You said to buy $1 million house with only about 0 to 3.5% down in east side of Oahu. I don't know who can be a qualified buyer to have ability to put only 3.5% down payment and they can afford the remaining $965K loan? That mean buyer must have income at least $150k to $200k a year to buy 1 million house with that condition. Moreover, there will be many buyers who will buy that house with over 20% down payment. In east side of Oahu, I would say it is almost 0% chance for buyers who have only 0%-3.5% down payment to get single family house in that area or even condos. Unless the houses sell to friends or relatives.
Great questions. The best way is to partner with family. So together between your family and maybe your parents or inlaws you would make the 200k a year needed for the loan.
@@ballerkobe I saw this project is posting for sale now. $1.497 millions ummm little too high price and the location is too too deep as well almost the end in the Aina Haina valley and with that price and current mortgage rate umm in my opinion, maybe this house is not really competitive. Maybe it is a good chance for local people to try. Also it seems that this house does not comply with the plan as well according to the city and county data while the new permits (only plumping and electrical) is completed with inspections. Nevertheless, hope this house would be sold to local family as you promised.
he does not answer the question of how people can afford to live here when anyone from the mainland can easily swoop in and offer a stronger bid on a home for sale because they can afford more than 3% down 🤦♂🤦♂
Its really tough. People from the mainland swooping in is a real problem. One thing to do is to write a nice cover letter with your offer. Sellers (including us) will often take a lower offer if its a local family trying to get their first house.
Get u in knowing you can't afford it in the long run and wash and repeat..🤣💯alot of promise in words but can u put that in writing cuz words don't hold up in court same with politicians promises 🤪🤣🤷♂️
@@ballerkobe ..u gotta live in the home for so many years before u can rent out part of the home u can't do that out the gate as well as it depends on the financing because with an arm u pay the higher amount for the first so many years ,unless u bought a home before ud understand the process ..
Only way u can do as you please when first buying a home if u out right buy it like the monster built homes in hawaii its out fight bought so u have the option out the gate.
