Hello! My name is Stephen! I renovated my van to live in and moved to Alaska 1 year ago with aspirations to buy rental property to fuel my traveling lifestyle. I have cleared out 23k credit card debt last year and now I am building up my down payment for my first rental property.
For the folks that own 4 plex's in anchorage can you break down your costs for a month and who pays for what. (tenant pays or owner pays)
Most four Plexes are only going to have separately metered electric. You’ll still have $35-$60 a month for the house meter. A good running building will have five to $700 a month in total utilities. I have a larger building in a less attractive part of town with a really old boiler and my expenses every month on that building average about $1000. I also have a couple tenants where I pay for their electric on that building. Send me a direct message￼ if you’d like to chat more in depth over a call.
Utilities - most common is tenants pay electric - possibly trash. Landlord pays natural gas ($200-250 a month average), water/sewer ($200 a month average or less - depends on metering setup).
Snow/Lawn - depending on building style - but a 4plex - common for landlord to pay it. I have a triplex that the tenants do their own snow because they all three have private drives/parking setups - but I cover lawn-care ($100 a month May 15-Oct 1st).
Real estate is nuanced enough - you need to get some analysis going on different properties to see the range in expenses. Best thing is to find higher than average income in a B or better area - with an efficient heating envelope and where tenants can cover electric.