and really KNOWS how to market it on YouTube, Facebook, Instagram, Twitter and Google. This is simply WHERE people are today. Also...consider using someone who has the equipment and expertise to make that video. Why? So they can come to property during the best times to get the best shots. A hired photographer or videographer on Maui will only come for one appointment (maybe two if you pay more) and you'll get
Let me tell you a story about this guy from Maine. But first, please know that I CAN help you find Maui Real Estate Deals like this! Like this one for example, because this home has TWO guest cottages, you can rent the main home, rent one cottage, live in the other, and it will pay for itself. Or just rent out the entire property and bank! The mortgage payment with principal, interest, insurance and taxes is $5250. The income from renting the main house is $4,000-4,500 and the cottages will rent for $1400-1800 each. So if you did not live on the property, you would profit $2K minimum per month. Even if you lived in one of the cottages, the property would still pay for itself. There are many such Maui and Haiku Homes for Sale on Acreage and across
