New member currently stationed in Alaska

New member currently stationed in Alaska

Fort Richardson, AK · Member since 2016 · 3 posts · 2 votes

Hey everyone! I'm stoked I found this resource, this site is gold. In short, I was born and raised in California and joined the military in the year 2012 after 2 years of college. I am currently stationed in AK and will be getting out in 2017 to finish my bachelors degree at ASU. I have been very blessed to not have to pay for much thanks to the military. Due to this fortunate opportunity I have saved a small sum of money that sits in my bank with a depressingly-low dividend rate. I was introduced to real estate investing by a brilliant officer I met during my deployment in 2014-2015. He blew my mind with knowledge that was way above my head for about 5 hours. I was extremely interested in everything he was saying, although I didn't understand 50% of what he was saying, I nodded as if I did so he would continue preaching. He recommended the books "Rich dad poor dad" and "Cashflow Quadrant". I bought them and read through them thoroughly. I am in the middle of "The book on Rental Property Investing" by Brandon Turner. I love how it's broken down barney-style. I am absolutely terrified to buy my first property, but am eager to learn and understand mistakes will be made which goes hand-in-hand with growing.

The only real estate properties I've bought are in Monopoly.

I've always been very family-oriented, which is ironic that I felt drawn to the military... which is probably the least family-orientated occupation offered in America. My goals are to achieve enough cash flow to be able to make my own schedule and spend time with my family. My parents were always able to make it to my sport games, and I would like to be able to do that for my future children as well. I would also like to be able to take a small vacation once a year with the wife/ family.

I'm just a sponge trying to soak it all up. I own a GoPro and enjoy making small video edits. I live in the Anchorage area, so if anyone needed some footage of a nearby home I'd love to help in exchange for some knowledge. 

Cheers,

Shane

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Scott SewellPro Member
Investor · Anchorage AK and Hampton, VA · Member since 2012 · 140 posts · 82 votes
10y

Welcome Shane,

I agree about the value of this site. Although I might argue that it's more platinum than gold. 

Seriously, I learned as much here in one year of reading and interacting as I did in 5 years of doing it myself (with my wife, that is).

Again welcome, and check out the REX (Real Estate Exchange) meetings on "Meet up", I believe there's one coming up next week.

Good Luck! and good investments to all!

Scott

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  • Scott SewellPro Member
    Investor · Anchorage AK and Hampton, VA · Member since 2012 · 140 posts · 82 votes
    10y

    Welcome Shane,

    I agree about the value of this site. Although I might argue that it's more platinum than gold. 

    Seriously, I learned as much here in one year of reading and interacting as I did in 5 years of doing it myself (with my wife, that is).

    Again welcome, and check out the REX (Real Estate Exchange) meetings on "Meet up", I believe there's one coming up next week.

    Good Luck! and good investments to all!

    Scott

  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    10y

    Hey @Shane Miller thanks for introducing yourself and welcome to BiggerPockets! I'm glad you're reading the book. Feel free to jump in the forums if you need any help in regards to buying your first property. The first time is always memorable. :)

  • Fort Richardson, AK · Member since 2016 · 3 posts · 2 votes
    10y

    Hey @Scott Sewell, appreciate the warm welcome. I would agree, this is site is platinum, not gold. Wow, that's incredible; I've always been one to think you learn more from doing things hands-on. I hope I'm able to absorb 5 years of hands-on knowledge in the upcoming year. Thank you for the reference to REX. I did check it out and you are correct, there is a meet-up coming soon, however I will be training for a month long in another state. I signed up and look forward to the meeting in the month of march! Do you attend this meetings? Have you found much success buying property here in Alaska?

    @Brandon Turner, You are a legend in my book. Keep up the great work! I will definitely not be shy in the forums, you'll see me around.

    And again, anytime past mid march if either of you(or anyone else who is reading this) would like footage of a house in anchorage let me know. I'd love to help out and get my feet wet (Figuratively speaking of course, I'm going to be getting enough of that during these next 5 weeks).

    Cheers,

    Shane 

  • Problem Solver / Investor · Anchorage, AK · Member since 2012 · 118 posts · 34 votes
    10y

    hey Scott Sewell! There is a REX meeting at the BP Energy Center at 6:30pm on this coming Tuesday.  

    Welcome to the site and I recommend just reaching out to the community.  Start building those relationships. Don't be afraid to ask questions or think outside the box.

  • Handyman · Belleville, MI · Member since 2016 · 13 posts · 6 votes
    10y
    Welcome to the site and thank you for your service.
  • Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
    10y

    @Shane Miller

    Welcome. Thanks for your service. Fill in the foundation below.

    Check out the Start Here page http://www.biggerpockets.com/starthere

    Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

    Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 100 past ones to catch up on.

    Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). Find them through Google and meetup.com

    Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

    Consider checking out HUD homes for small multi's owner occupied gets first crack.

    Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

    http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

    Good Luck

    Paul 

  • Real Estate Broker · Anchorage, AK · Member since 2015 · 170 posts · 46 votes
    10y

    Welcome @Shane Miller! The Kiyosaki books are great for instilling the mind of an investor and helping you to see you shouldn't sit passively by to build your wealth, but act on smart moves.


    If you ever have any questions about Alaska RE let me know, and as Roy mentioned the REX meetings are a great place to meet like minded individuals.

    Welcome!

  • Fort Richardson, AK · Member since 2016 · 3 posts · 2 votes
    10y

    Hey @Roy Schauer, appreciate the welcome. I'll be back mid march, so I should be able to go to the meeting later that month. Look forward to meeting you.

    @David Behrendt Thank you!

    @Paul Timmins, Thank you for taking the time to write your very informative post! Those are some excellent links and recommendations. It's very much appreciated.

    @James Cash, I completely agree, the Kiyosaki books helped give me a much better grasp on investing and looking past the paycheck of a job. Will do, thank you!

    Cheers, 

    Shane

  • Scott SewellPro Member
    Investor · Anchorage AK and Hampton, VA · Member since 2012 · 140 posts · 82 votes
    10y

    @Shane Miller,

    I too, wish to thank you for your service. My son in law is getting ready to retire out of the 10th Cav. in CO.

    To answer your questions: First, I do attend the REX meetings whenever I can, not as often as I'd like. (kinda like chatting on BP) Second, my wife an I have been fortunate to find some good deals over the last 10 years and some ok ones, and (knock on wood) we haven't lost money on one yet. Don't get me wrong, we've done plenty of dumb things that cost us money but we've always had the resources built into the deal to handle it.

    Which leads me to my second point, @Paul Timmins gave you some great info, follow up when you can. I might also suggest "The Complete Guide to buying and selling Apartment Buildings" by Steve Berges, that one really opened my eyes.

    As to the one year/five year thing, it's definitely true. I realized as I got into BP and started interacting, that (in many areas) I was trying to reinvent the wheel! I'd encourage ANYONE to use this resource, it's inexhaustible, thanks to all the folks out there who've "been there, done that, and GOT THE T-SHIRT" to prove it!

    Good Luck. And Great investments to all!

    Scott

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