Alaska Real Estate Investing

[Chait Borade]

Any fellow Alaskans on BP network? I am a first time homebuyer based in Anchorage Alaska. I heard Alaska RE is different than L48. How much do you agree with that statement? Any Alaskan would know that RE especially around the Anchorage region more or less has been steady in the past 6-7 years. Even during the oil bust, which resulted into a lot of layoffs. Would love to hear your thoughts on RE in Alaska especially around the Anchorage regions. Also look forward to growing my network & meet fellow REI Alaskans.

[Ryan Bray]

I'm trying to buy up there right now but as an investor. I'm looking at condo/townhouse properties with an HOA so maybe different than your situation. My uncle has been there since 1976 and he has given me a lot of advice. Basically it is more expensive to fix places up in AK than where I live due to high labor/material costs and you have to build for -20F temps, snow, etc... I'm handy but live in CA so pretty much only looking at new-ish construction, foreclosure properties which have higher up front cash requirements (closing costs, 20%+ down, etc) but there are some good deals out there... AK real estate prices are relatively low right now. IMO it is a great time to buy in AK, not unlike when we bought our house in CA in 2013.

Our family loves the outdoors and we are super excited to own in Alaska.

Good luck!