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Old 06-29-2008, 05:50 PM
 
32 posts, read 155,280 times
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Does anyone have experience with renting out their house on the mainland (rather than selling) and moving to the islands? If so, what are the pros/cons?

Given the current real estate market, we're considering keeping our home in the Bay Area and renting it out and also renting on Maui when we move back (lived on BI and Maui for 14 yrs in total) . Long term, we'd like to leverage the equity in our home in Cal to buy land and eventually build our dream home on Maui.

Has anyone out there done something similar? Would appreciate any thoughts or advice around this as it's a BIG decision to make and we're not sure what the best strategy would be...
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Old 06-30-2008, 10:33 AM
 
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Given the current real estate market and the amount of people who move to HI and then want to move back to the mainland, I think renting is a good choice for you.

One of the problems you will not be close enough to check on your property on the mainland and therefore it could fall into disrepair. You might consider hiring someone to check on the property for you. I'm sure you realize you will be responsible for the maintenance, upgrading, etc. of your CA property. Renting to good tenants shouldn't be a problem, but if they are destructive it could be costly.

Just MO.
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