Updated about 8 years ago on . Most recent reply
New Member from Anchorage, AK
Hello BP Community,
My name is Shawn Roys and I am new to real estate investing and (relatively) new to BiggerPockets.
My wife and I currently live in Orange, CA, but are moving to Anchorage, AK (I was born and raised in Anchorage) next year. The move is in an effort to accelerate our ability to save capital (see Set for Life by Scott Trench) as we will be living with my parents rent free (we are currently renting for $2,000/mo in Orange). Our financial objective is to diversify our income.
We are both physical therapists and we do not find it wise to have 100% of our income be reliant on being physically able to work (disability insurance can only provide so much comfort). We plan to achieve this goal by generating cash-flow through the buy and hold strategy, likely starting with a 4-plex in Anchorage using a FHA loan as an owner-occupant to begin house-hacking.
I have spent the last 8 months listening to all of the BP Podcasts, reading many of the recommendations made on the podcasts as well as within the forums and blogs. I have recently shifted my focus to reaching out to real estate agents and mortgage lenders in Anchorage to begin building my network and to become more familiar with the local rental market. If anyone has any insight or recommendations they are always welcome, thank you in advance.
Thank you all for your time, I look forward to working with the BP community.
Most Popular Reply
@Shawn Roys great idea to head back home and save some big time cash! Love Set for Life by @Scott Trench - my top book pick for 2017. I've been recommending it to all my friends.
I'm in the same boat as you though - looking for my first place, 4plex with an FHA loan. I've been watching the market for about a year or so now, and just saving and researching. The state is in a recession right now (though the medical/healthcare industry which you are in is doing great) so that means job loss and population decline. As a result, rents have come down & landlords have had to be more competitive here in Anchorage. Because of this market shift, at least from what I've been seeing on the MLS/Zillow etc, 4plex prices are coming down (great news for first time buyers). Come to the Real estate exchange club meetings, and Landlord's Almanac meetings when's you get to town.
I'll send you a PM on agent and lender info.