How's it going Anchorage & Eagle River Alaska people?

[Cam Jimmy]

Wow, Hello Anchorage Alaska! I think its been a good 2 years since I posted anything. I felt like I was on a roll there in 2016-2020, then had a couple kids and took a back seat for a while. We used to be a couple of "Dink's" (Double income no kids) with no bad debt, in a tiny Nunaka Valley house.. to 1 income -2 kids - bigger house payment - newer car payment - daycare payment etc lol. At my peak we had 2 SFR rentals, and a duplex. Now we just have the Duplex and our newer bigger house we live in (that was supposed to be a live in flip). My wife finally got a part time job again and im just starting to get in the real estate mode again!

Anyways, whats everyone in Anchorage Alaska been up to the last 2-3 years? Anyone accumulating rentals/houses through the craziness in the last few years? I noticed that rents have gone up tremendously (so have expenses unfortunately). I recently raised my rents on my duplex for the first time since 2016, and I will probably continue to raise it in smaller chunks in the following years.

I heard finding contractors here in Anchorage is ridiculous too. Anyone able to find good contractors lately?

[Tyler Cobb]

Hey sir,

Things are awesome! In the last 2 years I've personally picked up 24 doors and am still looking for more to add to my portfolio! Rents have climbed pretty substantially lately and with the abundance of STR's in our market, the rents on Long term rentals are still climbing.

Hope all is well with you!

[Cam Jimmy]

Very nice! Congrats on your 24 doors! Are the all in 1 building? or multiple different buildings? Also if you're will to answer, which parts of Anchorage?

[Jamie Rose]

@Cam Jimmy - roll call! love it. Up to 54 doors now! mostly Anchorage - some in valley - Raspberry Rd - Minnesota/Tudor - Rustic Goat are areas for most of them! 

Just closed today for a client on 9 units at 326 E 10th! She's going to crush it! 

[Chris S.]

Hey Cam,

Just been focusing on building our property management company, OverWatch Real Estate Management. Although, my wife complained the other day about us not buying any properties recently, so I guess I will have to start doing that more!

[Tyler Cobb]

Quote from @Cam Jimmy:

Very nice! Congrats on your 24 doors! Are the all in 1 building? or multiple different buildings? Also if you're will to answer, which parts of Anchorage?

 Not one building, technically 6 different buildings. 5 of those buildings are on one street next to each other.

[Mark Nicholson]

Hi Cam, I'm here in Anchorage also!  Although I haven't been able to get any properties lately, I just have 10 doors which Chris Smock is doing a great job at managing them.  Working on upgrading my business currently, so I need to conserve some cash until this fall.  Then maybe I can get into some more properties.  If not, I have a few other business ideas that have a far cash on cash return.

Sorry, I don't know any good contractors, and I've been out of construction for a while, so I don't have contact with guys that do construction & can get a cheap price for them to do sidework.

Can't wait for all this snow to Melt!

[Keenan Fitzpatrick]

All peachy except we need more inventory but you probably already knew that. So far my listings barely make it over a week on the market before someone swoops in. It's a nice little problem to have but it is a problem lol

[Cam Jimmy]

Quote from @Jamie Rose:

@Cam Jimmy - roll call! love it. Up to 54 doors now! mostly Anchorage - some in valley - Raspberry Rd - Minnesota/Tudor - Rustic Goat are areas for most of them! 

Just closed today for a client on 9 units at 326 E 10th! She's going to crush it! 

 Excellent!

[Cam Jimmy]

Quote from @Keenan Fitzpatrick:

All peachy except we need more inventory but you probably already knew that. So far my listings barely make it over a week on the market before someone swoops in. It's a nice little problem to have but it is a problem lol

 Yeah, there is hardly anything listed in the areas im looking at lol

[Connor Dunham]

Hi Cam,

Since 2020 I’ve added one out-of-state sfh vacation rental to two duplexes in anchorage (I can’t count personal home, but that has been good too from an equity standpoint). I’m currently looking for mixed-use commercial in Anchorage, and putting together plans on some ground-up construction near Willow (5-year project).

For kids - yea, I’ll be glad when I’m down to one daycare payment this August.

Hope to catch you around!

[Nick Bruckner]

Congrats at getting back at it @Cam Jimmy. Right now I'm excited to be under contract with a client for 30 doors I found off market. Contacting potential sellers off market takes time and has a low rate of success, but can create more opportunities with such limited inventory! Inspection next week. Enjoying working with @Tyler Cobb and @Jamie Rose ! Good to connect. -Nick