All Forum Posts by: Jeremy Bartlett

Welcome buddy! Military as well and own a 4plex and SF in Anchorage and a SF in OKC. Let me know if you have any questions or want to grab lunch sometime!

Landon:

Congrats on the commission and for scoring what I'm sure will be one of the best assignments of your career! Anchorage is great for multi family investing, and if you still have your VA loan to get into one for zero down, the opportunity for a solid return is endless.

We did the same thing once we got orders up here, lived in a 4plex for a year and was able to pocket all BAH for a down payment on another property a year later. It’s still paying dividends for us so I hope you can do the same. Shoot me a DM if you want to connect and I can give you the run down on considerations for the area and put you in touch with some solid people to help start building your investment team up here. 

Yep!

Need some help with my 4plex in Alaska... just had a units windows replaced with new triple panes which are working great - keeping the unit insulated at 63 degrees with no heat in the unit when it’s -10 out.

Because of this, the unit isn’t calling for heat as often, and a section of piping in the baseboard heating froze, so now the whole unit isn’t getting heat. 

Plumbing company confirmed that the boiler is working perfectly (it’s less than a year old). I called a thawing company out and they said that a section of the piping is plastic so their machine didn’t work to thaw it out... I went and bought my tenants a couple of radiator heaters in the meantime to keep them warm...

So that leaves me with these questions:

1) how do I thaw these pipes to get my tenants heat ASAP?

2) how do I check to confirm the pipes didn’t burst when they’re behind a wall once they do thaw?

3) how do I prevent this from happening again without opening a wall?

Any advice would be welcome!

@Kye Dawson thanks man! We are definitely expanding. We just saved enough to show 6 months of reserves for all three of our properties and are on track to buy a duplex a year for the next three years. Once we get those lined up we’re gonna take a breathe and start diving into some commercial properties using the cash flow from those 12 units! All depends on what the military decides to do with us, but that’s the plan for now!

What’s your long term plan?

Kye - 

Anchorage market is still pretty hot. Lots of opportunity for fix and flip/BRRR methods. Reading between the lines from a few other of your posts, sounds like you're in a pretty good position to buy and make one of those a reality! Happy to share any info or any questions if you've got them!

I tend to agree with Theresa. If you've got the money for another multifamily, use it for that purpose over a refi. If you can find one that cash flows as well or better than your last one, then you'll still earn that extra $1000 per month, but you'll have double the appreciation and loan paydown benefit and perhaps take another step closer to itemized deductions that save you on taxes as well.

@Trevor Halt Personally, I am not concerned about it. Alaska is such a vital resource to the rest of the country and the use of oil goes for far beyond just cars that there will be a demand for its resources and the labor force. And even if there is, Alaskans are about as tough a breed as it gets, so there will no doubt be an opportunity for the state economics to pivot to adapt to new demands should there be a need to. After all it isn't just oil that makes this state great, its mining, tourism, military, collegiate studies, fish and wildlife, etc. Its the people who have learned to find balance in a tough environment to make both flourish. Its the community!

Trevor! 

Alaska is what I consider to be heaven on Earth. I can attest that @Valerie Buss and @Jamie Rose are great sources of knowledge for the South central region and will not steer your wrong. My wife and I own 5 units in the Anchorage/Eagle River area as well and are happy to discuss our experience if you are looking for additional insight! Hope you find what you're looking for!

Mine are all paying as well!