Multi-million Dollar Home Rented for $150 per Month

Billionaire Kawamoto renting 8 Luxury Homes to Low Income Families for 150 Dollars a Month

Who doesn’t love a nice Robin Hood-ish type story. Genshiro Kawamoto, a Japanese billionaire, has decided to rent out 8 of his luxury waterfront homes on the Hawaii Island of Oahu for 150 dollars a month to low income families.

From the Guardian Unlimited:

The low-income families could move into the furnished Kahala Avenue homes, purchased in 2005 for up to $3.4m each, as soon as this weekend. “They will be living in heaven now,â€? said Genshiro Kawamoto, 75, a real estate tycoon. Among Mr Kawamoto’s four rental homes is one with five bedrooms. The 603 square metre (6,489 sq ft) home was built in 1989 and is more than three times bigger than the average house on Oahu. Mr Kawamoto bought it in August 2005 for $3.4m. Read the rest of the article…

Some of is neighbors are not pleased with the new folks that will be inhabiting the area. So there is a slight difference, in that he is not robbing from the rich to give to the poor. He is simply pissing the rich off by help out the less fortunate.

[ via RealEstateBloggers ]