Anchorage, AK Market Networking

21 Replies | Anchorage, Alaska

Anchorage investors,

My name is Landon. I'm in the Army and am commissioning in a couple of weeks. After some training this summer, I'll be moving up to Anchorage for my first duty station as an active duty officer. I fully intend to invest throughout my military career and am looking forward to living in Anchorage! I know networking is often the most valuable thing you can do, so if you are an investor in Anchorage, please reach out! Feel free to comment with hello's, suggestions, and anything else someone moving up to Alaska should know!

I am originally from Utah and am used to a hot/competitive market. I was going to get something here in Utah before moving out of state, but it's just been too crazy for me to compete with as a first-time home buyer. I plan to house-hack a 2-4 unit multifamily as my first property, and by the looks of it, there's a lot of multifamily in Anchorage. There seems to be a lot of 4-plex's, but I'm sure some areas are better than others.

I would greatly appreciate any info/tips/tricks/suggestions/connections you have for me regarding Anchorage, JBER, and the surrounding area. Thanks all!

-Landon

@Landon Fillmore . Welcome to Alaska!

@Keenan Fitzpatrick and @Jamie Rose are the 4-plex specialists.   There are definitely parts of town you will want to be knowledgeable about before investing there:  Mt View... it works for some, but you need to know what you're getting into!  Fairview can be hit or miss but there are definitely some better options there.  The Valley (Palmer and Wasilla) also have some small multi-family options... talk to @Tyler Bobo or @Joseph Gugel in that market.

The two primary meetups in Anchorage are the Landlord's almanac put on my @Kassandra T. with RPM Property Management and REX hosted by @Kevin Cross .  In the Valley Tyler Bobo also runs a meetup ....   I think all three have gone virtual this past year, but hopefully they'll move back in person soon.   There's also a great group out of Fairbanks led by @Tim Illguth, but unless you end up moving to Ft Wainwright that might be less applicable.  It's a much different market up there.

Good Luck!

Thanks for the mention @Allen S.
Yes we are doing our first (in a while) meet up next Tuesday.  I never cared for the virtual one but the valley is more lax on the covid rules and now that vaccines are available for anyone over 16 who wants them in Alaska, I'm ready to start back up.  So anyone can reach out if they want on my mailer list, it's in person the 27th of this month, and I plan on having one every month.  Welcome to Alaska Landon!

@Tyler Bobo Thanks for the info. I'm not moving to Anchorage until December of this year, but my wife and I will likely take advantage of some cheap tickets this summer and come visit, get to know the area, and hopefully network a little further with some people in person. How much further North is Wasilla from Anchorage? Do you happen to know if people that are stationed at JBER are permitted to live that far up the road? 

Originally posted by @Bill William :

I'm curious how the market is. After this 160 spec home deal is finished we plan to move to wasilla to build a sub division.

Bill, where is the 160 spec home development you're talking about? Is that something you're involved in? 

Originally posted by @Landon Fillmore :
Originally posted by @Bill William:

I'm curious how the market is. After this 160 spec home deal is finished we plan to move to wasilla to build a sub division.

Bill, where is the 160 spec home development you're talking about? Is that something you're involved in? 

 Russellville arkansas. This is my project. We were having a hard time finding affordable lots to build on so I bought 45 acres and 39 lots of an existing sub division that was never finished. 

planning to finish the land development in phases. I'm primarily a spec home builder but now that I've wrapped up my first land development deal, I'll be doing more after this one!


@Landon Fillmore - Wasilla and Palmer are definitely within a normal commute distance to JBER and both are quite popular.    I would say that 50% of military families live in Eagle River/Chugiak, 25% in Anchorage itself, and the remaining 25% in Palmer/Wasilla...  Depending on where you are in the Valley, the drive to base is 45 min - 1 hour.   Obviously you can choose to live farther out.   We have property right off of Trunk road and it's 35-40 min to the Fort Rich gate (no traffic), which means at least an hour at normal drive times.   With bad weather all bets are off.    There are tradeoffs between how much of your life you want to spend in a car every week and how much house/property/etc you'll get for your money.

@Landon Fillmore - there are plenty on this forum who have done STRs in Anchorage, but I am not one of them, so I can't speak firsthand on that topic.  Are you going to be deploying at all?  Being gone for a long time will probably influence your decision on that method of investing...  maybe @Eric Giovannucci can chime in on this one?

Welcome to Alaska! I don't have a ton to add beyond what has already been said, but saw you were from Orem, and since I grew up there I couldn't help but say hello! I'll actually be down that way (utah valley area) this week, if you want to chat about AK let me know and maybe we can meet up

@Landon Fillmore Yes lots of military folks commute from the valley. It's nicer and more affordable here:)  My assistant has an airbnb in Eagle River (real close to the bases) that she does pretty good with.  I'm buying a couple places right now that I intend to use as airbnb on the water in the valley.  If i don't like it or it doesn't go good we can convert to regular rentals.

@Landon Fillmore @Tyler Bobo Hey agree with Tyler about Wasilla being cheaper... but nicer, I don't agree with that lol. No offense to Tyler, the Valley is good for some, but not good for all. Also, that commute from Wasilla to Anchorage in the morning and evening can be horrible at times. If it is the first or second snow of the year, you might as well call in sick. Or if there is an accident, it can take hours to get home. I've done it before and its not worth my time to sit in a car for that amount of time.

@Cam Jimmy I believe it. I don't mind a commute, but big delays are no fun. I'm probably going to stay within Anchorage. Do you personally have any recommendations for multifamily around Anchorage itself? Nicer areas, or more desirable ones?

@Landon Fillmore I personally love East Anchorage. But East Anchorage is hit or miss. If you haven't lived here, it would be hard to know which pockets are good and which aren't. I believe there are a lot of military people that live at the north end of Turpin road, right off of Whisperwood Park Drive. There are tons of newer duplex's and 4-plex's over there, and its so close to the Boniface military gate. You could literally ride your bike to the gate haha. Just south and to the West of this neighborhood are trailer courts that don't have direct access without going to a main road and going around. But still another example of East Anchorage, a decent area surround by not so decent areas. Anyways, my recommendation would definitely be North East Anchorage since its so close to the base.

Gotta agree with Cam on the properties around Whispering wood. There are a bunch of (imo) overpriced fourplexes being built there right now. like 750k each last time I checked but the duplexes arent bad for new construction. The 4plexes there just feel small and cramped to me. There are also a lot of condos in that area and its generally a very quiet spot. I manage a condo in there which I use to live at (sister in laws) and always like the area. 

Eagle River would be a good option for you considering you’ll be working at Ft. Rich.  Plus you won’t have to worry about the is this a good/bad area question too much unlike Anchorage.  I wouldn’t invest in Mountain View right out the gate and the rest of Anchorage is street dependent.  One street you’ll be good while across the street you’ll be wishing you bought dogecoin.