All Forum Posts by: Scott Davidson

I signed up how do you get to the bootcamp portion it’s paid for but is it a different website

@Devon Edwards - Tyler Cobb is leading a monthly REI meetup in Anchorage this Thursday - at 49th State Brewing Company -

I bought land and cabin rentals in Wasilla this year (not far from my parent's place and where I grew up) - I think it's a great long term hold. If you are watching it for the short term - next 3-6 months - my guess is there will be some better deals than there have been in the last 18 months. 

@Scott Davidson, You're not too late.  But you're in a real situation in a real market.  And you have to take what the market gives you.  Here's a blog we just wrote for BP on making a 1031 work in a sellers market - https://www.biggerpockets.com/...

It can be done.  But you have to be focused and realistic.  I went into the Sunrise FL Market in Late November looking for a house.  For two months prior to that and the 45 days of my search there were no houses in that inventory whose listing was more than two days old.  I wasn't a cash buyer, I wasn't prepared to offer the moon.  And I don't buy without finance and inspection contingencies.  At the end of January we closed on a great property.  We offered a small amount more than list and guaranteed $5K above appraisal if it didn't make appraisal.  We received our over offer back in concessions after inspection.  Those are some of the things other than what we wrote in the article that we did to make it happen.  And we're not the brightest candle on the cake.  Even in this market over 92% of our clients finish their 1031s with properties they like.  So it will be worth some effort on your part.

@Randall Alan, Totally understand your sentiment.  But for me it's using the tax dollars to compound as long as I can that works.  Exactly like my 401K.  And if I ever sell without a 1031 I'll pay all the back taxes as well.  But I gotta challenge what you said here, "...eventually sell, you may owe all your profits to taxes.".  No ,you will never pay all your profits to taxes.  No one ever went broke paying tax on profit.  You may have to use all of your net proceeds to pay the taxes if you don't sell right.  But that is only because you've refinanced at some or many times in the past.  And those refinances are nothing more than pulling out profit without a sale.  But for me I'll use the tax for my benefit as long as I can before I pay it.

Hey Scott,

I'm actually a agent and investor in Anchorage and I would be more than happy to get coffee and give you some advice on competing in a hot market!

@Scott Davidson

Try joining a FB real estate wholesale group for Phoenix. I've seen a few deals pop up there every now and then.

As for the Phoenix market as a whole, it's been bananas here for a good while now. If you've lost out on 12 deals, you need to assess the situation and find out what (besides money) is causing you to lose out on bidding wars. Usually there's a trend when you don't succeed at something despite multiple attempts.

Not everything is going for 50k over ask. You may have to pivot strategies and look for things that may need some work or have been on the market for over 30 or 60 days or look in a different part of town. 

If you have any other questions, feel free to ask.