Buying a studio condo in Hawaii?
Viridistori asked:
I’m thinking of buying a studio condo in Hawaii for around 150,000 dollars.
I just need help knowing if this is a good investment as a first-time investor.
Is Hawaii a nice and worthy place to invest in real estate in general? Will it be rented by tenants all the time? Thanks.
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on Sunday, November 23rd, 2008 at 1:03 pm and is filed under Maui Real Estate.
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I’m thinking of buying a studio condo in Hawaii for around 150,000 dollars.
I just need help knowing if this is a good investment as a first-time investor.
Is Hawaii a nice and worthy place to invest in real estate in general? Will it be rented by tenants all the time? Thanks.
November 25th, 2008 at 7:34 am
Er..maybe you should turn on the News..lol..seems there’s a wee storm going on.
November 28th, 2008 at 7:01 pm
Long distance rental properties are a surefire loser. You are asking for troubles to come your way. The rule of thumb is that a rental property should be no more than a 30 minute drive from your residence. You should also be the manager since nobody you can hire will look after your property like you will. It is a business loaded with headaches and I would not recommend it to anybody.
November 28th, 2008 at 8:37 pm
Location Location Location
Like any other property you want to invest in location is key. If this is your first outing into investment property I hope you plan to see the property yourself which will enable you to see the market and how likely you will be able to rent it out most of the time. in addition you have to crunch the numbers such that you know how much money you will have coming in after you pay the property management company their cut. Please don’t confuse your monthly maintenance fee to the condo association with the money you have to pay the property management company to keep it in good shape and rented. Historically Hawaii has been a great place to invest, but not everything is a sure thing.