All Forum Posts by: Cam Jimmy

@Kevin C. I love those in-stock cabinets from Home Depot, I used those in my rentals as well, same color and everything. I'd do what connor said and flip the fridge door opening, and Id throw on some cheap knobs on your cabinetry. I'd also have gone with a lighter color gray on the walls just to keep it brighter. A sink would be nice too lol, but I know your going to do that already. Looks so much better than it did though!

@Kyle Kapp I dont know about 'investor friendly', but my favorite title company to work with here in Anchorage is Alyeska Title Guaranty Agency. My favorite Title officer there is Karen Goentzel, she is very knowledgeable and she considered is a "Sr. Title Officer". 

I am also interested in purchasing wholesale deals. I'm interested in 1-4 units, with a little more emphasis on the SFH. I focus mostly on East Anchorage. I hope to maybe see some deals from you in the future. So far every person I have met that called themselves a 'wholesaler' in Anchorage, has not worked out in terms of numbers on the deals that they have shown me. I look forward to seeing what you got!

@Ty Stephens Keenan is correct about those 2 meet ups. However, I personally felt the REX was a little salesman-ish. The guy hosting it is very out going and seems like he is trying to sell me something. It does seem pretty harmless and there is some good information though. The landlord Almanac meeting we a little more learning, and less salesman-ish, but it was also more of a learning about property management than investing type of meet-up. I don't think we have an actual meet-up for just investors to chat amongst themselves.

I use Laminate, and have no problems with it. Ive seen what stepping on little rocks does to LVP... it scratches the hell out of it. Laminate is way more scratch resistant, but is more prone to water damage. Ive only had water damage on my laminate in a kitchen where flooding has happened. Ive never had any water damage from anything else.

I also went the Duplex route. Just the fact that you said 500k duplex, you most likely aren't going to be cash flowing once you move out. The only duplex's that Ive found that have positive cash flow have purchase prices are well under 400k. For example my duplex cost 315k to purchase, and I added roughly 25k in repairs that I did myself. Now I am able to cash flow since all the cosmetic Items are brand new and I can charge slightly higher rents. Your best bet is to find a fixer upper whether its a 2, 3, or 4 plex and build some sweat equity and charge higher rents.

I've spoken to others about these property tax foreclosure sales, and you are correct EXCEPT for any IRS liens. 

@Eric Giovannucci As a local investor I haven't noticed any depreciation in Anchorage. I've actually noticed some appreciation these last 2 summers (At least in the $200k-350k range of houses). Realtors continue to push for higher listing prices on the houses in that range. I'm not sure if they are actually selling for those higher prices, but I've definitely noticed slightly higher list prices.

@Nicholas Morgan I would definitely take this deal. It is your first deal ever, so just the learning alone is worth it. Plus you have extra cash in the end +$78/mo.. Your returns on this are infinite. Not to mention the equity and loan paydown. GO FOR IT!

@Star Dawson Hell no Don't give up.. I have 3 properties under my belt now, and at multiple times through-out the last 5 years I thought about giving up. I'm so glad I didn't! Read motivating self help books, and real estate books to keep you motivated and change your mind set. Also keep preparing yourself by learning, saving money, and fixing your credit score. A duplex, triplex, or 4-plex is definetly for your income.. especially since it will be cheaper to house hack, than to rent anyways lol. Good luck Star!

@Casey S. This is why I love Brrrr method... All repairs are done upfront, before renting it out.