All Forum Posts by: Roy Schauer

@Alberto Urena depends. It's not a bad idea. But is it the best one for what your looking to do? Are you planning on owner occupying the 4-plex or putting 20% down as an investment property. Ideally, if you don't mind living in an apartment for a little while, I'd buy two 4-plex's, put 20% down and owner occupy the other with 3.5% down unless you have access to VA or HUD 184. That way you get 8 units for about the same money as a single family and the four plex.

Roy 

@Alberto Urena investing outside of Alaska can be very lucrative but also depends on having a good team in your corner watching your backside. A mismanaged property can quickly bury you if you let it.  

That said, I know several investors that do invest out of their local area. Military investor are well known to buy at their duty base.

Roy

Hi @Alberto Urena is correct. However the local REI group is called REX (Real Estate eXchange), because we already have the REI outdoor sportswear store off Northern Lights Blvd. here is the link: www.meetup.com/r_e_x_

I see several options for you but it depends on your comfort level, risk level, long term goals, etc. Some come to one of our meetings and talk to other investors and see what direction appeals to you most.

Roy Schauer

WWW.AKCPS.COM

@Kevin E. The Turpin area is considered much better than MV. Especially the Whispering woods subdivision because it especially caters to military.

The best accuracy is the NOD, Notice of Default, posting at the courthouse usually. Zillow is known to have some inaccuracies.

Here in Alaska, they are auctioned at the courthouse. If no one bids or the bid isn't more than the minimum, the bank takes the property back. Look up Michigan law on how foreclosures are handled. Each state is different.

Hi @Connor Dunham!

Let me know if you get another group together. Or even an informal get together. I always love to see what others are doing.

Roy

@Jason Dowdy  here is the link to the online meetup group that also shows the schedules. You may have just missed the valley meeting for this month as it was last night.  http://www.meetup.com/R_e_x_

@Nathan Hickman welcome to BP! There is a REX meeting this coming Tuesday at the Fairview Recreation Center at 630pm. It will be on taxes and tax law changes that effect investors and real estate owners.  For more info go to: www.meetup.com/R_E_X

@Scott Sewell is right about finding good contractors and treating them good.  So far I've had really good contact with Samantha Buchite at Stewart Title. She's great dealing with hiccups and follow-up on details.  If you get a chance to talk with @Kassandra T. , their company deals with a lot of different vendors and she could recommend several. Plus they also manage properties and even handle evictions and tenant screening for property owners that are not comfortable doing those aspects.

@Ben Vandorn welcome to BiggerPockets!  Have you been to any of the local REX or other investment group meetings? A lot of local people have some good practical knowledge working in the multifamily landlord arena.  @Kassandra T.  And her husband have a local property management company that is investor friendly.  They have bought and managed their own properties as well as doing it for others.  Take care and hope to talk to you in the future!  Stay warm! ;-)