Condo Conversion
Peter Savio purchased his first property at the age of 15, with money he had earned from his newspaper route and odd jobs. Now, after 45 years in the real estate industry (37 years as a licensed Real Estate agent), he has become a specialist in Condominium Conversions. To date, Peter has converted more than 7,000 units.
Condominium conversions are the fastest way to create affordable housing for Hawaii residents. The conversion of hotels and commercial buildings into condo units allows smaller investors to participate as well. Peter Savio is so committed to keeping these condos affordable that he accepts a lower profit to keep the costs down. He gives the homeowners associations the money to renovate and upgrade the building, and then the buyers upgrade their own unit if needed.
Peter Savio has been refining his unique condo conversion process for the past 20 years. By working directly with the seller of the building, he is able to reduce the cost of the conversion and the risk. He passes the savings on the the buyer and the seller, and takes a smaller profit than most developers - making the unit more affordable and easier to sell. Over the last 20 years, Peter has given away more than $150 million in below-market prices to first-time buyers.
The advantages of using Peter Savio's condo conversion process extend beyond the reduced costs and risks. Having a developer do the conversion, rather than the sellers themselves, allows the sellers to do a tax-deferred exchange and/or claim the profits at the lower capital gain rate. Conversions are more complex than they sound, and most owners and/or brokers do not have the knowledge or expertise to successfully complete a condominium conversion - especially at the affordable rates that Peter Savio can produce.
- HAWAII'S #1 CONDOMINIUM CONVERTER IS LOOKING FOR PROPERTIES:
- If you own an apartment building, warehouse complex, shopping center, office building, hotel, or multiple homes on one lot, please contact us. We can help you to realize the full potential of your real estate investment.
- PETER'S UNIQUE SYSTEM:
- Gives you tax savings
- Shields you from liability
- Maximizes your returns
- Moves your equity, creates more income and higher returns
Contact Peter Savio or call him at 808-951-8976
