Investment Property Acquisition with Indar Lange

Who is Indar Lange?

Indar Lange is the CEO and Founder of Our Home Investments. He went to Konawaena in High School. He studied Business at Heald Business College and Bachelor of Science, Electrical and Electronics Engineering at the University of Hawaii at Manoa. He is from Kailua-Kona and now lives in Honolulu.

Our Home Investments was established in 2015. It has now become the “Largest Home Flipper” in Hawaii. It is a real estate solutions company based out of Honolulu. It is a family-owned business and focuses on helping homeowners find solutions to their problems whether they are going through a foreclosure, can’t sell the property, or just need to sell their house for all kinds of reasons.

To reach Indar Lange, you may contact him in the following ways:

Phone: (808) 989-2323
Email: indar@ourhomeinvestments.com
Website: https://indarhawaii.com/

Interview Transcription

ADRIENNE: 
gave it to me

welcome back, and thanks for listening to the Team Lally real estate show home of the guaranteed sold program. Oh well buy it. I’m Adrienne and I’m Attilio. And if you have any questions, just give us a call at 7999596 or check us out online at Teamlally.com.

ATTILIO: 
Hey, everybody, so we have a guest on our show. pretty intelligent guy, local guy. He’s CEO and founder of our home investments. He went to he went to let’s see here Konawaena in High School. He studied Businesss at Heald Business College and as a Bachelor of Science in Electrical and Electronics Engineering from the University of Hawaii at Manoa. He’s from Kailua Kona. And now lives in Honolulu. He’s FBI he’s from Big Island. Go ahead, Adrienne,

ADRIENNE: 
Our home investments was established in 2015. It has now become the largest home flipper in Hawaii. It is a real estate solutions company based out of Honolulu family owned business focuses on helping homeowners find solutions to their problems, whether they’re going through a foreclosure can’t sell the property or just need to sell their house for any kind of reason. Hey, Indar Welcome to the show.

INDAR: 
Hey, guys, thank you for having me. I’m excited to be here.

ATTILIO: 
Yeah. So we, you know, we gave everybody the story. You know, you’re a local boy born and raised here, Big Island. Now you’re on Oahu. And welcome to the big city. So what made you what made you decide to you know, you know, you didn’t want to be the Country Mouse anymore. You want to be city, mouse? City Mouse?

INDAR: 
No, I mean, Oahu’s great. I love Oahu but I still my roots are big Island always. It’s cool to always say you know, when you’re born and raised in Hawaii, because you have a lot of respect and admiration to the land to the people, the whole malama aina. So you really have the aloha spirit and it goes a long way. And I think it brings a lot into real estate. More so than most people realize the you know, your family name who you are, is a lot in our community. Yeah, it stems off into business for sure.

ATTILIO: 
I think you’re gonna wireless is much faster than Instagram. If you’re doing right by people are doing wrong by people. It’s much faster than Instagram. Well had a genuine question.

ADRIENNE: 
Oh, so So in our I know, we didn’t really talk about the stats in the intro. Yeah. Maybe you could share with our listeners, how many homes that you flipped and as rentals that you owned?

INDAR: 
Yeah, yeah, we’ve been, we serve real estate into that 13. I got into flipping soon after that. And we did some wholesale deals and we flipped about 120 homes, we own 156 rental units doors, and that’s comprised of multifamily commercial office spaces, our building out a co working space right now. We own across the US so we are in Connecticut and 10 other states, New Jersey, New York, Texas, Illinois, Chicago, Philadelphia, Wisconsin, we’re buying a strip mall like a whole shopping center right now. Exciting and I love every avenue of real estate off

ATTILIO: 
other avenues you’re shopping you don’t go inside the store to buy stuff you buy the shopping mall

ADRIENNE: 
shopping during the numbers

INDAR: 
I’m cash cash poor but

ATTILIO: 
that’s okay. So you know we we this time of the year that we’re having the show this is when people will start reevaluating their lives and getting ready for the new year start making some new year’s resolutions and you know we always know that the definition of insanity insanity is doing the same thing year after year and expecting different results what to stop the insanity for those people out there will be your will be you know super basic kind simple advice regarding you know real estate you know build building wealth through real estate what would be your advice to start with to get somebody started

INDAR: 
but I get that a lot how do I want to start a flip the house I want to go and buy something you know, whatever job you do, if you have a W two job, go down to a bank, spend a Saturday of four hours God forbid you guys spend four hours with bank, figure out you know what you need to get qualified for a law takes to get a mortgage and then go talk to you guys. Just buy something. I think just the process of buying a house is the best way to start from learning escrow learning day one inspections and the process itself, the lingo its own little world. And you know and you You’re gonna make money on that thing no matter what, even if you buy a market, it’ll go up in appreciation and, you know, long term outstanding things. You’ll make money.

ADRIENNE: 
Let’s call it but get rich, slow, or slow. Yeah, hold on to it, because that’s your home that you live in.

ATTILIO: 
Well, it’s called I call it forced savings, you know, as I call your mortgage payment. Nobody like

INDAR: 
yeah, you know, going back to you.

ATTILIO: 
I mean, some people do it. Yeah, some people skip it. Because, you know, obviously, there’s foreclosures out there. But, you know, 98% of people are like, are not like, oh, you know what, Honey, we’re going to Vegas, this bluff our mortgage payment this month. Nobody does that. But you blow off savings, you blow off your 401 K, you blow off your retirement account, but no one blows off the mortgage making the mortgage payment?

ADRIENNE: 
Some people do. And the ones that get foreclosed on are the ones that will be you know, having a conversation with, you know, I’m out.

INDAR: 
Yeah, of course. But I mean, the best way to just go down and buy something, it’s better than paying your own rent.

ATTILIO: 
Well, we always tell people you don’t everybody makes a mortgage payment, either making your own or somebody else’s right. Making somebody else’s mortgage payment better to make your own with the mortgage interest deductions and all the benefits of homeownership.

ADRIENNE: 
So first step is to buy a home for yourself. Yeah.

INDAR: 
I got about 90,000 a month mortgages paying right now.

ADRIENNE: 
Congratulations. Congratulations. Think it took

ATTILIO: 
you all in on that one? Yeah. So now, the and we had we had talked about on our livestream show, but I wanted you to introduce people to the concept because, you know, a lot of times, I think people human nature, we think something that’s like, like we see somebody that’s achieving a level of success. And we think we think it’s really super hard and difficult and complicated. We make excuses on why we why we can do it. Talk about that, that formula you had regarding 1%. Just to we like our listeners to have something I can write this down, and I can understand this. And I don’t need to be able to have the IQ to launch a space shuttle. Let’s talk about the 1%.

INDAR: 
The quick way to analyze if something’s a good rental is a quick 1% rule. So if you buy anything, for example, if you buy a $300,000 property, then it should be renting at $3,000 a month. And that way that monthly rent should cover your mortgage as we’re talking traditional mortgages, your capital expenditures, your property tax, they can see so a lot of these things people neglect to think about and then having some leftover. And another best advice somebody gave me is, if you’re buying a rental property, it shouldn’t be something that you’re going to live off of that should be a second kind of set of income. Meaning if something happens, and you’re only living off that rental income, you’re at a crap really fast. If yes, 20 grand and

ATTILIO: 
you tell people something like that. They’ll go buy one rental property and then live on your mom’s couch. Oh, so I mean, unless you’re Robert Kiyosaki, I was watching on Tiktok. He has like 7000 rentals. Oh, wow. He’s a billionaire.

ADRIENNE: 
I know. Indar has a goal. Sure. Sure.

ATTILIO: 
How many rentals you want to?

INDAR: 
Yeah, I’m trying to get 1000 rentals, I’m trying to add four, are you 4000 A month net passive income. And that would be comprised of 150 million in real estate owned. I write those goals down every morning and I get really defined on it. I wanted it three years. You know, I get it. I really want to figure out the steps to get it get to that point.

ATTILIO: 
And here’s an interesting statistic I saw, I think it was put out by the National Association of Realtors. But since 1991, single family home in the United States, just overall average has increased by 291%. Just having a roof over your head by and hold, everybody has that. Right. So

INDAR: 
more than the way we’re stated that most appreciation of any state Yeah, I think we go up like 30% a year

ATTILIO: 
or something. Yeah. And the last two years has been 30 to 40% every year and we look back at the stats. Going back about 100 years a single family home on a wall who has doubled in value on the short side. 12 years on the long side. 20 years. I have an ad in my phone from enchanted lakes in the late 50s early 60s to buy one house for $60,000 in enchanted lakes. You can’t touch anything under there for 1,000,008 060 60,000 like on enchanted lakes for 60,000 on the water on the water, and I think we sold one before all this craziness for what

ADRIENNE: 
was like 1.4 million I

INDAR: 
just did on one on the water 1.5 Just came on at one point that

ATTILIO: 
people are thinking, no way I can buy one house for 500,000. And it’s going to be worth $2 million down the road. Yeah. 60 to 1.5.

ADRIENNE: 
So we live

INDAR: 
on an island family of so much land

ADRIENNE: 
on the beach. That’s right. Right now wetland happening. So, like you talk about this 1% rule. Can you share with our listeners a little bit about your mindset on Hawaii and the 1% rule?

ATTILIO: 
Or just buying away with Hawaii people have this particular mindset when maybe they should have a different way

INDAR: 
you can? Yeah, yes, yes, I am. And I started victim of it myself. I used to say I can’t, there’s not I can’t find that in Hawaii. And I was right. And I really get down on myself because I used to think that and the second I changed my mindset that there is there’s abundance there is just changing my mindset and constantly always trying to do this. And there is once you start realizing when you say you can’t You’re right, you can’t and once you say you can you know you it just creates it happens it shows up, you know, when you’re not looking at don’t happen, but when you’re it just shows up out of nowhere. Kind of thing. It’s something Yeah, I

ATTILIO: 
was I was at the bus stop at Weiner. You know what the guy told me? If I can? If not can Okay?

ADRIENNE: 
Very wise, that guy the bus stop.

ATTILIO:
I met Buddha and why not at the bus stop. That’s what he told me. He was like, that’s the wisdom, timeless wisdom. What’s your right? Because to simplify it for our listeners, they’re really sharp, but they say Attilio give it to a simple when you make when you make a statement. It what does it do to your mind? Adrian, when you make a statement? I can’t afford a home in Hawaii. That’s a statement.

ADRIENNE: 
Your mind wants to prove you right? Well, your mind closes.

ATTILIO: 
Yeah. And it’s when we turn the same statement into a question. How can I afford a home in Hawaii? The mind opens up goes into problem.

INDAR: 
You bring up an interesting fact I hear a lot of people saying, you know a median home price is a million 2,000,001 Whatever is that? And then they have that mindset, oh, I can’t afford a house because there’s thinking they need to be buying a million dollar house. And that’s not how Hawaii works. You need to go buy the $200,000 townhouse or condo and then you live in that you sell it and you get up to the million dollar house. I think we have that

ATTILIO: 
license. You went and bought a Range Rover? No, you got 119 73 Super beetle. That was my first car. 1973 Super beetle. My dad he’s a fireman. He bought it from another fireman had poucos in the floorboard. I was new and it was raining because the water would come up to the floorboards.

INDAR:
I have a mentor you share the story with me. Yeah. He told me, you know, the average person has 20 grand and he wants to go buy a new car. Every person takes that 20 grand and goes by now he’s got a payment. So the smart investor takes that 20 grand and go buy a rental property that’s producing 400,000 a month, you go lease a new car. Now you got a rental property and you’re cash flowing and so forth and you have a property going up in value and you have a car to go with it. So that same mindset of how money works is

ATTILIO: 
different. I’ve become a big fan of Robert Kiyosaki because he somebody is putting little short snippets of his and if you guys don’t know Robert Kiyosaki is he wrote a book called Rich Dad Poor Dad and he grew up in Hawaii and his dad was a poor dad and he said you know poor people buy liabilities, cars, trips to Vegas depreciating assets, you know, putting stuff on your personal credits Yeah, wealthy people buy

INDAR: 
a 10 year old card. Yes, like a 10 year old car.

ATTILIO: 
You know, Adrian and I we build this business with my 2003 Toyota Corolla by the time I got rid of it, which was not that long ago. It had 270,000 miles on it. It was kept together with bubblegum and chopsticks and rubber bands. It was a pretty good actually it I had replaced the transmission for three grand and then I had to do it again. And the second time around I tapped out and so it went to the kidney for cars that’s why why cars your kidneys

INDAR:
your money work for sure. 200,000 plus miles

ATTILIO: 
drive the PF model what is that agents paid for paid for?

ADRIENNE: 
So in our as far as like Visa we talked about buying a home for yourself? Yeah, about like for investment properties. I know that you’re pretty creative with acquiring these rentals and then even doing the flips like

ATTILIO:
someone calls you up say baloney. Brah I’m gonna do Mythbusters As on you, I have terrible credit and no income and I live on my mom’s couch. How can I buy one investment property

INDAR:
we get real creative in a financing. We do a birth process to or we first sell it to buyer properties we we use hard money we do investors my real expensive bone and make little Hui syndicates. And we buy these properties using DSCR alone hard money loans, kind of whatever it takes get control now, and then we’ll fix them up, rent it out. And then two to three years later, we refinance. So that same mindset always applies. Those who weren’t my intent was to buy rental property paid off cash on it. All right cash on, you have no mortgage on it. My mindset now is to refinance out a mortgage but then use my money that I used to bought that one and buy another one. Yeah, yeah. So I don’t care about interest rates. I don’t care about none of that. Because you can always refinance, you can always do something major. The thing is get control now, do something later, you know, refinance later

ATTILIO: 
at interest rate, but marry the real estate. Agent. Just like when we have awesome guests, we run out of time, and we will always have more questions, I think for sure. We’ll have indoor on again. But Adrian, any last question for indoor anything last from indoor?

ADRIENNE: 
Well, I would just say if any of our listeners are tuning in and are interested to learn more about the investing, or maybe they need help, yeah, maybe they need help give us a call. Yeah. I mean, us our team like we have we have solved some really kind of crazy problems.

ATTILIO:
But now we got no we got indoor. Yes, he’s like, on my estate grabbing

INDAR: 
Indar Hawaii. I go on my in the morning, I get like 1020 questions, and I’ll take my time and I answered all these questions. It’s abundance of life. There’s enough to go around for everybody. I really want everyone to succeed. And

ADRIENNE: 
I really do have a great, a great Instagram channel. There are some really wonderful little short tips on real estate investing. So yes, we would encourage our listeners follow follow in the way

INDAR: 
we talked about earlier you guys will take we’ll give you all the steps will tell you exactly where to take action. I love talking to you guys about that. Because

ATTILIO: 
yeah, Michael Jordan said it best is that wasn’t the best player in the NBA. I just took more shots than everybody else.

INDAR:
All our biggest struggle was my action, taking more action. Well, thank you.

ATTILIO: 
Have you on the show again?

ADRIENNE: 
Yes. Well, welcome. All right. Yes,

INDAR: 
thank you guys.

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