All Forum Posts by: Tyson Cox

Natalia Aulenbacher in Soldotna has a hard money lending business. The great thing about hard money is that the project speaks for itself. They do look at your credit worthiness and the deal, but a lot of weight gets put on the quality of the deal. Message me if you would like her contact info.

You might want to check out Alaska Housing Finance Corporation. They have some pretty good loans.

Sounds like it could be a good deal. Remember to account for vacancy (if minimal use 5-7%) and monthly expenses (maintenance, utilities, reserves, etc.). Without knowing these costs, I would assume that the best you will be able to do is break even while living in one unit with no other vacancies. Which is not too bad as long as you save enough to have a couple months with one vacant unit.

You may also want to consider putting your "rent" into an account to save enough money to refinance with 20% down to eliminate PMI. Remember that FHA loans do not ever take away the PMI even if you get under 78% loan to value on that loan. If Kodiak is appreciating you may be able to use less out of pocket funds to reach an 80% LTV.

@Osmany Linares, I would tend to agree with @Ralph R.. We bought our first 4plex in 2006 with 10% down and several since with 20-25%. I am much happier with the cashflow and risk tolerance of the buildings with at least 20% down even though I was against the idea at first. On the Kenai Peninsula we are able to have our 20-25% down 4plex have only 2 renters (2 empty) and still break even. That is the peace of mind I am willing to lose ROI for. Best wishes for your real estate investment journey :)

Come join us Tuesday, February 28, 2017 from 6-8pm at Froso's in Soldotna, Alaska for the monthly Real Estate Meet-Up.

PROPERTY ANALYZING COMPETITION

We are going to change it up a bit. This month we will be splitting into small groups to analyze a few properties to see if we can find a way for them to be profitable. Bring your thinking caps and any tools/resources you might find helpful. Good practice for seasoned investors and priceless experience for newbies. And may the odds be ever in your favor.

-- PLEASE RSVP - by replying to this email or confirming on Facebook at https://www.facebook.com/events/401917916810019/.

Be sure to bring some $. Froso's has been very kind to let us use the space for free. Let's show them we appreciate at it by spending some money on dinner, drinks, and/or appetizers.

Partnerships - Positive or negative? When should you have one? How do you find one? How do you set up the partnership? Etc? Please bring questions and be willing to share any insights you may have. Think about it and be ready. This is how we can all get the most out of these meetings. (Topic to change each month. Suggestions welcomed.)**

We save time at the end of the meeting for any other real estate questions people may want to ask the group. Have any topics you would like to have discussed or speak to the group about? Reply to this email. All ideas welcome. All new speakers welcome because everyone has something worth sharing :)

Tyson 

Anchorage is a great market too. Buildings are more, but so are rents. The return is about the same. The biggest problem with the Soldotna/Kenai are is that there is nothing for sale right now (at least for 2-4 unit buildings). One could probably find a house or two that would pencil.

We invest in the Soldotna and Kenai area. We currently have 39 units consisting of several 2-4 unit buildings and an 11 unit building. We have a great market with vacancy rates of 5-7%. Even with the price of oil as low as it is, we seem to never have enough rentals for people. 3/2 house rentals are really hot right now as people aren't buying. I am thinking about possibly picking up a few as deals come up.

I wasn't suggesting that you move to Alaska, just invest here. If you already travel to the state in the summer, just check on your investments while here. You shouldn't need to do much more, especially if your investment properties are houses.

Don't leave out Alaska. We have done very well here and it might make sense with you being here for guiding. Just wondering, where do you guide?

House hacking is a great way to get started, especially with Anchorage prices :) Keep us posted on how things are going.

We are looking for a security camera solution for our buildings and I am have a hard time finding the sponsor that was on the podcasts several episodes back. Just wondering what the security camera sponsor from the Podcast is? Any help is greatly appreciated.

Thanks,

Tyson