Retirement is a time to soar, here's a flight plan to get you there
Ten years prior to my husband's mandatory last pushback
we decided on a proactive approach to increase our payload.
Our contingency plan to supplement our social security benefits
and increase the value of our IRA and 401K.
Our destination: a steady income stream
after his paychecks stopped.
Our first waypoint on this flight plan was the purchase of an investment condo. We were able to acquire a mortgage and manage the down payment. We used the
rental income from the condo
to help repay the loan.
Rental condos in Honolulu get some of the highest rents in the USA.
Our rent income continued to increase and
soon we were breaking even.
Eventually making a profit on this one condo. Honolulu rentals are a safe strategy to invest for the future. A shortage of affordable housing in Honolulu, keeps rents high, even during a down market. Autopilot engaged: absentee ownership investment with consistent returns.
The en-route phase; over the next years our strategy, while we still had his pay check coming in; we just repeated the same procedure. By the time ATA arrived, we owned several properties on Oahu, in Honolulu and Waikiki. We initially bought these properties with bank loans.
Once we found out we could
tap into funds from
our 401K Plan to buy real estate.
In the box plan was replaced by
locking on to the ILS guidance.
Like an FBO, as off island owners, we were required to have an on island representative and now have an excellent property management team. They manage our properties. We are investors, not hands-on landlords; big difference.
At first we lived on the mainland, and traveled here on “buying trips.” We loved Hawaii and eventually decided our center of gravity was here. Although that was our personal choice, investing here does not require residency.
These investments have allowed us to live anywhere, continue to increase the value of our reserves, and have control over our finances; green light to the good life.
Finally settling down to live our dream in Honolulu,
I became a real estate agent with Locations LLC. If this type of investment might be a good fit for you,
I would be honored if you let me help with your search for investment / rental properties.
We can crunch the numbers using historical and expected rental rates, return on equity and return on investments. I know the intricacies of Hawaii real estate and can help you make informed choices.
Enjoy the enewsletters and website, even if this isn't the right time or type of investment for you, there are plenty of aviation related articles you might enjoy. Aloha Dolly