All Forum Posts by: Keenan Fitzpatrick

The grade of an area is always going to be subjective. I'd say that area is a C- area for the most part. If there's a remodeled building then that could be a B building. The way I'd establish a ranking would be to look on the muni website, compare price per sq/ft, compare condition of buildings, look at neighborhood density, compare days on market, etc. These are all things that licensees and property managers have been doing for a long time. They also know the pockets in these areas that may be significantly better or worse. I hope that answered your question for ya. :)

I'd look at everything given your location. There isn't a huge amount of investment properties in Kenai. I just closed on a multi family flip for a client out there and have been keeping an eye out for a JV deal with some fishing buddies and haven't seen much this last year that I've been looking. Your first step is going to be to get preapproved. This will tell you what you can and can't buy and is the best way to filter down what you're looking at at first. Then I'd look at yourself to find what you're most comfortable with. Is it managing property or doing renovations or both? That should give you a pretty good idea. A good local agent can help with the rest. Maybe you get a little condo and live in it for a year while you renovate it and then sell it to get a multi-family. Maybe you get a multi-family from the beginning and "step up" from there.

@Santiago Ortega I can confirm that the property that @Nadia Daggett ran was top notch. Not only was it ran successfully, profitably, and professionally, it was done in an area that took a little extra effort. Some places, like Girdwood, are so easy that you can trip and fall into success. This location took a little more intention. After seeing what she was able to do with her Alaska property, it would be an obvious choice for me to consult with her on acquiring an investment in her area. 10/10 would recommend 

@Naz Hossain

Sometimes investors buy a property then refinance it based on the tax assessment. Sometimes they can get all their money back if there’s enough margin between purchase price and tax assessment. That’s similar to what you’re talking about but not the same.

There’s also the rural development loan but that doesn’t apply in Anchorage.

@Kaiden Foster don't listen to that guy. Take everything you read on a forum as gospel LOL. 

Nope. It's looked at similar to a hotel. You can manage your and others without a license. I've had a 20% management fee proposed from a local manager and they would furnish it as well. 

I can almost guarantee that you'll want to use @Chris S. He owns and manages property there and does it well. He's super knowledgeable on investing in general as well as the specific nuances of this area and the best strategies to keep you profitable. If I were to have someone manage a property in this area, it would be him. 

What's your criteria? How are you looking to acquire property? Tell us a little about what your goals are, strategies you're using and what you're expecting? 

And Terry Fields teaches the courses at UAA but also teaches some individual classes.