All Forum Posts by: Brandi Croom

@Jamie Rose As far as that multifamily, it hasn't sold and it's overpriced.  The issue I see with multi families in this area is that they have had low rents for a long time and are capped at what they can increase them too  (This year you can raise them 9.9%) but a lot of people that have owned them for a really long time don't raise them each year.  So when you have $900-1200 rents and try to sell the property like a duplex for $525,000, that's a no for my portfolio.....but people are still buying them at that price. I can't believe how many multi families are on the market in Anchorage, what do you chalk that up to?

@Jamie Rose the 1.83% number was your property taxes. Sorry if I stated that incorrectly.  The taxes are very low as well as insurance so most of these have taxes of $1200-1600 and are capped at no more than 3% increase per year. Here are a few of the properties I've bought and renovated (one is a flip, the others I rent out, 15th rents for $1895. 7th is $1750, Dunham I haven't decided and it'll get posted in a week, probably $1850). The pictures of them renovated may not show up on Zillow so feel free to browse my highlights on Instagram.  It's just my full name. Here's a few of my properties:

956 SW 15th St, Redmond, OR, 645 NE 7th Street Prineville, OR, 480 SE Dunham Street Prineville, OR, closing Monday on 727 NW Claypool Street Prineville, OR, and I flipped 673 NE Garner Street Prineville, OR.

@Jamie Rose

Here's the comparison to Anchorage and where I currently own rentals and I've also flipped houses in these area as well.

Appreciation from 2018- YTD since I think a 3 year trend is more telling than just a single year
Anchorage, AK is 13.84%, August 2020 vs August 2021 is 1.83% appreciation
Redmond, OR is 63.63%, August 2020 vs August 2021 is 26.7% appreciation
Prineville, OR is 53.75%, 2nd quarter 2020 vs 2nd quarter 2021 is 47.6% appreciation

Rents- I can buy something for $150-200K renovate it and rent for $1895 or I have a property I bought for $329K new construction in 2017 that rents for $2350 and is now worth $489K. Cash flow is $550-750 per unit I own.

Anchorage property tax rate varies but most of Anchorage is at 1.8% and where I have rentals in Oregon is closer to 1% or less and your tax bill cannot go up more than 3% per year. 

Bragaw is C class with very few exceptions that may be a B.  

Hi Trinity, I've bought 4 buy and holds in Central Oregon in the past 8 months so there are some deals still around here.  I don't have any help for you in San Antonio but feel free to message me if you ever want to brainstorm about investing here.

As far as not cash flowing right now in San Antonio, the numbers don't lie!  However, have someone take a second look at your numbers that owns several Air Bnbs and maybe they can spot if your numbers are accurate.  If they are, I'd keep searching. I'm curious why you picked San Antonio?  

If it's an older unit the capex and maintenance may be high but I don't find any of my Central Oregon properties run any where near that amount. What rent amounts are you using? If there's one you are analyzing, I'm more than happy to run numbers on it as well.  I have great cash flow on my properties but I buy single family properties.

Great job!

What factors made you decide on Alaska as an out of state investor? 

I bought a zero lot line in 99507 last year to BRRRR but felt like the market was too soft and it didn't rent quickly enough so I flipped it and decided not to invest in Anchorage right now.