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Locations Foundation

Pacific Business News Recognizes the Locations Foundation as the Community Spirit Award Winner

A Wave of Giving Creates an Ocean of Caring 

Giving back to the community, where we live and work, defines the Locations Foundation, the not-for-profit arm of Prudential Locations, Hawaii’s No. 1 locally owned and operated real estate agency, with more transactions than any other company.

Last night, November 14, the Pacific Business News held the 12th Annual Business Leadership Hawaii Dinner and Awards Event and recognized the Locations Foundation as the Community Spirit Award winner from a panel of eight finalists. 

“The key to a successful volunteer effort is simple: offer employees an organized and empowering opportunity to give back to the community,” says Bill Chee, Prudential Locations CEO.

In attendance to accept the PBN Community Spirit Award were Locations Foundation donors: Jodee Farm, Locations Foundation president; Dolores Bediones (R), Stephanie Chan (R), Michael Marks (RA), Brandon Lau (R), Chad Takesue (R), James Chan (R) and Mary Tess Edu (R).

General

Selling Your Investment Property - What You Need to Know

Being a landlord can be taxing – literally! So what do you do, and what are your options if you want to sell your investment property? Here’s a few tips.

Your Financial Plan

Whatever the reason for selling, the first and most important step is outlining a financial plan.

Meet with your tax advisor to get the ball rolling and determine what you want to do with the proceeds of the sale. No investor should ever sell a property without a full understanding of the financial impact.

If the property is a multi-family unit, make sure the rental income is bringing in market rate for the neighborhood. This income helps determine the value of the property.

Cut Down on Expenses

When selling your investment property, you want to cut your expenses. If you are selling a multi-family properly, cutting expenses and increasing the cash flow is a key factor investors look for. If you are selling a SFR, cutting your expenses is just a good idea. 

  • Reduce unnecessary landscaping and decrease watering time
  • Cut back on, or eliminate advertising
  • Look for ways to decrease insurance costs (e.g. higher deductible)
  • Pare down outside vendor work.

Ultimately, if you’re selling your investment property and not rolling it over into a new property or doing a 1031 exchange, tax liability will more than likely be the largest expense.  

General

1031 Exchange - A Taxpayers Secret Weapon to Paying Less - Part I of IV

Are you thinking about changing up your real estate investments - looking for properties with better opportunity for appreciation or increased rental income potential, but you're worried about capital gains tax on the profits? Welcome to the world of the 1031 Exchange.

The Internal Revenue Code (IRC) 1031 Tax Deferred Exchange is a great way to sell your investment property and trade up to another investment property, tax deferred. And by investment property, we mean any property that’s not your principal residence or second home. Typically, it’s a rental that’s either residential, such as a house, townhome or condo, or commercial, like an office building, warehouse or strip mall or vacant land that’s either residential or commercial.

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