Anybody from the Last Frontier?

[investinAK]

I am looking to network with some investors in the Great state of Alaska. Anybody on here from Alaska, besides our good buddy Dan!? Comeforth at this very moment. :)

[Dan Auito]

Well Ryan, you know I had to check in here, but come June 1 I'm on the ferry and on the road back to my real stomping grounds in Inverness Florida. My intention is to buy 100-200 homes over the next 15 years starting upon my return in July. We will be taking our two horses down the Alaskan Canadian highway and enjoying the scenery along the way before getting down to business once we hit the Florida state line.

Florida is loaded with Guru's and I will be visiting with most of them once I get settled in. I can always be reached here by PRIVATE MESSAGE so will always be in touch!

I hope everyone gives people updates using the new 50 states list topic blocks! :smiley5:

[investinAK]

Hey Dan! Yeah, I knew you were heading back for your stomping grounds. :) My wife and I had thought of moving to Florida (Kissimmee) as she would really like to work for Disney again. But we decided to move back to California instead, as we plan to split residency while we are young, because my family is all up here! I will always be on this site as long as I am investing--as long as it here! So we will always be in touch! :SM025:

[Jeff Harris]

Hey Ryan,
I'm a good friend of Dan's who's been getting a few impromptu investing seminars from him lately. I'm currently working on my real estate license since investing in Kodiak is going to be rough to say the least. I'll retire from the Coast Guard in a little over two years (probably) move back to FL and get down to it.
If you don't mind, I'd like to use you as a sounding board when I have a question. And for my part, if you need a fishing guide while in Kodiak, I'll be it!

-Jeff

[investinAK]

Hi Jeff! Great to meet you! :)

How did both you Florida guys end up in Alaska? Coast Guard, I presume? :)

Anyways, I will assist you the best I can in answering your questions...and I may just take you up on your offer!

I am really excited to have another fella from Alaska on here! :)


Ryan

[Jeff Harris]

Yeah, I met Dan while I was stationed in FL. I guess I've known him close to 15 years now and only just recently discovered what a wealth of knowledge he is concerning RE. I've been interested in RE for a long time but I just figured I'd have to wait until after the Guard to get anything going. Dan convinced me otherwise. I'm still going to get my RE license. I just have different goals now.

Talk to you later.
Have a great day!
-Jeff

[investinAK]

that's GREAT Jeff! By the way, I LOVE your avatar!!

Ryan

[Aldo]

Glad to see another join our family. There are a lot folks with a lot questions here and we can use all the help we can get.

One thing I wanted to comment on is your wanting to get a RE license. I'd advise against that. I'd agree with doing the work/study needed to get the license, but not actually getting the license. Being licensed restricts you to legal (and sometimes ethical) limits which could hamper your success as a RE investor.

[Dan Auito]

I'm working on him Aldo, but the man has notions of his own! :whistling

[skipclements]

Note skip had posted here and in my attempt to reply I subsequently deleted skips post, so your not crazy! Skip please use the edit feature and repost. Sorry my friend! Dan

Yep another one Skipper! Unless it was at the Alaska realtors convention otherwise I have not attended any meetings in anchorage, Don't worry Skip I'm dumping my Fl & Ak R.E Licenses in favor of full tilt investing, I've been doing both for 15 years. We will be returning back home to Inverness Florida (Waistband of the state, west central florida) Still investment opportunities here as it is just coming of age.
I have family in Hollywood/Lauderdale so maybe we can hook up, Let's discuss options upon my return on that note!
Great to meet you Skip, I look forward to meeting you both in the near future, we return in June! :SM042:

[Jeff Harris]

One thing I wanted to comment on is your wanting to get a RE license. I'd advise against that. I'd agree with doing the work/study needed to get the license, but not actually getting the license. Being licensed restricts you to legal (and sometimes ethical) limits which could hamper your success as a RE investor.

Thanks Aldo. Dan's been beating me over the head about that. I think it finally starting to sink in. Spousal unit still wants me to go for it "in case this investing thing doesn't work..." women...(just kidding.)
This probably isn't the right forum for this question but I need you guys to lay a little creative financing magic on me. I'm running the numbers on a place we're considering. Asking $175K. Borough website has it assessed for $149K. I might be able to pick it up for around 160-165K, maybe a little less. I figure my monthly payments on a loan would come to around $1200/month. So using a formula I found recently which says CFBT (cash flow before taxes) = GOI (annual rent - vacancies) minus Operating Expenses (20%) = NOI. NOI - Annual Debt services = CFBT. So, if we get, say, $1500/month rent, thats 18K/year minus 10% (vacancy) =16.2K, which gives me 12.9K NOI. Debt Service comes to $14400/year so it looks like I'd be upside down from the git-go. Am I doing this right or have i missed something?

Thanks for the help.
-Jeff