Investor · North Pole, AK · Member since 2017 · 22 posts · 19 votes
4y
Hello John We have a very active real estate group up her in Fairbanks. We meet once a month on Fridays at 6:00. Message me and I’ll tell you about our schedule.
Missoula, MT · Member since 2013 · 7 posts · 4 votes
12y
Greetings,
I am up here in Fairbanks trying to get started. I am stationed here at Wainwright and am really digging the area and all Alaska has to offer. Where are you at and what type of investing are you looking at? Give me a holler and maybe we can start a legit BP chapter in the Great White North!
Real Estate Investor · Kenai, AK · Member since 2014 · 18 posts · 1 vote
12y
Hi Keenan Fitzpatrick , my husband and I are getting started down here in Kenai. We are buying our first four plex this summer and plan on buying another in 3 yrs.
Are there any REI meetings coming up in Alaska?
Fourplex Investor · Hyder, AK · Member since 2014 · 9 posts · 5 votes
12y
Another Alaskan saying hello. :) Quite a distance from Anchorage. Even quite a distance from Ketchikan. I'm happy to see some other Alaskans here on BP. I'm landlording in Hyder. (Southeast Alaska.)
Make sure you learn about the landlord laws here. They are statutory laws - meaning up to the judge at the time of ruling, even it you are technically right which the written section of the laws. I had to try a person three times and the judge still didn't kick them out while still behind in rent and all repairs finished and unfounded. :)
Fourplex Investor · Hyder, AK · Member since 2014 · 9 posts · 5 votes
12y
Wow @Kassandra T. Thanks for the tip. Of course I've read and applied the info from the Landlord/Tenant guide for AK, but it wasn't clear to me that the judge could have so much discretion.
Do you know why you had such trouble convincing the judge to evict in that situation? Winter/Harsh Environment/Disabled person/Vet??
Real Estate Investor · Kenai, AK · Member since 2014 · 18 posts · 1 vote
12y
@Christopher Templin , we live in Kenai and are in the process of buying our first 4 plex. Everyone is talking about the "boom" that is suppose to happen in my neck of the woods in the next 5 yrs, so we thought it was as good a time as any to start investing.
Lady had 5 kids in a two bedroom with only a part time job and on state money to pay rent. If eviction happened, she would be homeless and never can get state funds again. But she couldn't afford her partial rent and destroyed the place - $12k in damages alone.
Anchorage, AK · Member since 2013 · 15 posts · 5 votes
12y
The class is $450. I'm not saying it isn't worth it cuz you will learn but it's not necessary. You will meet a lot of people that will help you and work with you.
Eagle River, AK · Member since 2014 · 2 posts · 0 votes
11y
Hi Alaskans,
My wife and I are just starting out in RE investing. I'd like for it to be an income source in retirement. We're in Eagle River. Looking forward to meeting some folks at the Meet Up on Thursday. I see some familiar names in this string.
Problem Solver / Investor · Anchorage, AK · Member since 2012 · 118 posts · 34 votes
11y
@Jason Dowdy here is the link to the online meetup group that also shows the schedules. You may have just missed the valley meeting for this month as it was last night. http://www.meetup.com/R_e_x_
Rental Property Investor · Soldotna, AK · Member since 2014 · 72 posts · 28 votes
11y
My wife and I invest in the Kenai and Soldotna area. We have been actively investing since 2006. We have several properties and would love to discuss RE with like minded folks. If anyone is interested in a Kenai Peninsula meetup, please let me know. I would to try and set something up before summer because, as you Kenai folks know, there is no way it will happen during summer :)
Rental Property Investor · Soldotna, AK · Member since 2014 · 72 posts · 28 votes
11y
Yes, but have not been very successful yet. I plan to get people excited over the summer to have a meet up this fall. I don't know how good of a turnout we would have if not done by the end of the month. With summer, no one seems to be available at the same time. Any thoughts?
Rental Property Investor · Anchorage, AK · Member since 2013 · 50 posts · 8 votes
11y
Howdy all!
Its looking like I'll be a transplant from Tx to AK. Still waiting to know for sure and then it would still be a few months. The wife and I are looking to house hack while up there and purchase a duplex/tri/quad or what ever works within our budget.
Do you experience investors have any advice on Anchorage vs Eagle River or even as far out as Palmer or Wasilla?
From what I'm learning the law is more renter friendly than here in TX. Any advice or introductions are always appreciated. From the frying pan to the freezer and we can't wait!
Thanks yall
Drew
Problem Solver / Investor · Anchorage, AK · Member since 2012 · 118 posts · 34 votes
11y
Hi Drew, when you know more of your timeline, let me know. I currently working about 12 properties from Anchorage to Wasilla. Ranging from SFR to 4-plex. I'm also in negotiation on my first commercial property.
A lot depends on how much you want to commute. The distance doesn't seem that bad from Anchorage to Wasilla unless your fighting everyone else trying to go to work or home at the end of the day and one, or more, of the lanes shuts down and it ends up taking an hour and a half to get anywhere. What is your current price point? That can seriously change your available options since Alaska is so expensive to live.
We have a local investor group called REX, Real Estate eXchange. If your interested in getting a feel and to see the updates that are being sent to members, feel free to go to http://www.meetup.com/R_E_X_/
i look forward ward to hearing from you and have a great summer!
Its looking like I'll be a transplant from Tx to AK. Still waiting to know for sure and then it would still be a few months. The wife and I are looking to house hack while up there and purchase a duplex/tri/quad or what ever works within our budget.
Do you experience investors have any advice on Anchorage vs Eagle River or even as far out as Palmer or Wasilla?
From what I'm learning the law is more renter friendly than here in TX. Any advice or introductions are always appreciated. From the frying pan to the freezer and we can't wait!
Real Estate Broker · Anchorage, AK · Member since 2015 · 170 posts · 46 votes
11y
There's a lot of questions you should start asking yourself.
What type of financing will you be using? If FHA, go fourplex because your ROI on upfront investment will be amazing (unless you're in a great place to go conventional). Not to mention you can property ladder down into triplex/duplex/SFH at a later date.
What is your price point? Wasilla/Palmer are substantially cheaper, getting your more building and land, but the rents reflect that as they are not as high in Wasilla/Palmer (we call it the valley out there).
What is your taste in property? If you go FHA you have to owner occupy. If you are getting a loan out (whether FHA Or conventional) what can you afford? The multi-family market is competitive out here and prices are high. If you don't qualify for what you desire in taste, the valley may be more suitable (please note when investing you should go off of numbers always, not necessarily taste).
On that same topic, if you are going FHA or VA, and if you can, try not to out your significant other on the loan as that allows them to use their FHA/VA loan if they are financeable.
How long will you have that property? If you're buying and holding (which I recommend) either area would be a safe bet. They say you can never count on appreciation, but the margin for it in the future seems to be better out in the valley.