All Forum Posts by: Keenan Fitzpatrick

I have a friend that works at a couple big Anchorage hotels. I've always thought his insight on the amount of rooms requested by big tour companies was pretty good insight. I haven't spoke with him about this year let alone sometime that's as recent as to answer your question but last year they were booked 100% and Princess requested to double their amount of room/nights. This availability obviously didn't exist. That demand is also echoed in the new hotels going up in Anchorage despite the growth of AirBnb. I know this isn't the most in depth analysis but IMO I think it is steady. I will be converting some of my LTR to STR shortly.

Yeah, you can get a heloc for investment properties but they are harder to find and will usually lend less. Interest rates are really good right now. I'd also look at doing a refi. I have a lender I could recommend that is also an investor and could help you out if you'd like. 

Great point! This is a great rule to go by. I have long term rentals in Anchorage. I am going to change some of them over to short term. While they are booked up 100% of the time in summer, they carry about 30% occupancy in winter. The rates tend to be about 3X what long term rates are so even in the winter they generate similar income. The exception is in our only little ski town of Girdwood. They stay busy year round. This may be a good hack to the rule. 

@Jamie Rose Thanks buddy! I missed ya at your office this morning but hopefully I catch ya next time!

@Chris Brenner The best thing you can do to make your life easy when having rentals is to prequalify your tenants. Shoot me a DM if you'd like to see how I prequalify mine. 

@Jennifer T.

My grandma was remodeling a house and her contractors found a box full of gold coins. They split them up and disappeared. One guy his back to her a few days later and the other took off across the country. She got some of those back too but not all of them. She gave one each to her grandkids and wore a $20 gold coin around her neck on a necklace she had made.

@Isaac Johnson

I think of it this way and maybe you’ll appreciate it. I look at Dave Ramsey as elementary school level of education. It is the foundation upon which higher level investing is built upon. He focuses on being debt free and having control over your spending and accounting. For example, how well would you expect to manage a triplex or a rehab project if you can’t stop from spending $75+/month on Starbucks when you make $10/hour. Take that class for what it’s worth and move on and let your teacher have his opinion. When your real estate company leases you a 911 in a couple years you can come back and do burnouts in the faculty parking lot.

Real estate has created more wealth than any other vehicle ever.

@Jeremy Bartlett

I agree with Jeremy. The damage is already done. You can’t move someone in their without spending a couple grand at least. It doesn’t sound like they’re going to make it any worse than it is now so just let it ride.

@Jared Mathis

Search Graham Stephan in YouTube. He has a few videos on credit cards that are pretty great I think you’ll end up getting the AK Airlines card and a few others on those videos. He also tells you which ones to stay away from

@Jo Ballagh the answer is always going to be “what does the lease say”. I noticed you mentioned you do have a “good neighbor” clause. Normally, enforcement of any violation is a written notice to be posted. You can also have house rules. Tenants have to agree to them and be notified of them. Again, it goes back to having a strong lease. Another good rule of thumb is to DOCUMENT EVERYTHING in the event that you go to court for an eviction. Posted notices are crucial for this as well. In order to keep managing your property from out of state you can buy a lease from the Landlords Almanac website. Their Facebook page will help you get answers from local landlords and professionals as well. I recommend Real Property Management Last Frontier if you do use a PM. Oh last thing for managing remotely, you can use a courier to post notice. Feel free to dm me with any questions and I’ll do my best to get you pointed in the best direction for what YOU want and not just tell you what I think you need... but I might sprinkle a little of that on there too. Cheers!