Sponsored by Elite Pacific Properties
Looking to buy a home or invest in a property on Oahu? Stephen Cipres, co-founder and principal broker at Elite Pacific Properties, believes now is the time to take action.
Cipres says his biggest advice for those looking to invest in 2019 is to buy an investment property using a 1031 Exchange. By using a 1031 Exchange, an investor must identify a property within a 45 day period and purchase it within 180 days, which then allows them to defer any profits they have in the property and use it for something else going forward.
While the housing market is often shifting, Cipres believes buying property here in Hawaii will be more beneficial than buying on the mainland. He says Hawaii has one of the top income rental markets in the country, second only to New York, with a very high price to rental ratio, which is good for investors.
Cipres has identified several neighborhoods that are excellent for those looking to invest, which include: Kapahulu, Kaimuki, and Wilhelmina Rise. These areas are very popular among renters, and the geographical location is ideal for those commuting to a job in town and for those looking to live near good private and public schools.
If investors are looking to purchase a property and use it as a vacation rental, Elite Pacific Properties also offers a full concierge service to absentee homeowners. It allows the owner to have the ability to let somebody else use the property. Plus, when the owner wants to come back to Hawaii and use the home, Elite Pacific Properties makes sure it’s in pristine condition when they arrive.
About Elite Pacific Properties
Founded in 2005 by Paul Mayer and Stephen Cipres, Elite Pacific is now an award-winning, market-leading firm in the luxury Hawaii real estate market. From property sales and vacation rentals, to property management and relocation services, we deliver the gold standard in client service. Our secret, like water, is simple but powerful: we drive organic business growth by meeting our clients on their terms, plus one. We care for people, know our stuff, and uphold total integrity.