Posted by M.Simmons on June 22, 2005 at 02:38:47:
Hi Michael.
I suggest you email me with these answers:
What state or country are you in right now?
Why do you want to invest in HI?
I might beable to work out a plan for you.
REI in HI - Posted by michael
Posted by michael on June 21, 2005 at 20:36:40:
i am 24 and just getting started. my question is about my home state of hawaii. Our home prices are already high (median $550,000+). how can somebody with limited cash (yet good credit, and VA loan) pick wise long term investments in such a expensive market. should i look to the mainland for a solid rental purchase. i would like something that i can hold onto for a while, and sell it in 10 years for a nice profit. i know the people in San Fran feel my pain.
Re: REI in HI - Posted by Natalie-VA
Posted by Natalie-VA on June 23, 2005 at 18:04:32:
Michael,
I believe that you must occupy the property if you are going to get a VA loan. If your credit is decent, you may be able to get 100% conventional financing on an investment property.
And, yes, it doesn’t look like you’ll be able to get anything to cashflow at those prices in HI, so you might need to look elsewhere.
–Natalie