I'm going to be working in Alaska part time. Any insight on the buy and hold market in Anchorage or Fairbanks?
It seems properties are reasonably priced and rental rates are good. How is the demand for rents in AK?
The rental market is awesome (for landlords). Vacancy rates are less than 5%. Rents are also priced very competitively, again good for landlords.
If you're looking to buy and hold RE (the Mecca of investing to me) you'll be happy here in Anchorage.
Great, thanks for the heads up. Are you in residential or apartments or both?
Just as James said, vacancy rates are low and rents are high. I don't know much about Fairbanks, but I do know that there is a shortage of housing in Anchorage which keeps the rents high and probably will for a long time. Talking to some old timers here, even during low points in the economy, rents have stayed strong even when housing prices went down. So yes, from my limited experience here in Anchorage, I would say it is a great place to invest in buy &I hold.
Thanks again! I'm excited to check it out.
@Tyler Williams I am in both.
Any good property managers you can recommend? Lenders with investing experience?