All Forum Posts by: Connor Dunham

You're better off keeping the match and then pay the early withdrawal penalty. Also worth noting: you can put back what you took out if it's within 60 days.

@Cassandra Swanson @Account Closed and everyone, Thank you for your well-thought-out advice. Parking is indeed tight but I don't think it's creating an issue (right now) with the cars parked up on the other street. They could get cited as they are likely over the allowable parking window (not my problem). I'll be moving forward with the lease renewal offer.

@Amy Tallerico depends on why type of auction you're going for... courthouse or online REO? Also, what's up?

Hi Everyone, I have a tenant who has rented for 6 years with 4 parking spaces and a car hobby. They have a lease renewal coming up soon and I'm leaning toward not offering a renewal. I have had to enforce the 4 parking space limit multiple times before (the lease limits parking to driveway only and total number to 4), and when I drove by the other day, they have 8 cars parked, one in the public street in front of the house, 3 cars parked on an adjacent street around the corner and 4 in the driveway. Coincidentally, comparable rents have gone up over $200/month on a $1550/month lease. It is very likely the unit will need new carpet, paint, vinyl floors, and countertops when they move out. Do you think I should: Option #1 offer to re-rent at $1750 on the condition they clean up their car act or Option #2 Give them notice their lease won't be renewed due to a remodel? Thanks for your help with sorting this out!

@Gabby Stewart Most people don't want to live in the "view" neighborhoods if they can afford not to. It requires a higher level of security and you don't want to walk at night. To be fair, I've had my house robbed and car broken into in a nicer neighborhood in Anchorage. But I don't mind going on walks in the dark in my neighborhood. Look into places near the Coastal trail, Chester Creek trail, or Campbell Creek trail. These trails span most of the Anchorage bowl and add year-round value for any owner or renter in Anchorage.

@Keenan Fitzpatrick @Benjamin Coleman you guys are making me want to get metered! I’ve already gotten the work quoted but decided against it. 

@Kaiden Foster Yea. Just call any utilities on a property that you're interested in. If you say "I'm looking to purchase this property and would like to know the level pay amount" they will give it to you. Valley is going to be a little more unique because almost everything is on well and septic.

You can get a feel for what you can have the tenant pay for by looking at rental ads. typically single-family has them pay all utilities, and duplex-up will be a mix depending on how it's metered.

@Russell McCarthy IV We've been in recession since 2015 based on jobs and outmigration. The real estate market jumped 6%-10% like most places last year due to interest rates dropping and low inventory. Alaska does well in recessions so it's really a time to be bullish on real estate up here. 

@Chris S. stacking cash. got it. Good luck with your business venture.

@Allen S. I've read the opposite - Cash is trash (especially when the FED goes Burrrr). I am optimistic for Alaska. Net migration is a function of the job market in Alaska compared to the lower 48; we run inverse to the lower 48 in that way. So, you can speculate that this trend will reverse when the lower 48 job market cools off. Another secular shift (which we are seeing) is the rise of remote work. Plenty of people who work in the tech sector are now free to roam. Alaska is not a wide spot in the road or air, but a destination. I expect longer-term furnished to do really well over the next decade for our market. I'm not so much worried about price. It is a function of average/median income for our market and interest rates nationally. I don't expect income to fall for our market, so the only factor of large concern is borrowing rates. I do expect prices to level off or decline as rates go up. We're still relatively cheap compared to the rest of the Westcoast, so I don't expect there to be a huge downside risk.

Hey everyone, You may have seen me reply on here, but I rarely ask questions. For anyone that follows markets closely, it seems pretty clear to me we are approaching a peak in equities. Many people are not holding dollars and hard assets like real estate and commodities are gaining momentum. With a real estate-centric portfolio, what steps are you taking to prepare for a downturn? For me, I'm optimizing cashflow, locking in mortgage rates, decreasing equities, and increasing commodities. Seems a little high-level for Alaska, but I feel we have a lot of room to grow after 6 years in the gutter.