All Forum Posts by: Scott Davidson

I'm military stationed in Anchorage, AK. I've Been looking for a house in the Phoenix area for the last 18 months and have lost out on approximately 12 deals. I know that buying in a hot market such as Phoenix, I'm at a total disadvantage due to not being boots on the ground there and not having a team assembled from the local area to rehab for a BRRR. I'm trying to stay positive and continue until I finally succeed on purchasing a place.

My wife and I are flying down next weekend for our second attempt being down there to really pursue this.  If anyone has tips/advice I'd greatly appreciate any assistance or coaching.  If anyone from the local market would be up for meeting up for coffee or anything, let me know.  Hell, if anyone has a wholesale I'd be open to that as well.

Scott Davidson

I've been presented with an offer in the panhandle of Florida and weighing my options.  

I found an off market house that would go for over $600K if it hits the market.  I have negotiated terms for owner financing to be $565K with 10% down, and two options for the terms are...

20 years at 5% for a payment of $3356/month

15 years at 4.5% for a payment of $3890/month

I would also need to cover the insurance and HOA ($1400/year or $117/month)

I have a rental that I make about $500/month in another state and I have a good amount of equity in that property. I have a HELOC on this property that I will use for the down payment. If needed, I could sell this property and easily pay down and reduce payments on the new property but I would prefer to keep both.

Through a friend, I already have 3 families interested in renting the new house for $3200/month.

I know this deal ultimately puts me in the red as far as monthly payments, but I'm looking at all options to make this work.  The house is surrounded by $1M+ houses and the area/market continues to grow.  

Does anyone with more experience have ideas on how to make the numbers work a little better?  Or am I just chasing this too much?

I'm currently looking at SFH in the Chicago area and would be very interested in finding a contractor to work with. If anyone has a solid recommendation I'd greatly appreciate the assistance.

Hello,

I'm also new to BP's and looking forward to getting started on my next venture.  I rental in the Tacoma, WA area that started out as my primary residence many years ago.  When I moved from that area 8 years ago, I started renting it out and managing it myself.  I'm now in the Wasilla area and looking to jump in and hopefully be able to swim rather than sink.  I'd love to hear some good and bad that people have experienced through their start up.

Scott Davidson

Hello,

I'm new here and been looking through the BP Forums for Alaska articles.  I'm interested to know how you guys are doing in your venture now that it's several years later.  If you have any recommendations, I'd love to read or listen to any hurdles you may have encountered.

Scott Davidson