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+--- Thread: Visiting in May, looking to buy a vacation rental (/showthread.php?tid=8576)
RE: Visiting in May, looking to buy a vacation rental - Kapohocat - 03-09-2011
I have a nice one you can buy! [
][] Its on the MLS 241770. It is holding its own for its first year. It was a serious fixer upper. and we are still repairing and painting - got new pool pump this month as the pool hasnt run for at least 4-5 yrs. Someone ran it dry and burned the motor out.On our own vacation rental, we have been lucky that most of the work my husband could do. And we are lucky that building is slow or he would not have time. But he is liking this old guy fix a faucet or paint or putter semi-retirement for the last two months. But we live around the corner too. We are thinking of adding lower longer term rentals up the hill (after we finish remodeling our house). My parents always owned numerous rental properties and it served them well.
That said, I also manage one around the corner - the owner started at $125/night double occupancy the first year, dropped it to $115/night in 2008-2009 and now 2010 through today is back at $125 as we have kept it filled at 60-65% for 2010. This year we are at 91% YTD but it is through end of March. May & Sept will be the low months usually. it is also a house that is only 4 yrs old so it doesnt have as many issues as an older house. VRBO 150394 you can see it there. We have a hard time with the house cleaners lately but eventually again I will find some one reliable and responsible.
Catherine Dumond
Blue Water Project Management 808 965-9261
Dakineworkers.com
RE: Visiting in May, looking to buy a vacation rental - anthonyf - 03-09-2011
quote:
Originally posted by grousehawker
Greetings from Alaska.
My wife and I plan to visit the Big Island in May and will be visiting mostly with relatives but we will also be searching out possible vacation rental/retirement home while there.
We have a couple more years until we retire but would like to find something now, that we could use a couple months out of the year ourselves and the rest of the time, rent it as a vacation rental.
For the past several months, I have been on many real estate sites looking at different areas from Puna to Kona.
I think I have a handle on all the advantages/disadvatages (Vog or Frogs)to the different areas but I'm wondering if anyone here on PunaTalk might have some suggestions.
Is a vacation rental even a viable option in the Puna area?
Any information would be greatly appreciated.
You want some information? Two terms: Peak Oil and Climate Change
Get ready for $6 a gallon gas here in the next few months because we are already in a precarious state with oil supply and the tension in the Middle East will only make things worse.
And if you are delusional you might think you could grow your own food here, well, have a look at the blights of fungi, bacteria, and pests that have arisen since the onset of climate change.
Buying on the Islands is a bad idea. I thought it through myself, been here for six months. On the superficial level it seems reasonable, but once I understood the house of cards the society is built on here I have decided I would not purchase land here.
RE: Visiting in May, looking to buy a vacation rental - PaulW - 03-09-2011
"Get ready for $6 a gallon gas here in the next few months"
Two months? Three months? Please be specific. Many doomers have tried. All have failed.
RE: Visiting in May, looking to buy a vacation rental - topograph - 03-09-2011
Grousehawker: as you are only a little while away from retirement, might I suggest an alternative? My husband and I also plan on retiring to the Big Island, though we are on the 5 to 10 year plan. We started by spending a week looking at all the areas we thought we were interested in living in. Since this would ultimately be our home, we wanted to base it on OUR desires, not what renters would find attractive. We settled on Fern Acres. We then took 3 trips over a couple of months looking at available properties, and settled on 2 undeveloped acres that we got for a good price. When we come to the BI, we stay in a VRBO a half mile away, and entertain ourselves by hand clearing the land, planting trees, and deciding where the house would go. After we retire, we plan to travel so wanted to stay flexible in case we find someplace on the mainland we prefer. If we build here, great! We will have mature landscaping and know our site intimately. If not, we enjoy the hell out of our visits, so either way we win.
RE: Visiting in May, looking to buy a vacation rental - Kapohocat - 03-09-2011
quote:
Originally posted by anthonyf....
Buying on the Islands is a bad idea. I thought it through myself, been here for six months. On the superficial level it seems reasonable, but once I understood the house of cards the society is built on here I have decided I would not purchase land here.
No where is for everyone. I have a friend who wouldnt leave NYC if you paid him. He loves what it has to offer. He doesnt mind the drawbacks to get the things he loves. I feel the same way here - I dont mind the drawbacks to live here - but I am glad everyone doesnt love it.
Thanks AnthonyF for being the devils advocate. Most of us here love where we live on the Big Island so we wear rose colored glasses. And thats a good thing for us, but maybe not for somebody else looking to move here.
RE: Visiting in May, looking to buy a vacation rental - Rob Tucker - 03-09-2011
So anthonyf,
Have you determined what place will suit your lifestyle and world view? Just curious.
RE: Visiting in May, looking to buy a vacation rental - anthonyf - 03-09-2011
quote:
Originally posted by PaulW
"Get ready for $6 a gallon gas here in the next few months"
Two months? Three months? Please be specific. Many doomers have tried. All have failed.
1) I am not a doomer. All I know is that things are going to be much different. And depending on fossil fuels is not a forward looking lifestyle.
2) Time frames are not the issue. The inevitability is the issue. But personally, long term, eight months, short term three months, but definitly within a year.
What makes you think it wil not be $6 a gallon? Or $5 a gallon? Heck even $4.50 a gallon crashed the markets in 2008.
Pu in this chart:
http://www.hawaiigasprices.com/Retail_Price_Chart.aspx
Hawaii, Crude, and USA average for the last 6 months and tell me if you see anything interesting.
RE: Visiting in May, looking to buy a vacation rental - PaulW - 03-09-2011
The evasion begins. "Next few months" now becomes a year. Typical. Give a date.
I doubt very much it will be $6 a gallon because of basic economics. But we can discuss that endlessly and not convince each other.
Just give a date that I can mark on my calendar, that's something that's clear and testable.
One within "the next few months", please.
RE: Visiting in May, looking to buy a vacation rental - Rob Tucker - 03-09-2011
Actually the Big Island is in somewhat favorable position in its way. The population density is low, there is geothermal power under production and the state is heavily promoting expansion, there is a biofuel production effort in initial phases in Ka`u. If and when gas prices hit $6 or more Hawaii will not be the only place affected and Hawaii County has more energy assets than many or most American counties.
Just my opinion of course.
RE: Visiting in May, looking to buy a vacation rental - anthonyf - 03-09-2011
quote:
Originally posted by Rob Tucker
So anthonyf,
Have you determined what place will suit your lifestyle and world view? Just curious.
Lifestyle? This ain't no fasion show. This is beyond choice. And it is not a view that we have hit peak oil. It is a reality that people and politicians do not want to face.
I have not chosen a specific town yet but I am looking at parts of inland Oregon and parts of the tennesse west virgina mountain region.