The Buyer Experience
Five Steps to Start Investing in Alaskan Multi-family Real Estate
How big is your dream? Do you intend to buy one or more investment properties?
Are you willing to live in a rental, possible several over the next 3-5 years?
On a scale of 1-10, how good are you at repairing house hold issues?
What is your biggest fear or reservation with owning a rental property?
How long do you intend to live in Alaska?
If you have a partner, spouse or another decision maker in the process you will want to make sure they are part of the consultation when you interview a potential Realtor. Since we’re talking about your financial future, don’t settle for anyone. Many people make the mistake of using an old family friend or someone they feel obligated to use because of a mutual or past relationship. You don’t owe anything to anyone except yourself. You deserve the best.
Your lender and Realtor should have a VERY close relationship. This is because they need to work together to structure a contract to purchase. Closing dates, pre-paids, credits, reserves, pro-rations, warranties and more all go into a contract and dictate the difference between a good buy and a phenomenal deal.
There is a BIG difference between banks and mortgage brokers. You may find that a Broker has more options than a bank and you may need to shop around to find the best deal.
A lender who understands income property will also understand how to “stack” loans. This is very important part of acquiring multiple properties. Loans are like tools in a tool box that should be used in a proper sequence on different kinds of real estate investment. Use the wrong kind of loan early on can make if very difficult for you to purchase another for years.
What is REX? REX (Real Estate Exchange) is a club whose purpose is to create a safe haven for real estate investors to network with like-minded individuals for the purposes of education, training and motivation. The REX philosophy is that we should not depend on others to secure our future. Instead, we depend on acquiring and sharing knowledge to create wealth through real estate investing. Our motto is “Don’t get sold, get educated”.
No new investor should try to go at it alone. REX is where new or even seasoned investors can meet other successful investors who live, breath and work in Alaska and find out what has worked and not worked with people who are doing it locally. Rex is a great way to start building your own connections and meet people passionate about real estate opportunities.
REX is over a thousand members strong! The meetings are FREE and you get to network with real investors making real money doing real deals in real estate in Alaska. Go to Alaskarex.com, or Call Kevin Cross, President of REX at 907-529-2289 for more information.