All Forum Posts by: Youdo Thirakul

I talked to some realtor and read up on it. It's pretty flat right now but that doesn't mean it's bad.  It just meant u have to find the good deals n be patient.  Houses will stay on the market for longer if prices high.  I'll be looking into rentals more unless I can get a good deal n sell a little below market n still walk away with a good profit

I just finishing listening to today podcast about getting private money using their ROTH IRA. Can anyone give me a little more info of how to do this? From what the podcast was saying there's a lot of upside, like tax free and compound interest. Is there any cons? I want to do a fix and flip on SFH and looking for ways to get private money, lending from someone ROTH IRA sound like it would benefit both me and the person. Would they take it out like a home loan, give it to me to put it on a promissory note, and once the house if flip, i would just sell it back to them? And can we do more then one ROTH IRA on one house? Sorry for all the questions, i just want to get as much info as i can since all this is new to me.

@Kyle J. Thanks for the info, sorry new at this. So much to learn still

@Account Closed Thanks. I got in touch with a different realtor (my friend refer), i told him what i wanted to do and it looks like he's more willing to help me find what i need to do n walk me thru some of the steps.  It does help to have a agent that understand your goals

I want to put in an offer for a property, it listed on MLS for 120k, want to put in an offer for 70k but my agents said I would need the fund in my bank first. If they accept the offer I would've been in contract. I don't have the whole 70k I figure I see if they would come down and if they do Then i would try to find some lenders and/or ask some of my buddy to invest with me . Also I would need to find the fund for rehab. So should I get the fund together first before making any offer on any deals or is this because it's going to an agent ? What am I missing?

@Jonathan White lot rent for the one that i used to live in right now is $480 and yes it does cover garbage and the snow removal is for the road, they won't do anything for you on the driveway/space.

@Wil Reichard thanks i will look into first thing tomorrow morning 

Does any have any experience in fix and flipping mobile home? I don't have a lot of capital but I'm looking to start back investing in real estate some how and mobile home seem to be the cheapest way. Right now I have a triplex and I'm house hacking which is cool, I want to start flipping SFH but no capital. Theres a lot of mobile park in Anchorage, Alaska so I was thinking about going around with my brother n putting up sign on there door about buying their mobile home. I don't really know how much their going for but i saw a nice one that was sold for 20k.

Here's my plan, go around putting up flyers and signs at these mobile home park. Buy them around 5-10k, I know a contractor that i can hire, if its not so bad i can have my dad to help me work on them since he works on houses around town, just small project though. So buy them around 5-10k, invest 1-6k (at most) and hope to flip them around 20-30k or more. I want to do this so i can gain some experiences and make some money before moving to SFH and beyond. I also want to start building a team, and with the experiences gain some partnership and investors. I want to start somewhere and this seem more logical at the moment. I grew up in a mobile home so i have some knowledge there.

My exist strategies are 

1. Buy and try to wholesale it but I don't know anyone really looking into mobile home

2. Buy, fix and flip it for profit

3. Buy, fix and hold it for cash flow, which won't be a lot but i should be able to get all my investment back within a year since rent in Alaska is crazy high.

4. Buy, fix and do a "rent to own" (i might have to talk to a lawyer if i want to do this). But this way I don't have to worry about fixing it up anymore and i can charge more since it going to spread out longer.  

Any suggestions, advices, comments, concerns will be helpful.  Thank you

thanks guys

Are you doing this yourself or using a contractor?  Have you analysis the deal and see if the number make sense?  From what info you posted, i think it should be a great deal for the right price, since everything is gutted out, electrical and plumbing is done, then that mean all you need to do is floor and wall and the 2nd floor minor work.  But again make sure the number is right, good neighbor, comp around the area and all those stuff.  Good luck.  I'm hoping to do my first flip here soon too.  

Hey guys, My name is Youdo Thirakul and I’m from Anchorage, Alaska. I found biggerpocket on a free ebook on amazon kindle and love everything about it, been listening to 1-2 podcast a day and just doing massive research on everything there is about real estate investment. I start real estate investment back in 2010, my brother and I bought a triplex and then I bought another one in 2013. I let my brother (who is now 27) manager it and it went downhill from there so I came back up to take care of the properties. I recently quit my job to help my dad with his business and I’m going full time with real estate investment. I don’t know actually what my goals in real estate are but at the moment I’m looking to get some fix and flip properties, any advice would be great. Hoping to network and keep learning and find some good friends. Thanks

I would also advice to stay away from C class areas, I lived in Sacramento for 8 years while i was going to college, have friends lived all over the area, so I know what area to avoid. Right now I live in Alaska and have two properties, a B (townhouse triplex)and C areas (triplex). I love my B area because I just sit on it, tenants are amazing, rent is paid on time, and they like to do all the work themselves because they just want to be left alone except when you pick up rent. My C ... well thats a different story, I'm thinking about just selling it because of so much problems and I don't have enough cash flow to cover it all, otherwise I might do the BRRRR strategy (just found out about it) if i can find some private lenders.

As your first property, i recommend a B unless you are planning to do the BRRRR strategy or something. How is the inventory in Sac? I'm thinking about moving back there to do some fix n flip. If that something you're looking to do there let me know.