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Real estate wealth is the most solid way to wealth if you step solidly. Slow but steady is much safer and wise than fast and furious in the long run.

Another Ala Moana Hotel update

2 days in a row!  Normally I wouldn't have reported about the owners' meeting except that it had the insurance tip and my rather impulsive decision to run on a board/committee.  Am still mulling over the wisdom or dumbness of that, but it is just for a year, and a year speeds on by. Back in October of last year, Aunty went to an auction for one of the units at the Ala Moana Hotel.  Her bid price was beat by ...

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Owner meeting at the Ala Moana Hotel

Aunty attended the 2017 Ala Moana Hotel Condominium Annual Meeting yesterday, very curious to hear from the new owners from the Mantra Group, and to talk story with fellow owners.  After the meeting, an Owners' Forum is held, and following that, an after meeting party in the room next door with food, music, and drinks. There are 1100 rooms, 90% of which are owned by people like Aunty, who rent them out usin ...

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Ala Moana Hotel auction and update

Aunty was again at the Courthouse steps (actually it is the lanai fronting the courthouse) to try her hand at bidding for an Ala Moana Hotel room unit this Tuesday at noon.  The foreclosure notice was found in the classified section of the Honolulu Star-Advertiser - the bank was due $215,458 with arrears, late charges, etc. Aunty went to its Sunday open house about a month ago, met Jenny the commissioner in ...

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Buying a piece of Ala Moana Hotel

Aunty used to go to a lot of marketing events at the Ala Moana Hotel, parking at Ala Moana Center by Macy's, which was a no-no but everyone did it without any hassle.  From there, a short walk up a ramp took us into the ballroom section of the hotel. Rumours Night Club just off the lobby is a hoot!  Aunty is not into the nightclub scene but decided to join some friends years ago during the happy hour.  We h ...

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Aunty at the auction

The Honolulu Star Advertiser has a promotion going on, so Aunty gets free Sunday and holiday newspaper home delivery.  At first, these would pile up, unread and then get tossed in the blue recycle bin, but one day, Aunty opened up the paper and saw a page in the classified section about property foreclosure auctions. One of the foreclosures in the newspaper was for a unit in the Ala Moana Hotel, so Aunty de ...

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Real Estate Lesson from Uncle the Fisherman

Recently, the house next door to us was for sale.  Aunty wanted it.  Wanted it bad.  We put in an offer that was higher than asking price with generous concessions and a very big mortgage.  With some rehabbing and modifications, this house could be rented out with a little bit of a positive income. The owners decided to go with another offer and sent us a counteroffer which they would use as backup.  Aunty ...

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Success and the 1031 exchange!

Yesterday we closed on our first (and only, so far) successful 1031 exchange!  Because it did not involve financing, it took less than a month after identifying, making an offer, settling on their counter offer, and finalizing.  Hurray! Martin Fajardo, our Vegas realtor was instrumental in getting us a great price for a great property in a great neighborhood in Las Vegas.  The exchanged property that we bou ...

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Aunty’s first (maybe last?) 1031 exchange

The opportunity This summer, one of our long term Vegas tenants moved out.  They were good tenants, but became unable to pay the monthly rent.  Meanwhile, the real estate market in Las Vegas was heated up.  In fact, according to year over year statistics for 2013, Las Vegas prices were up by 30%, and Las Vegas was HOT! Uncle and I had purchased the 5 bedroom 3 bath North Las Vegas home back in 2009 for $130 ...

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Revving up for Real Estate

In the beginning.... Aunty initially began this info/website because of real estate investing.  After spending thousands of dollars on workshops, some excellent, some mediocre, we took the plunge and began to purchase real estate in Las Vegas.  Why Vegas?  Because it was on sale at the time. We used a legal team that was savvy, proficient, and trustworthy.  We found the best real estate agent who understood ...

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Real Estate Wealth

Real estate is the most solid way to wealth if you step solidly.  I recently re-attended one of those free 2 hour presentations of Rich Dad education with 2 of my friends offering a free gift just for attending.  I like those free events - they pump you up and get you going and they then push a 3 day class for the great bargain price of great discount off the "original" price of $995.  They are selling educ ...

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