honobob
Thinks s/he gets paid by the post
- Joined
- May 8, 2006
- Messages
- 1,036
Here's the views from the new Honobob retirement abode. That's Diamond Head looking over my 500 acre backyard that some people refer to as Kapiolani Park. There's the front yard, the Pacific Ocean and the view from my front door towards the mountains. That's the top of the W Hotel on the right. It was developed with my building, The Colony Surf, and on the left is the New Ontani Hotel.
Fee Simple, high floor, covered parking, vacation rentals allowable, pet friendly (yea honodog and spare dog) and ready to convert from Coop to Condominium which will greatly enhance the value! Did I say it had its own beach? And the famous Michel's restaurant is on the first floor and the Outrigger Canoe Club and the Elks club are next door.
I bought this in July when I was looking for one more investment property before I retire and asked my Realtor if I could take a peek at a unit there as my plan was to eventually buy there but wanted to see if I'd actually like a unit there. A "deal" came up and I recorded yesterday! Thanks to PenFed for a no muss/no fuss 20 year fixed Heloc on my CA home and a new first on one of my Diamond Head rentals and I was able to pay cash. Not usually my route but since it's still a Coop the financing is way more dificult and the rates are much higher.
So why am I in young dreamers promoting $5,000 beachfront property? Oops I'm not! Oh well, Other Topics is cool. Further proof that you don't need too much branes to be successful in real estate! Because that's what I put down on my $86,000 CA home 22 years ago that I could sell for more than my mortgage balance and the cost of this property. Pretty sweet, yes? Was I lucky or got a great deal back in 1986? Nah. Pretty much anyone that bought then and there has the same results. Pretty much got the same results buying in the 70''s, 80's, 90's and twice in the 00's also so anyone could start today. Oh but you say I could have rented for cheaper and not had to deal with maintenance issues. Well, renting would have been cheaper for maybe the first five years but for at least the last eleven years the difference between renting and owning has been over $1,000 a month in favor of owning and the over $500,000 in appreciation is nothing to sneeze at. Maintenance? 1100 sf stucco ranch in a mild climate? Not too much.
Won't be moving in until after the first of the year so here's a website of an owner in a low floor unit that I watch to keep me dreaming.
thesurfpad.com
So Young Dreamers, don't let the naysayers dissuade you. Do the math!
Mai Tai's in February!
Fee Simple, high floor, covered parking, vacation rentals allowable, pet friendly (yea honodog and spare dog) and ready to convert from Coop to Condominium which will greatly enhance the value! Did I say it had its own beach? And the famous Michel's restaurant is on the first floor and the Outrigger Canoe Club and the Elks club are next door.
I bought this in July when I was looking for one more investment property before I retire and asked my Realtor if I could take a peek at a unit there as my plan was to eventually buy there but wanted to see if I'd actually like a unit there. A "deal" came up and I recorded yesterday! Thanks to PenFed for a no muss/no fuss 20 year fixed Heloc on my CA home and a new first on one of my Diamond Head rentals and I was able to pay cash. Not usually my route but since it's still a Coop the financing is way more dificult and the rates are much higher.
So why am I in young dreamers promoting $5,000 beachfront property? Oops I'm not! Oh well, Other Topics is cool. Further proof that you don't need too much branes to be successful in real estate! Because that's what I put down on my $86,000 CA home 22 years ago that I could sell for more than my mortgage balance and the cost of this property. Pretty sweet, yes? Was I lucky or got a great deal back in 1986? Nah. Pretty much anyone that bought then and there has the same results. Pretty much got the same results buying in the 70''s, 80's, 90's and twice in the 00's also so anyone could start today. Oh but you say I could have rented for cheaper and not had to deal with maintenance issues. Well, renting would have been cheaper for maybe the first five years but for at least the last eleven years the difference between renting and owning has been over $1,000 a month in favor of owning and the over $500,000 in appreciation is nothing to sneeze at. Maintenance? 1100 sf stucco ranch in a mild climate? Not too much.
Won't be moving in until after the first of the year so here's a website of an owner in a low floor unit that I watch to keep me dreaming.
thesurfpad.com
So Young Dreamers, don't let the naysayers dissuade you. Do the math!
Mai Tai's in February!