All Forum Posts by: Kassandra T.

Welcome!  

We are in Anchorage also. Glad to see ya and use that VA loan! :)

 We host a local group to help support the concepts we all learn here in biggerpockets and apply to the local area. 

@Erik Nosich  I would say this is accurate in our market as the cycle is about 7 years.  So by the time everyone is talking about it, you are kinda a little late.  I bought several in 2008...sold in 2015 and did well.  Now I'm about to go at it again in 2017-2018 and hold the next cycle.  Many bought in 2015/2016 so they will have to hold out and wait till the next peak to make anywhere close.

Good Day Everyone,

I thought it was best to chime in and help with numbers here. We manage several rentals and we are the 2nd largest in what we do in Anchorage - Matsu area.  (Not advertising or bragging, just trying to state our size without saying too much if our competition is watching this thread) 

Rental Rates is just like property sales - there is a 7-year cycle in the Anchorage Market from our rental stats. - peak then slow down, then growth to peak, then slow down. 

2008 - Bottom  - Average $1.05-$1.10/SQFt...Vacancy Rate 6-7%

2009 - Bottom

2010 - 2013- Going up 

2014 - Peak

2015  -Peak $1.35 - $1.40 / SQFT  ...Vacancy Rate 1%-3% 

2016 - Downward (Started in Fall of 2015 technically)

2017 - Downward / Might be flat  or Bottom $1.15/SQFT - Vacancy 4%-5% Still higher than 2008 numbers so that is your "appreciation" on a 30 year cycle.

Based on the rental stats, the low point was in 2016.  Yes, those that rented their place in 2015-2016 numbers they are dropping to the low 2016 numbers.  Those that were priced low and didn't know the market went up - missed out. I disagree that the market was "flat" for 10 years as stats say otherwise right now.

However, Based on what we have rented in 2017 it shows we are trending upwards or flat again. We shall see. There is a lot of movement with military and construction up north with shipping (See Alaska Business Magazine on details).

Another great source is AEDC. They are calling 2017 flat - maybe a little slow from residuals of job loss in the lower paid areas.

At Real Property Management  - Alaska Office we also watch A, B, C rentals.  What's fascinating is the A rentals and C rentals dropped significantly in price points. The B properties dropped a little but did not have a large drop due to demand increasing.  The average days on market (meaning sitting there waiting for a tenant) use to be 7 days and went all the way to  27 days.  Today, we are averaging 22 days and working hard to get it to 14 days.  SOOO....Lesson to investors Mid-market is much safer, not as risky, and tend to be stable.  

We do post our stats about every 2 months to help the local landlords in the area through our local training class group.  I would state that group but don't want to be tagged as spam as that's not the point.  (PM me if you want it)

@Hans Rodvik We manage properties from Anchorage to the Valley / SFH to 30 unit complexes. Oh yes! There are lots and lots of multifamilies here. It would be great to see you tonight!!

A series of classes that will address the most expensive mistakes DIY (Do It Yourself) landlords make.

This class will cover inadequate screening of tenants and the mistake of renting to a friend or relative.

@Jeremy Tompkins Great Comments and I confirm.

@Hans Rodvik Glad you made your first post!  I'm glad you are doing a 4plex!  It was the best investment I've ever made and it launched me into a great future.  

I manage several properties in Anchorage - Valley and currently everyone is holding onto their unit.  But don't let that stop you. There is plently out there, you just have to hunt a bit.  You are welcome to join a local group of DIY Landlords. It might help you network locally and try to find opportunities to buy something.

https://www.meetup.com/The-Landlords-Almanac/

Com network and learn about tenant screening with other local Landlords.

Tenant screening is one of the smartest steps you can take towards making your property management experience as headache-free as possible. By simply screening very well, will avoid the painful topic of evictions, collections, and tenants doing damage.

It is a balancing act when it comes to screening. You have to mix legals, personalities, lifestyles, income, expence, desire to rent fast, and more!

There are certain factual qualities you should seek that usually indicate top-notch renters, as well as indicators that an applicant might cause trouble down the road.

When choosing the best tenants, all property owners should be aware of protected classes that are illegal to discriminate against. There are questions you can and can not ask! Recently HUD has changed a lot of rules and you should come to network and learn about what those changes are.

For a well-run real estate business, all landlords should create solid processes for pre-screening, screening, approving, and rejecting rental applicants. 

RSVP Link

Landlord Boot Camp - Bookkeeping and Taxes

When we are working with landlords, it is common for us to hear comments to the nature of "I don't have time to record the finances monthly" or "Taxes are confusing, what should I track!". As a result, we see missed opportunities because we were over complicating the system or not using our resources and simple tools.

In reality, if you find a system of recording and tracking that works for you on a consistent basis, then your team member (CPA or TAX Proffessional) will be able to file the taxes according to your needs and goals. This workshop is designed to give you solid tools to develop habits, systems, and allow you to keep more of your money all around having rentals in your investment portfolio.

This is a workshop, so we will be providing you a packet to work through some examples.

Anchorage Alaska

Landlord Boot Camp - Bookkeeping and Taxes

When we are working with landlord, it is common for u to hear comments to the nature of "I don't have time to record the finances monthly" or "Taxes are confusing!".  As a result, we see missed opportunities because we were over complicating the system or not using our resources.

In reality, if you find a system of recording and tracking that works for you on a consistent basis, then your team meber (CPA or TAX Proffessional) will be able to file the taxes according to your needs.  This workshop is designed to give you some solid tools to develop habits, systems, and allow you to keep more of your money. 

THERE IS NO SALES PITCH AT THIS EVENT. OUR MISSION IS TO RAISE THE BAR IN LOCAL PROPERTY MANAGEMENT AND HELP DIY LANDLORDS BE PROFITABLE RATHER THAN STRESSED OUT THROUGH LOCAL EDUCATION. WE ARE NOT REPLACING BIGGERPOCKETS - THEY ROCK! READ THEIR ARTICLES :)

Facebook Group to chat with other Anchorage landlords locally:

https://www.facebook.com/groups/TheLandlordAlmanac/