All Forum Posts by: Blake Elder

My wife and I update our balance sheet every month and have different growth goals that we track. It occurred to me today though that we very much use the accounting method for this and take the book value of each of our real estate holdings rather than the current market value. I understand that it would be cumbersome to do a market value on each property each month, but I was curious what others do for this. I know the net worth statement doesn't matter unless you are tracking growth, or wanting to qualify for different things etc. Do you guys update yours with the market value of your real estate each month, quarter, year etc.? It is a big difference over time, but I had never really thought about it before today. What do you guys do?

Hey @Jon Q., Yes Arctic man is absolutely the best. The pole and the river is me dipnetting for Salmon on the Chitina River. Salmon swim upstream each year and with the right license you can dip them out of the river and then have a freezer full of delicious salmon all year long. Yes I am investing in Alaska. I live in Wasilla Alaska, which is just north of Anchorage. I am a full time Real Estate Agent and my wife and I are slowly and surely building our investment portfolio!

@Jon Q. Good Idea. Here are some photos of the adventures that we enjoy! We live in Alaska and love to be outside. One of our favorite events every year is a snowmachine race called Arctic Man. It is awesome and we typically go up for 1 week and enjoy all of the riding, and the race itself is fun. That is the first few photos here. During the race the snowmachiner tows a skier and it is really fun. We also like going on other adventures like sky diving, traveling, going to the tropics, and the ability to enjoy fun things with our friends and family. We are very thankful for the adventures we have had so far, and know that by choosing to pour our resources into real estate investing now, we will be able to enjoy more of these types of adventures as time goes on!

I love this topic! So often we are so focussed on the "how" rather than the "why". As fired up as one can get about spreadsheets and ROI and good vendors, and awesome deals etc. it is refreshing to think about why we are doing this and stay focussed during the tough times, the boring times and the stressful times!

My wife and I bought our first investment properties in 2014. This was an owner occupied FHA fourplex and the neighboring mobile home. We currently live in one of the units, and are getting ready to move into a new construction fourplex that is currently being built. This will be FHA owner occupied as well. In the meantime, we were able to purchase another fourplex that we won't need to occupy.

Our short term goals are to have 20 units that we own by the year 2020. Unless something strange happens, by the end of 2016 we will have 15. Here is our goal progression list.

1. 6 months reserves for each building.

2. 20 units by 2020

3. Have our investments make more money than we do.

4. Continue working doing what we love and letting the investments grow and produce.

5. Have the resources available to help whenever and however we feel like.

We love to play and adventure. Having extra $ from our investments will enable us to go on the trips that we like to, enter into the opportunities that surround us, and give to whatever cause we want to. To be able to raise our children with an unlimited mindset and show them that success isn't always flashy and exciting, but what you can do with that success certainly can be flashy and exciting!

Here is to being an overnight success over the course of the next decade ;)

Great work @Nicholas Armstrong! So both of these are currently on the market? I will be interested to see what they sell for! Sometimes the ARV that is estimated doesn't always turn out to be what takes place. Looks like you have plenty of room and have done your homework, so nice job!

Hey guys, there is a valley investor club meeting that takes place once per month. I have been a few times. If you would like I can send you the email address of the gal that organizes it and you can get added to the invites. Just shoot me a message if you would like that info! 

Thanks for the help everyone!

Thanks @Mark Nolan, have you had good success funding deals with them? What types of investing do you do in your IRA with them? Thanks!

I agree with @James Cash to make a move when you are ready and don't try and time the market. As long as you are ok with the cashflow and it fits in your criteria then the fluctuations in price shouldn't be your main concern. My wife and I bought a 4-plex here in Wasilla in 2014, and are in contract on another one here in Wasilla that will close in September. Since we are in it for the cashflow and the long term, questions like "what if prices go down 10% next year?" or "aren't you worried about the higher price?" don't bother us as much. Markets go up and markets go down, and there is money to be made no matter what. I would encourage you to get serious on what your criteria and goals are, and as soon as that is done, a lot of the noise of the market will go away and the right deal will present itself.

Thanks everyone! @Jeremy Tillotson do you do buy and holds with MidAtlantic, or buying notes, or what is your standard deal?

@Dmitri Ivanovich- What is the best way to contact you for more info on Checkbook IRA?

Thanks everyone!