Check out these Hawaii travel tips and see if you get excited like we did.Are you a little adventurous? Do you enjoy a bargain when it comes to travel?This is how we travel and it has always worked out great for us. Try it at your own risk, but if you love travel bargains, you’ll love the way this works.We like to travel in the off season and see Hawaii when it isn’t so crowded. Off season travel has its benefits and drawbacks.The weather isn’t always the most ideal, yet, it can be every bit as good as the peak season.We’ve gone in peak season and had crummy weather and we’ve traveled in the off season and had great weather, it’s always a crap shoot any way so we take the chance.Normally, we get awesome air travel rates in the off season to start of the trip.We usually only book the first night or maybe the second and then we hit the streets and the hotel lobbies searching for the booklets, newspapers and coupon guide books.Last time we did this, it was in January, right after the new year and everything was dead.Hawaii was like a ghost town and we were able to find some of the most incredible deals you could imagine.We got a flight to Oahu, with a three night stay in a luxury hotel complete with a rental car for just a little more than the normal price of the inter-island flight.Another time, while on the island of Maui, we called a hotel on Oahu and asked for the price of a suite we had stayed in on a previous trip.For the price of a normal room, we got a 2 bedroom penthouse suite overlooking Waikiki Beach and facing Diamond Head. This was a corner room with four 10 foot sliding glass doors so it was like having glass walls and you could see everything. It had every amenity and our kids almost went nuts using Jacuzzi tubs, making meals in the kitchen and sitting on the two verandas overlooking the beach. There was a special elevator that only went from the lobby level to the tenth floor.These are just some of the Hawaii travel tips that we’ve accumulated. We think you might like traveling by the seat of your pants as much as we do. It gives us braging rights with the relatives also.Next time you visit Hawaii, throw caution to the wind and give it a try. I’ll bet it will be the most exciting and value packed vacation you’ve ever experienced.
Monthly Archives: July 2020
How to Avoid Overpaying When Buying Rental Properties
It’s a real shame, but far too many individuals wind up overpaying when buying rental properties. They get blinded by what they assume will be a great investment, however something comes up that makes it turn out to be a terrible investment.Part of what can blind you is the thought that the value will constantly grow over time. This is normally true, but you need to be sure that not only will you be in a position to make money when you sell it in the long-term, but that you can also make money from the rental in the short-term. Otherwise, you will no doubt enter the ranks of many landlords who overpay when buying rental properties and aren’t able to make ends meet!You can’t have those same feelings about this purchase which you had when you purchased your own home. You can’t let your emotions enter into it. You will only crunch the numbers to see if you’ll be generating a profit each month, when you take into account all of your expenses and income.Not every unit is going to be a certainty, and in some cases the most experienced finish up with some duds. On the other hand, there are certain calculations that can be done to determine if it will be the right investment for you.For example, some landlords choose not to pay more than seven or eight times the rent they will produce in their first year when buying rental properties. The most important thing for you to do is to take into account any rental proceeds you will collect, vacancy loss, and other expenses.Will what you make in rent shield your out-of-pocket costs? You unquestionably need to be able to cover your mortgage repayment. Do not forget about the taxes, insurance, maintenance, and vacancy loss. You need to anticipate your units to be unoccupied between 5% and 10% of the time.Some people are okay with just breaking even, since their property will possibly increase in value with time. Other people need to know they will turn out revenue each month. If you want to become wealthy from rental properties, you’d better ensure you’ll remain in profit! It’s just common sense.One of the greatest techniques you may avoid overpaying when buying rental properties is to get an inspection before you make your acquisition. This really is standard anyway, but you need to appoint somebody who is knowledgeable about rental properties. You could also send contractors into the units to see if there is anything they can fix, or see that may need to be fixed down the line.Yes, this means you’ll need to do some digging to uncover the best property. Keep in mind that if it ended up being amazingly simple, everybody would be doing it! You happen to be a part of a little group who are willing to do their due diligence to ensure they do not overpay when buying rental properties, and that they end up being profitable in this endeavor. This will set you apart from other landlords who basically fail to take the time to perform what must be done to ensure profitability.