All Forum Posts by: Matt Slykhuis

@Michael Owens  Welcome to BP! If you stick around, you will learn more about real estate investing than you ever knew existed. If you're like me, you don't even know what you don't know!

I highly recommend you set up your keyword alerts - that's how I found your post!

Now to answer your question. I have seen it posted here and it's worth repeating: If you find good, quality, off-market deals, you will have no problem finding a buyer. How do I know? I am a buyer in the Fairbanks and North Pole area. That was easy, huh?

The issue is always going to be finding quality deals. I am new to investing myself, so I am going to want a big larger safety margin than most investors. I also think Alaska lends itself to a lot of "uh-ohs" and I want to manage my risk by adding in a little extra cushion. 

Specifically, I am looking for SFRs or duplexes to rehab with an ARV of less than $200k. I will pay no more than 70% of ARV minus accurate repair values (which are significantly higher in Alaska than the lower 48!). I will only buy in an area I would live in with my family, but if it meets my criteria I will buy with cash. I can give you more details on what I am looking for but rest assured -- if you find something off-market that has enough meat on it, I will buy it.

@Andrew Herrig Thanks so much for creating this thread! It is very encouraging as I will be starting next year to do basically the same thing -- a couple flips, maybe a buy and hold or two, and then wholesale whatever I get that I can't or don't want to pursue myself. 

Monitoring.

Welcome to BP! Also, thank you for so many years of dedicated service. That is truly impressive.

I would recommend setting up keyword alerts for your account so that you will get notified once someone posts about things of interest to you. That's how I got clued into your post -- I have an alert set up for "Army." I'm active duty myself, going on 7 years now!

Take care and I wish you the best as you transition to your new retirement life.

@Andy Hailey  Did you hear back on the offer?

I submitted an offer last week on a VA foreclosure that would be my first flip as well -- although I plan to live in the house while I'm stationed in Alaska and flip it after -- but I have not heard back. Apparently there are 4 offers pending, and even though mine is a cash offer I doubt they will accept it since I also offered conservatively.

Hope you get it!

@Craig Norris  Welcome to BP! How did you find us?

Be sure to set up keyword alerts for yourself -- that's how I found this post, you mentioned Alaska! 

Thanks for your USCG service, and congrats on your recent degree as well. Are you working and doing REI on the side or do you plan to dive in full-time to real estate?

Take care!

Welcome to BP! I was stationed at Ft Hood a few years back. I was not a real estate investor at the time, but it would be a great place to get started! You are close enough to Austin if you want to try to invest there, but also have a decent rental market in and around the Killeen area.

Have you thought about what your goals are in real estate? Are you interested in flipping houses or buy and hold? Or maybe wholesaling?

Be sure to set up keyword alerts -- that's how I saw your post!

Take care and let me know if I can be of any help (I'm just getting started as well).

I guess my mentions didn't work on that post and I can't get them working while editing...try this again!

@Devan M.  @Dmitriy Fomichenko @Adam Moehn @Brandon Turner @Noel Walton @Elizabeth Colegrove 

@Devan M. Thanks for the link to the reading material! You're right, it's an interesting job I have...some days I remember how great I have it!

@Dmitriy Fomichenko Thanks for the quick tips!

@Adam Moehn I'm originally from Cedar Falls. Right up the road from you. Wish I was still in the area -- it would be a great place to invest.

@Brandon Turner Just set up my key words, thanks! Also thanks for all your work on the podcasts...you and @Joshua Dorkin are helping so many people with those.

@Noel Walton Wish my family was headed to Hawaii instead of Alaska! I'm sure that's been a great experience. I'm excited for episode 23 now -- thanks for the feedback!

@Elizabeth C. Sounds like you guys are off to a great start! At the rate you're going you should be able to retire with no problem when your husband is eligible. I think the single most important factor is managing your lifestyle...the temptation will be there to spend everything you guys earn, but if you live frugally now you can reap huge benefits down the road!

Thanks everyone for the feedback and welcoming me. I'm excited for this new venture.

Hey all. I'm a newbie looking to start investing in real estate in the Fairbanks, Alaska area some time early next year. I have very little experience in real estate but have been learning a lot over the past few weeks and took a class in college about 8 years ago. I have listened to the first 20 BP podcasts (amazing!), have read about 1/3 of J Scott's flipping book, and will continue to listen to the podcasts and read over the next few months (and beyond).

I am originally from Iowa, but have spent the last 7 years on Active Duty (Army) in Alabama, central Texas, El Paso, and of course Afghanistan a couple times. I am a Blackhawk helicopter pilot and have a degree in mechanical engineering from Iowa State.

Real estate will just be a side investment for me, but I am looking to focus primarily on a buy and hold rental strategy. I plan to post my business plan in another thread, but my goal will be to create positive cashflow on a passive basis that will give me the option to completely retire when I hit 20 years of military service. I will attempt to use my "frequent mover" status to my advantage and purchase investment properties at each duty station.

What I am looking for at BP:
1) I would love to have guidance along the way, but I understand that I’m a newbie without any credibility at this point.
2) A group of people to provide encouragement but also hold me accountable.
3) Continued education. I have already learned SO much in just a few weeks.

Thanks for checking out my thread!