All Forum Posts by: Eric Giovannucci

The best model I believe for new agents is to join a team. I'll echo something spoken several times on the podcast: We have lost the mentality of apprenticeship in this country, which is unfortunate. A lot can be learned from those with years of experience. While in this business it usually will come in the form of a commission split that seems unfavorable, remember this: Going solo may offer you 80% commission, but 80% of zero is still zero. 

Let's connect and maybe we can work together to help you find a solid team to interview! 

Anchorage, Alaska has forever been the "boomer" go-to for vacation spots, however, we have seen unprecedented growth in both younger generations moving here, the military population growing, and significantly increased travel in the past 6 months. Barely brought up with investing, this is a true hidden gem for short-term vacation stays. 

Hey Michael, I'm a local investor, and agent at Keller Williams Realty Boise. You should be able to get in that range depending on where you're looking and if you're willing to get creative can even look at potential duplexes in certain areas of Canyon County, if that is something you're comfortable with. I run House Hack Boise and have been teaching local first-time investors how to get into something like what you're looking for. Feel free to reach out and we can chat! 

Hey everyone! 

I have been investing for a few years now with house hacks/holds and just started with my first Airbnb. I decided to leave Active Duty as an Army Officer to focus more on investing, and being an agent in the Boise, Idaho area. 

I think I have narrowed my choices down to KW and eXp, but looking for more personal experiences that agents experienced with both. 

If you worked for both, why did you leave one for the other? 

My main concern for eXp is the cloud-based brokerage, this seems like it can be a positive and a negative for a new agent, and would love to hear more people's experiences as new agents with this model.

The commission split seems better with eXp which leaves me as the KW being on the less money in my pocket side, which is my concern there.

Thanks in advance for sharing your experiences and look forward to the discussion! 

Good Afternoon from Alaska! 

My wife and I are exiting Active Duty military service and calling Idaho home. We have been investing for about 8 years now and have invested in buy and hold multis, and STR, flips on SFH as we moved around. Looking to get into this hot market in Boise and the local suburbs as there seems to be a great need for some flips and new construction multis out towards the Caldwell area?

I am just starting to assess the market but would love to sit down and grab coffee and talk and get to meet some other investors in the area. Interested in partnering with some ongoing ideas as I get to learn the market so feel free to reach out with opportunities. 

Look forward to connecting

-Eric

Sean, welcome to a unique group of investors here in Anchorage. 

This market is tough due to a lot of anomalies you don't see in other markets. I may have missed it, have you already closed?

Good to see you Allen & Keenan, its been awhile!

Hey there everyone, looking for some opinions on these terms for a hard money loan. First time using hard money and I'm looking at this lender as one of the options for this potential BRRR

Brief numbers on my deal 

150k purchase price for hard money 

40k owner carryback 

100k rehab

ARV 370k

Minimum purchase price: $63,000 (if 0 experiences in last 3 years)
Minimum purchase price: $59,000 (if 3+ experiences in last 3 years)
Minimum ARV: $75,000
Minimum loan amount: $50,000
Appraisal Fee: $550-$725
Closing, Legal Fee: $995 - $1,500
Interest Rate: 7.99 - 10.99%*
Origination Fee: 2.00 - 4.00% **
Loan Amount: 80-90% of purchase price + 100% rehab costs
Term: 12 months, interest-only

* Rates based on investor experience, 24 flips last 3 years = 7.99%, 0 flips = 11.99%
** Based on loan size and risk profile

There seems to be a small group of people Ive noticed going to the REX meetings each month. Just entering my second deal up here in the Anchorage area, but always willing to get together over coffee or a beer. Feel free to reach out! 

I'm going to double up on the AirBnB recommendation. 

If it is close to the base, something to consider is the in/out re-assignments and what that does for the STR.

Something I am in the process of doing is AirBnBing a 2 bedroom close to JBER up in Alaska. Most locations allow for 10-60 days of TLA/TLE, which is capped at the local rate for hotels essentially. What that means for you- If you have networked throughout your unit, you could potentially have people that are PCSing in/out always fill your rental while they in transition, at the very least, double your income when compared to a traditional 1 year lease.

Looking through the stats of home valuation and rental prices in the last 6+ years, Anchorage seems to be leveling out a little bit. The scare of JBER moving/closing the Army side back a few years ago certainly dropped some prices in the area and they have yet to rebound, and im not sure they will in the near future. However, most people I've spoken to in the area seem to think we will see a pretty stable market moving forward with maybe a few years of depreciation. This has pushed me to search for the older landlords that may be looking in to cash out their multi's. I know of one that is liquidating several properties and I landed a decent deal that flows well. Another option to defeat the minuscule downward trend in rents and values seems to be STR. As we all know the summer months are booming with tourists, hotels are outrageous, which allows AirBNB owners to be booked mid april-september. A lot of money to be made there it seems. With all this being said, I am still relatively new to this area but would love to get acquainted with active members up here and pool some ideas/ potential partnerships moving forward.