All Forum Posts by: Sean Davis

@Allen S. I think you are right.  Casting a wide net would be beneficial for me.  Can you recommend any resources to start evaluating other regions?  I don't know where to start other than reading Bigger pockets posts and searching on Zillow - seems inefficient.

@Chris S. I don't even have enough internet to monitor Security Cameras.  Also, I'm not looking for a second full time job.

@Allen S. I was on my way to Anchorage for closing when the deal collapsed.  This money is burning a hole in my pocket!

Happy Super Bowl Sunday!  I'm not a sportsball fan, but I'll take any reason to celebrate in the current climate.

I am new to investing, and apparently new to the internet, I posted my last introduction post in Real Estate News and Current Events.  Even so, the community here was helpful and welcoming.  I was almost closed on a property, but thanks to a lot of sage advice, I pulled out at the 11th hour.  I'm still hungry to get into the market.

I am a dentist practicing in bush Alaska. Because of this I am necessarily interested in long distance investing.  I understand that this will necessitate working with property managers, but I am hoping that I can build a good team for mutual benefit.  

I can not find a property that fits the 1% rule.  I feel like I need a different approach to analyze properties.  I'd love any resources or advice that anyone could offer.  I am also interested in finding ways to maximize my tax benefits with real estate.

Thanks very much for reading!  I hope that I can contribute to the community here!

Hi Everyone,

I pulled out of the Mountain View property at the 11th hour.  The owners kept providing disclosures that were not adding up and new information about the property kept making it feel less and less like an investment that would work for me.  I appreciate all of the feedback that everyone here has given me, thank you all for being so knowledgeable and supportive.  I am keeping an eye on the listings daily and still trying to break into the market.  I feel that I have learned a lot about the process to apply to my next venture and am glad to have the community here.

Thank you again! 

@Allen S. The property is in mountain view.  I have been warned that it presents challenges.  I drive the neighborhood and I do like the street that I'm on, but recognize the climate of the neighborhood is... Disreputable.  I was told that I'd have to put 25% down, it being an investment property.  That puts me in for about $100k.  

@Jamie Rose - I am nervous investing in a lower rent area.  I've been following the market for months and consulting with an agent in town, this property is the best one I've found on paper by a wide margin.  It's my first investment purchase, first time working with this realtor, remote, but I remain optimistic.  

I don't love the anticipated cash flow, and will be constantly looking for ways to cut costs and increase revenues.  I don't know that the market can support much higher rent for these particular units at this time, though.  Current rents are $850-900 on a 2bed/1bath.

If anyone has any insights into Mountain View rentals, I'd love to connect with them.

Hi @Allen S..  I live in Bethel, but am travelling to Tununak... weather permitting.  

I'd be very interested in seeing if there is any way that I can reduce my expenditures on utilities... that seems to be killing me.  The property management is also expensive, I've heard some rumblings about the group that is currently running the property, but I don't have any other contacts and I am cautious to rock the boat right away.

What sort of additional information would be helpful?

There was an error when submitting... I was trying to post this to the Multifamily Forum... Maybe I can contact an admin to get it changed.

Greetings Compatriots!

This is my first post, my first purchase, my first foray into real estate investing.

AND I AM TERRIFIED EXCITED!!!

I would love to hear any input from the sages here and become an active member of the community. My goals with investing are to create a 6 figure cash flow after all expenses (including mortgage, insurance, vacancy, etc).

I live in a remote village in the Bush of Alaska. I do not know if I will be here long term and there are numerous complexities in attempting to acquire and maintain property here, so I've decided to invest remotely. Because of this, I feel that I need to utilize a property manager.

I am purchasing a 4-plex in Anchorage, Alaska. I would rate the neighborhood as C, it reminds me of the places that I lived in college. The list price was $350,000 we negotiated down to $330,000 (This should satisfy the 1% rule, I am still trying to get a good enough feel for the numbers to not utilize this as a crutch). There is some CapEx that I'll need to put in come Summer, but nothing structural or safety related. The inspector said, "I would buy this property."

I utilized a spreadsheet from Roofstock to help organize the numbers. I am hoping that I’m being sufficiently conservative, but I am hoping that I can realize more cash flow than this for such a substantial outlay of cash.

I’d love to hear your thoughts and I am hoping to improve my ability to analyze and execute on increasingly profitable deals.

Thank you for reading!