New member Anchorage Alaska

[Christopher Bernardo]

Hello everyone! My name is Chris Bernardo. I have recently moved to beautiful Anchorage Alaska. I’m 28 years old and I am on my journey to FI via real estate. I’m currently looking at multi family properties in the area. I’m looking forward to connecting with people. 

[Jonathan White]

Chris and Chris

If your willing to do long range, Fairbanks has some good cash flow deals. Rents vs Market Prices seem to be much better than Anchorage or Kenai Penn. I am buying a 4 plex in Kenai right now (should close in a few weeks assuming inspections go well) but afterwards I will be looking at Duplexes or off market SFRs in Fairbanks. But if you use your VA loan (recommended), just buy in Anchorage or the valley if the cash flow works. VA loan for Anchorage is capped at $600K + due to it being a higher cost of living. Allowances are a lot higher than the Std $453K cap or whatever it is. I only learned this because I have a VA loan and am looking to use another at the same time and my banker (Kris Hughes & Homestate) informed me of the AK VA amount increase. So I can use a loan entitlement not to exceed the amount of my first property balance with the new property amount. Better to use it or another 1st time homebuyer program so there is little downpayment now before rates increase. Overtime, Anchorage values have done well. I would say it is hard to go wrong buying for a long term investment. At least from my experience over the years. I made a mistake in 2010 when I sold a house I lived in due to the flat market. My rents would have been 100 less than my payment after using a mngt company. 2-3 years later the home increased 25K in value and now it worth alot more and the rents are 500 more than what my payment would have been and climbing. Bottom line is over time, AK does well with equity and rents increases. Buy soon before you have to PCS in 3-4 yrs so you can get your foot in the door and it will make it easier or more comforting to rent went your gone. I spent many years stationed in AK and I have met so many people that did not buy and regretted it later. But buy smartly to maximize return if possible. There are a few 4 plexes in Wasilla now for a decent price, detached garages and not very old. If I was not buying south right now, I would be looking at those. They are on the MLS