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Updated over 1 year ago on . Most recent reply

User Stats

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Jamie Lamont
4
Votes |
3
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Just got my first property

Jamie Lamont
Posted

Good morning BP community, 

I recently closed on my first house-hacking property. It is a quadplex in Anchorage. Two units were already rented when I purchased with one unit vacant and the previous owner occupying the 4th unit. Just some information even though I do not think it is relevant to my questions. 

  Can anyone recommend a PM? I have messaged a few and some are no responsive or there are bad reviews. Does anyone here have a company they know and have history with? For now I have taken on the previous PM as the tenants are decent tenants and the property was taken care of. I may stick with them, I am just curious as of now.  

I will be meeting the PM face to face for the first time next week as I work out of the country is there anything i should ask? 

Do you think it would be beneficial to have a separate bank account for the property dealings? Such as maintenance, mortgage, utilities. etc.. I can not put it in an LLC as I am using a VA loan and will be living there for a year.

 Since this is my first property, do you have any insight you would like to share, I do peruse the forums for information which is pretty helpful. Sometimes I do not even know what I am looking for, if anything. 
     

Thank you for your time. 

Most Popular Reply

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1,242
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Doug Spence
  • Investor
  • San Diego, CA
975
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1,242
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Doug Spence
  • Investor
  • San Diego, CA
Replied

@Jamie Lamont No need to put it into a separate bank account, unless you just want to keep those funds separate for your own sanity. From a legal or accounting perspective, it doesn't matter since you own it in your personal name. 

Are there any meetups in Anchorage? Seek out other owners who use PM's and get their recommendations. You can seek them out either virtually or in person (think local meetups hosted by RE agents, Alaska RE FB groups, etc) and ask who they use. I guarantee there are other landlords who have already gone through a few PM's and found a good one! 

Good luck and keep us updated!

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