All Forum Posts by: Landon Fillmore

@Tyler Cobb

Correct, I went with FHA first since I had some money saved up, and will use VA on the 2nd property. Lots of leverage, but it'll be 2 cash flowing small-multis with little money down. I'll have to decide which direction to go after that!

Update, I ended up buying a 4-plex in Midtown Anchorage and am house hacking it now! I live in one unit and rent out the other three. I hope to move on to my second property and utilize my VA loan benefits around September-October of 2022.

@Jamie Rose I don't get to Anchorage until Dec 5th. I'd LOVE to come to one of these. Are you planning on some more in the future?

@Timothy Chi congrats to you as well. I appreciate the tip! I found one I'm going to use that looks pretty good. Good to know there's some other newer investors in the area.

@Jeffrey K. That's good to know, thank you. I'll look into that clause. I'm sure there are many ways to do it.

I recently purchased a 4-plex, and one of the units is rented to a girl who has two roommates. The previous lease listed all three of the roommates, but they all paid separately. Now that I've inherited these tenants and am trying to establish a new lease, I am wondering how best to go about having multiple tenants in one unit who are not related to each other. Does anyone have experience with renting by the bedroom? Should I have each of them sign their own lease agreement, or just use one that has all three people listed as tenants? If they want to pay independently of each other, should the lease reflect that smaller amount, instead of the unit rate? 

Anything else I should consider? 

Thanks!

@Jason Bohling thanks for the breakdown on all of that! I love it when people spell it out like that. I'm excited to start using VA on my future properties. I'm a 2LT and just getting started with my first 4-plex in Alaska, but need to keep all of what you shared in mind as I go along.

Anchorage friends, 

This is Landon, your newest Anchorage, AK landlord. We closed on our 4-plex on 9/15/21, and couldn't be more excited to start our REI journey in Anchorage of all places!

The previous owner had some lease agreements in place, but they were 35+ pages long and a little out of date. I understand being thorough and covering all of your bases, but I think I'm going to start with my very own lease once their current ones expire. This is where I need help! If you have a great lease agreement that you use, or know of any Alaska-specific things we have to include, please respond and let me know! I'll take any help I can get. Thanks all. 

@Zambricki Li @Scott M. thank you both for your insight! I'll likely notify them that their current lease, and all terms therein, will just be upheld until they are up for renewal. Luckily one of them is on a month-to-month and I'll be taking over that unit in November. This was helpful, thanks again.

@Kyle Mccaw

Thank you for the response! I should have mentioned that I already know exactly which tenant will be leaving. Thanks for the input on the leases.