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All Forum Posts by: Roy Schauer

Roy Schauer has started 1 posts and replied 111 times.

Post: Anchorage Alaska RE Economy

Roy SchauerPosted
  • Problem Solver / Investor
  • Anchorage, AK
  • Posts 118
  • Votes 34
Hi James and Vincent!  I'm currently boots on the ground in Wasilla and Palmer area, and after working in Anchorage, definitely seeing more opportunity in the Valley but in the realm that James Cash is mentioning. Currently finishing a fix/flip that was a HUD foreclosure, bought at $210k, tax assessed at $350k.  Also control another property that my crew is using as a staging house, since most of my guys are from Anchorage and helps keep the driving and travel expenses down, that was a pre-foreclosure home. I'm looking at a commercial property that is willing to be owner financed because in its current shape it won't meet traditional financing for normal buyers, I'm closing on a 6-plex in the next week that cash flows crazy but has major septic issues. And has scared off most other people. Making it possible to get a tax assessed $525k property at $320k. Also currently have two other leads, one is pre-foreclosure and the other needs repairs due to not qualifying for traditional financing. 
i guess what I'm saying is that there is a lot of potential out there, but you can't use traditional methods to find it or make it yield the type of returns your really looking for.



Originally posted by @James Cash:

@Vincent Calderone Welcome to BP! This is an awesome community for like minded individuals.

I always tell new to investing clients that the right time to buy for you is the right time to buy. No one can time the market...almost no one. Typically, if everything is saying the same thing, the market doesn't tend to shift that way.

That said, I might not go new construction in the valley right now, but might go on the fixer upper side of things. This leaves some value-add investing for you, and wiggle room on rents and equity so you're not strapped if the economy does take a turn. The best thing you can do is prepare yourself for the worst case scenario.

Post: Investor in Alaska

Roy SchauerPosted
  • Problem Solver / Investor
  • Anchorage, AK
  • Posts 118
  • Votes 34

@James Cash long time no talk to! Back in the game and rockin it hard. Closing on a 6-plex in Wasilla right now. We should talk soon about REX.

@Tully LaBelle-Hamerwelcome to the BP crowd. For some good experience with multi-family, Scott Sewell owns several and manages them himself. Has a lot of real world experience. For a good property management perspective talk to Erik and Kassandra over at RPM Last Frontier. They are now officially over 400 units in under 4 years. That's pretty impressive!  Don't be shy and just let people know when you need feedback!

Post: New member currently stationed in Alaska

Roy SchauerPosted
  • Problem Solver / Investor
  • Anchorage, AK
  • Posts 118
  • Votes 34

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.

Post: Looking to get started in RE here in Alaska

Roy SchauerPosted
  • Problem Solver / Investor
  • Anchorage, AK
  • Posts 118
  • Votes 34

are you any relation to James Cash?

It's hard to recommend what's best for you because it depends on your knowledge, skills and talents. Have you don't DIY or construction work before? Are you outgoing? No matter what you choose, you will be learning constantly.

Post: Second Week Door Knocking - Results and Revision of Plan

Roy SchauerPosted
  • Problem Solver / Investor
  • Anchorage, AK
  • Posts 118
  • Votes 34
I work with pr-foreclosures a lot. They are public record, so find out where they have to be published. The courthouse is usually one, but not the most efficient method. We have a local Journal of Commerce that publishes them. For the western states, WWW.USA-FORECLOSURE.COM is a free service that allows you to set up area notifications.  Another good service, but it's a pay site, is WWW.FORECLOSURES.COM.  They allow you to set up search perimeters so that you can get an email every time a new property is added that meets your criteria. I have mine setup for my area to alert me for any properties with at least 20% equity, under $400k.  Saves me a lot of time searching and now I spend that time qualifying and making contact.

 Also setup bird dogs, people who would either need money, or are constantly out in the neighborhoods and come in contact with these houses. I have a stay at home mom that I've shown how to look for properties and what makes it a good deal in my eyes. Also I have a guy that works for the local gas company who does the turn offs for properties.  When he sees a house that's vacant, or been neglected, and has to turn off the gas, he sends me the address. I give it to my stay at home mom to research and give me what she finds and I do the contact from there. If I get it under contract, whoever was involved gets $500 each. But I've spent the time to show them what I'm looking for and given them the tools to do it.  

I've also partnered up with realtors and the local real estate investment group to let me know when they see deals. I either let them stay involved, ie realtors to make their commission, or I pay them a wholesale (finders) fee. A lot of times, beginning investors will be able to find a deal, they just don't know where to go from there. So I do a mini-mentoring program to show them how I research and make contact. I know have a decent reputation in the realtor community of being able to help them sell properties that are problem children for them and they can't get rid of. Typically the 90-120 days on market.  

I hope these ideas help.  There are a lot of people out there that would love to partner up and learn how to make better money.  If nothing else, put together a small investor network to help partner up on deals. I've now got so many coming through that I can't handle them all so I pick the one's I really like, and on the others I either partner up with other investors to leverage their time and my knowledge, or I wholesale them to experienced investors. There are really just too many possible deals out there right now. And with the economy doing what it is, I think there will be even more opportunities.



Originally posted by @John Hyatt:
Originally posted by @Robert Davidson:

Two sources for foreclosure leads are RealtyTrac and Property Radar.  Both are subscription but IMO very reasonable.  You're wasting a lot of time with Zillow and checking tax records.

It's irrelevant if the house in foreclosure is owner occupied or occupied by a renter (maybe not paying rent.)  You may have a couple of hoops to jump through on non-owner occupied but check your state foreclosure laws with an attorney.  Paying for an hour or two consultation with a real estate attorney will be well worth it.   In California if a tenant is occupying a foreclosure they have to be given 60 days notice to vacate.

Thank you Robert! I agree, Zillow has been getting me on a lot of dead ends...also very time consuming!

Post: How to alk to homeowners in preforeclosures

Roy SchauerPosted
  • Problem Solver / Investor
  • Anchorage, AK
  • Posts 118
  • Votes 34

@Anthony Kondor your road is paved with good intentions, and from your perspective, why wouldn't the home owner want help, want some money in their pocket, relieve the stress, deal with you to make their life easier.  Your assuming they are being rational. Typically if they are in foreclosure, there is probably a lot more going on behind the scenes that your not seeing. Death in the family, divorce, job loss, etc...compound that with the deluge of creditors calling and mailing, not to mention the investors and realtors just wanting to help them in their moment of need and you start to kind of understand the people your going to be working with. 

They are highly sensitized, bordering on paranoid, overwhelmed, stressed to the max and most have shut down and are burying their heads in the sand waiting for it to get better or fix itself.  Most people do not choose to live this way, it's a series of circumstances that has created it, whether by poor choices, life in general, random acts of god, or a combination of all of these. 

Generally, there is a consistent lack of knowledge across the board.  They just don't know what to do, where to start anymore because it's just all so much to deal with.  I myself prequalify potential deals. I don't do mass mailing, I do targeted marketing to individuals who meet my criteria that I think with 90% certainty our company could help them. Being sincere and knowing when to stop talking and just listen is an invaluable trait. Once they do start telling you their story, your gonna get more than you bargained for because you just became their therapist in a way. They probably have been hiding what they have been going through from friends and family due to the shame and stigmatism that's attached to it all,  I have a fellow investor who is a realtor who's family owned a construction company. Things happened, work slowed, there was an accident that cost them too much money and then my friend was telling me his parents called the whole family together to let them know the bank notified them of their 30-day vacate because their property had been sold at the courthouse auction. The rest of the family knew nothing about this until that moment even though it takes about 6 months to foreclose on a property in our area.

I hope this gives some insight into what your looking to work with. Put yourself in that position and think about what approach would work to get your attention or make them want to deal with you versus all the rest of the work trying to get their attention.

Post: RE Advisor Recommendations for South Central Alaska

Roy SchauerPosted
  • Problem Solver / Investor
  • Anchorage, AK
  • Posts 118
  • Votes 34

FYI, our company currently controls 15 properties. Of those, none are through a bank and two are with hard money lenders. The rest has been acquired with private lenders and creative financing. Just saying there are other ways to handle real estate than through the bank. The only reason I let banks get involved are for helping the private lenders set up HELOC's to fund our deals.

Post: What should I do

Roy SchauerPosted
  • Problem Solver / Investor
  • Anchorage, AK
  • Posts 118
  • Votes 34

@Alberto Urena may have some suggestions for you. Can you message me for contact info?Have a 4-plex we are rehabbing, not on the market yet, currently fully rented, we are cycling the bad tenant and just increased rents on two others. And it's already under property management for the tenant portion. We are currently taking care of the property fixes.

Post: RE Advisor Recommendations for South Central Alaska

Roy SchauerPosted
  • Problem Solver / Investor
  • Anchorage, AK
  • Posts 118
  • Votes 34

I do not know if they've worked together. Ron handles mainly real estate transaction, not so much entity creation. Clayton has more going on in that arena. There are a couple more attorneys you might want to research for because they specifically focus on asset protection. I misunderstood and thought you were looking for an attorney that dealt with real estate documents and transactions.

Post: RE Advisor Recommendations for South Central Alaska

Roy SchauerPosted
  • Problem Solver / Investor
  • Anchorage, AK
  • Posts 118
  • Votes 34

@Tyson Cox Two I recommend are Ronald Baird and Clayton Walker.