All Forum Posts by: Wade Stahle

Hey Gavin,

I funded the first one via a construction loan. 25% down of estimated build costs. After that ive had enough cash to just build on my own with some owner financed land.

I got the plans off ebay for $60 bucks ;)

Hey Iain, my costs here in Alaska to build are about $195,000 all in. Now thats everything, land, realtors, closing etc. 

If it were just sub-contractor and material costs, then thats about $145,000

Thanks Hans, yes I build in the Palmer area. City limits mainly. I was motivated by others massive action and finally went all in. Its scary the first time but then like falling out of bed after that.

Hi Henry,

I'd be happy to send send you my plans. PM me. 

For my first go around I got bids from almost every single contractor in the City. This enabled me to "build it right" because I quickly learned what were fair prices for things. Every duplex is the same so they are essentially spec homes. I know exactly what my costs will be and can buy land accordingly. 

They were built in Alaska, yes. My last duplex was 9 weeks and 2 days from the excavator hitting the dirt to cert. of occupancy in my hands. Very quick, but I literally leave no days open. There is always a contractor in there.

I've hesitated to post a success story and gone back and forth, but here I am typing.

I am 24 years old from Alaska and this year decided to get serious about real estate investing. I began the year by finally selling my live-in flip that I had lived in for two years. $35,000 tax free from that.

My next plan was to build a duplex to house hack. I did this and then realized how much equity I had in it from building it right. I sold it and made $64,000 including agent fees and and closing costs.

This spurred me on to get my residential endorsement and building licenses. I built another one, the exact same model and made the same amount of money, $65,000ish.

As people know on here once the snowball gets rolling its hard to stop, so I have started building my third and fourth duplex and have plans to purchase a lot sufficient enough in size for a triplex. I plan to have the third one sold by October (I can build from the ground up in 9 weeks.)

The plan is to reinvest all this cash into a large apartment building. I actually hope to build one.

this would be a primary residence

Thanks Mike, so is it at least safe to say i cpuld pull all my cash back out? I actually wouldn't want to pull out anything more than i had in it

Hi BP,

I am a licensed contractor here in Alaska looking to build myself a duplex with lots of sweat equity. Lets say I can build it all CASH for $100,000 and it appraises $200,000. If I wanted to refinance this into a loan (to preserve my liquid capital) would the bank lend the 75% of what I put into it or 75% of the appraised value??? If they lent on appraise value wouldnt I walk away with more cash in my pocket???

What is the best way to structure a contract to buy the land for this? Example, I have a seller with land and I want to build on that land as a builder but do not want to pay for that land until closing which the end buyer of the new construction would pay for.

Hi Brent,

What is wrong with having 2 FHA loans? Ive heard of many people doing this. We arent getting two at once. Rather one, then waiting 2 years till the next. There is absolutely nothing wrong with that.

As far as the sweat equity I would net about $60-70k off the FHA and none of the conventional.