Hans!
Way to go on your first post to Biggerpockets!! Shout out to Bristol Bay fisherman, I hope you had a killer year as a lot of guys did, which district do you fish in?
I think 4plex is a great start to investing in regard to the living for free and FHA is a low down payment way to get into your first property. What is your long term investing goals? And what are you capping your price search at?
It sounds like location is important to you, is that more for your comforts of living there, the tenants, resale? How long do you plan to live the 4plex?
My thoughts on the Alaska Economy may differ a bit from what you hear and would love to get your feed back and others. I agree with the financial climate being unstable if something doesn't change in the next 2-3 years. I think Lisa Murkowski just got sworn and has the capability to get a lot of Federal dollars back into the state and multiple native corps have announced that they plan to start spending money this year as apposed to last year where they were not doing so much of that. 99% of the owner occupied investors I worked with last year and this year are pushing hard to get into a property because there is a constant battle against the rising interest rate that is a write off and other people technically are paying (tenants) but is really affecting your cash flow. Just with you waiting 2-3 months your payment has most likely increased anywhere between $200-300. When you think of jobs thinning in the oil industry I would recommend reaching out to friends/family that you know that work in the industry and ask how many of their co workers are local Alaskans. My experience has been that about 6-7 out of 10 slope workers live in other states. I don't foresee the multifamily market bottoming out because that market is driven off supply and demand the the rent rates.
I would love feedback and continued conversation. I am always open to new thoughts and advice. I hope this brought some value! Cheers! Jeremy
