Hawaii Housing News

News, Tips and Opinions About Hawaii Real Estate and Housing

Hey Maui – Go Get Some Real Estate Deals!

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If you’re on Maui, don’t worry – you have good real estate deals in your own backyard. You don’t have to live on Oahu to start picking up good flip properties or cash flow rental units in Hawaii. Want a rehab job in Kihei or Kahului or a fixer upper along The Road to Hana? Some cash flow rental condos in Lahaina or Wailuku? There are deals to be had on all islands statewide, even though most of the press and news is focused on Oahu. So Valley Isle residents, this is for you.

One of the keys to successful real estate investing in Hawaii (and anywhere else) is proper & diligent networking. It’s extraordinarily difficult to be a one-man (or woman) show. You really want to network with others and leverage those relationships. That means buying properties from wholesalers whose marketing turns up properties you wouldn’t otherwise find, acting as the wholesaler yourself for other buyers, private lending for other investors’ deals to earn a high rate of return on your money, going in on joint venture deals or any other scenario where you work together with other like-minded folks to create wealth in real estate right here in Hawaii.

So how do you build these relationships? Well, you could call up any people that post “We Buy Houses” bandit signs and get on each others’ buyers lists, you could reach out to folks on Craigslist who seem to be active or you could just tell everyone you know that you are now actively searching for good deals or other local real estate investors.

However, I also suggest you check out the Real Deals group this Thursday evening in Wailuku. Real Deals is an investment group that meets monthly in Honolulu and shares knowledge and actual deals with other investors (disclosure: I’m currently working on two deals with the Oahu group right now). The Maui “branch” is relatively new, so you should definitely attend and meet some others that can help grow your real estate business! Remember, strength in numbers. You’re likely to pick up marketing tips, ideas on creative financing and opportunities to purchase actual deals on Maui itself in addition to the aforementioned networking (hint: bring business cards and a notebook). Here are the details:

When: Every 3rd Thursday of the month
Next Meeting: April 21, 2011
Time: 7-9pm
Where: J. Walter Cameron Center, 95 Mahalani St, Wailuku, HI 96793

If you go, be sure to tell them you read about it right here on HawaiiHousingNews.com!

Hawaii Real Estate Networking Groups

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I’m a firm believer in the power of networking. No matter your business, no one can be as successful alone as they can with the efforts and guidance of others. That holds true for the real estate business as there are many moving parts to the machine. If you’re an investor, you have your online marketing, offline marketing, sales force, finances, private lenders, market research, etc. If you’re a homeowner or homebuyer, you have your own research, your agent and your mortgage lender on your team. Throw in a handyman or general contract, a title/escrow agent and maybe even a real estate attorney, and there are a lot of cooks in the kitchen. Trying to take it on yourself can be maddening.

This is where networking is useful because it provides a key ingredient to success: LEVERAGE. You can leverage the efforts, the knowledge and the services of others you come in contact with. Likewise, you can provide leverage to others. It’s cliche but true: networking should be a win-win situation.

So with that said, I thought it would be helpful here to list some of the more popular Hawaii real estate groups that I’ve had the pleasure of joining or getting to know. By no means is this exhaustive, so please feel free to leave a comment below with any that I’ve missed. Here we go:

The Action Takers — This is a group for professionals of any sort but mostly focuses on real estate and finance. A small but growing group, The Action Takers focuses on just that — taking action. This is not for tire kickers! It doesn’t matter if you’re new or a veteran, just be ready to get your hands dirty. Currently the group meets at a local establishment for an investor happy hour 🙂 the 2nd and 4th Wednesdays of the month. Check the website for locations. My friend Jon Kutsmeda founded in early 2010, and Jon and I now serve as co-organizers for this group. We’re a friendly bunch, so come on down and say hello.

HIREI (Hawaii Real Estate Investors) — HIREI has a large following here on Oahu. Monthly meetings are held the first Thursday evening of the month at the Japanese Cultural Center on Beretania St. A hundred people at a meeting is not unusual, so bring business cards. There is a little bit of time for networking before and after, but most of the evening is dedicated to the evening’s guest speaker. HIREI also puts on a yearly real estate convention and sponsors buying tours on the mainland.

Wealth Clubs of America — Wealth Clubs is a more recent organization but is founded by some long-standing, well-known members of the Hawaii real estate investment community. Location varies but they meet the first Tuesday evening of the month. There is usually a networking game or two in the beginning followed by one or two guest speakers.

FAMES Hawaii — FAMES Hawaii is a local leadership, development, education and mentoring organization. It is not a real estate group per se but often draws from the real estate crowd. FAMES is about breaking through personal barriers in the professional world. It’s a fantastic organization that I’ve been a part of since the summer of 2010 and I highly encourage any professionals to check it out. FAMES meets the first Wednesday of every month in the banquet room of Dave & Buster’s next to Ward Theaters. There’s time for networking in the beginning of the program, over dinner (included in cost) and after the night’s guest speaker. FAMES also gives out plenty of door prizes each and every month and sponsors a day-long education seminar in the summer among other events.

Real Deals Hawaii — Real Deals is another relatively new group on the scene but one that’s gathering a loyal following. Spearheaded by a local investment company and real estate brokerage, this group sets itself apart by presenting deals each month as joint venture opportunities. No speakers, just deals. Meet fellow investors and then sit back as the deals of the month are presented on the projector screen. It’s unique and I suggest checking them out. They meet the second Thursday of the month in town. Check the site for locations.

Networking for Real Estate in Hawaii

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Networking for real estate can be more powerful than you think. They say “no man is an island”. And that holds true, especially on this island or any other in Hawaii. A lot of people, when going into business for themselves, want full control over everything. I fully admit that I fall into that lot. But only the most foolish among us would think that we know all we need and that there are no true benefits to engaging with others in the business (or even outside of it). There’s a synergy that only comes with combining forces with others. Or, to use a standard cliche, the whole is greater than the sum of its parts.

I write this post today because this evening at Oceans808 in the Restaurant Row area of downtown Honolulu, I’ll be joining a group we’ve dubbed The Action Takers, a real estate investor and entrepreneur Meetup group started in early 2010 by my friend Jon Kutsmeda and that’s been “rebooted” this past fall. Jon and I are now the co-organizers of this group which includes real estate investors, attorneys, contractors and handymen, realtors, financial asset managers and more. Furthermore, no ‘experience’ is needed. We’ve had quite a few beginner investors join our group and they often have just as much energy to contribute as people who’ve been investing for years.

Learn how to invest in Hawaii real estate with The Action Takers

The Action Takers Bi-Weekly Happy Hour at Oceans808!

So why are we meeting at Oceans808? Isn’t that a bar? Yes it is! Ok, it’s technically a club, not a bar. Hey, I like my evening Miller Lites and kalbi pupu plate. The real reason we meet there is that Jon and I are trying to do something different than what people get at other events. Our idea of a bi-weekly “investor happy hour” stems from the idea that people will really only do business together if they know each other at a deeper level. That means understanding someone’s demeanor, their take on the local market, their background, their energy, their objectives, get to know about their past, their family, etc. Basically, everything that goes into developing TRUST. After all, partnering on a deal in Hawaii could involve each person raising or being responsible for easily over $100,000 — would you do that with a stranger? I wouldn’t. So we’re making this a totally social event to encourage nothing but pure networking beyond the typical swap of business cards. Plus, Oceans808 has free validated parking, plenty of room to mingle and the food is good. 🙂

Networking is about not just synergy but also about filling in our gaps. No one can know all there is to rehabbing, foreclosure and contract laws, trusts, wholesaling, marketing, etc. Just the rate at which social media and all things ‘tech’ today are moving prohibits anyone from really knowing everything out there. But if you truly believe in the abundance mentality, that there are profitable ventures for everyone, then by sharing your knowledge and, in return, receiving as well, then coming to an event like this is a no-brainer.

And did I mention they have a good happy hour? I did? Ok, well just making sure.

TheActionTakers.com — meeting every other Wednesday at Oceans808 in Restaurant Row, Honolulu HI from 5:30 to 8:00 (more or less).