All Forum Posts by: Connor Dunham

@Nicholas Mazdra sometimes they report on Zillow. Just makes friends with a realtor to see what people are giving away at closing. Lately, I've seen 2-3% seller-paid closing costs and 0-3% off list price. There are several factors that affect what you can do. Other data to look at on Zillow are pending and recently sold properties. Stuff to look at for these is time-of-year listed, condition, how far they dropped the price over how many days on market. Best of luck with your search!

@Nickelle Reagle Yea, just having more than one unit/bedroom will serve your purpose of moving from renter to owner. Remember lenders usually count the expected rent as income as well. Your constraining number to start will be sufficient reserves.

@Chris Morris Any time is a good time to buy. There is plenty of inventory out there. You'll never be able to time the housing market. A morsel for your worries though - the market is still depressed since 2015. Remember AK often behaves inverse to the lower-48 economy. 

Welcome. Great to hear about your success so far. It sounds like you had a similar Alaskan upbringing to me - catching tons of Salmon. 

I second the AirDNA data. It has saved me from doing anything with AirBnB many times (no matter how cool it sounded, the numbers never penciled out). Very specific markets or situations make it worth the time and effort when you're starting small.

@Tom S. Everything has been good on my end. The only hiccup was a tenant approved for rent relief, and that check was late. Everyone up here also added $992 in July due to an early PFD disbursement.

@Jamal Madison any time an appraiser is over the contract price by that much means you're going to be a rich man. Congrats!

@Jamal Madison Make sure most comps support the value you're assuming with the ARV. I haven't seen too many over/under duplexes with that value unless they are in well-established R1/R2 mixed neighborhoods. It may be hard to find comps since that is what your appraiser is going to base the value on, and then your refi will fall through when it comes in low. Good Luck on your slow flip! That's how I got started too.

They've tried that too. See the ADN Opinion for the governor and Zink. They've said what they said multiple times before. The message gets weaker with every repetition. I do agree with your point that the real costs are not being accounted for and that the price being paid to save lives may be too steep. We're all being dealt a low hand, each person will play it the best they know how.

@Kevin C. It's putting me in a weird position personally. Working from home indefinitely, but also being forced by the school district to use PPP Loans (due to loss of dependent care). Ironically, my wife works for the school district but they have not made clear this option will be available to her (likely they will not make it available). So, they stated in-school classes won't happen above a 40ish case/day threshold. Selfishly, I hope the Rt gets below 1 so daily caseloads will start declining. Also, not every employer qualifies for PPP so it'll be a lot worse for other working parents with regards to child care and schooling. 

As far as businesses are concerned, they were given the green light in May and things got worse. Survival Mode for them is going to look a lot worse than it is for me (even as we prepare for a school year due to their (and many others) actions). I don't think it will outweigh the aggregate burden parents are going to bear this fall.