Interested in Alaska Investors

[Amy Paradis]

Hi All, We are investors that live and have a few duplexes in Northern Vermont. We are returning from a trip in Alaska. To say that we love the state would be an understatement. We wanted to evaluate buying property and returning to Alaska, at some point. We are casually investigating the prospect of an investment (and possibly an out right move although I love my current job and there are not any similar positions in Alaska as I am a crime analyst for a PD). Anyway, Anchorage seemed to have diverse neighborhoods and with the size of the population, seems to have long term growth potential and a stable rental market but the prices in A and B neighborhoods seem to provide little room for growth at the present rates (if see otherwise, please tell me why so I can look into it!) That said, Wasilla caught my attention given recent growth, proximity to Anchorage and lower tax rate. Eagle River seemed to be an interesting area with the military bases. I absolutely loved Seward but that seems too seasonal to be a realistic option. Our initial thought was to buy a multi family and maintain one side as an area we can use a few times a year, possibly turning it into an AirBnB. We would consider other avenues of investing. This post is my Hail Mary in terms of getting some indication if this is even worth while in trying to pursue. I am curious if there are other investors in the area or in Alaska that has any advice as to the strength of the rental market, how finding tenants go, if anyone does not live locally to their investments or anything we may find of use! Ideally, we would find an investment within an hour or so of an airport with commercial Flights such as Anchorage or Fairbanks. I am writing this from the airport while area names and ideas were fresh in my head. If you are an investor or resident of Alaska-- I am overwhelmed by your incredible state. Thanks, Amy

[Philip Bennett]

Anchorage is a great place to invest. Wasilla on the other hand has seen a steady decline recently. People are moving up and seeing the same thing you saw about Wasilla and deciding to move out there, then the first winter hits and they're driving the ONLY roadway between Wasilla and Anchorage. An hour drive can easy turn into a few hours if there is an accident or poor road conditions. The Alaska economy hasn't helped, a slow decline has slowed the growth as well. But with that said, don't let me talk you out of Anchorage. I have a couple rental properties and recently had to fill 2 units at the same time. We had renters in one unit the day after the old tenants moved out, all due to proper planning and screening before the unit was available. #TheBookOnManagingRentalProperties the other was a new unit for us that went through a complete remodel. The issue I see with a lot of rentals in Anchorage is their age and lack of updates. Our market really needs investors that are willing to put some time and effort into making the quality of life better for the rental community. Good luck!